What is Chia cryptocurrency and why is it bad news for hard drives? • Hacker News Board

Re: What is Chia cryptocurrency and why is it bad news for hard drives?

#261

Post by dr_kiszonka » Sun, May 09, 2021, 4:39 AM UTC

Siira wrote: post #257

dr_kiszonka wrote: post #247

Earlier quoted context omitted.

Is there an accessible introduction, a YouTube video perhaps, to crypto instruments beyond Bitcoin? I have a basic understanding of how bitcoin works from SecurityNow and would like to learn just a bit more to test the waters.

The real meat of any the cryptocurrencies is in their consensus algorithm, which can be difficult to understand. Chia has these resources listed: > We have academic papers and presentations that give detail about our new consensus algorithm and blockchain software. In 2019 we revealed our Green Paper outlining the construction of Proofs of Space and Time and illustrating many of the design choices of Chia. > > We hav…

Thank you.

Re: What is Chia cryptocurrency and why is it bad news for hard drives?

#262

Post by dr_kiszonka » Sun, May 09, 2021, 4:39 AM UTC

ignoramous wrote: post #248

dr_kiszonka wrote: post #247

Earlier quoted context omitted.

Is there an accessible introduction, a YouTube video perhaps, to crypto instruments beyond Bitcoin? I have a basic understanding of how bitcoin works from SecurityNow and would like to learn just a bit more to test the waters.

> Is there an accessible introduction, a YouTube video perhaps, to crypto instruments beyond Bitcoin? I take you're specifically interested in what's known as "DeFi" (decentralised finance)? Multiple things going on on that front, but you could start here: https://archive.is/bJQt4 (coincentral); this video's a pretty good overview on Ethereum's DeFi ecosystem https://www.youtube-nocookie.com/embed/k9HYC0EJU6E and thi…

Great! Thanks for the links!

Re: What is Chia cryptocurrency and why is it bad news for hard drives?

#263

Post by rkagerer » Tue, May 11, 2021, 5:57 PM UTC

Is the disk space used for anything useful in parallel to Proof of Space?

What would have been smarter would be to make the space allocated to Chia also serve as a decentralized, worldwide storage facility (e.g. compete with S3/Glacier). You'd get better utilization of the resource, and have an extra revenue stream for the system.