Chia Network: A More Environmentally Friendly Cryptocurrency Based on Proof of Space and Time

Basic Information Chia Network was founded by Bram Cohen, the creator of BitTorrent. It adopts a mechanism combining "Proof of Space" and "Proof of Time," attempting to provide a more environmentally friendly consensus scheme than Bitcoin's Proof of Work. Specifically, in the Bitcoin network, miners use computational power to maintain blockchain security, while in the Chia network, it is achieved through computer hard drive space and Verifiable Delay Function (VDF).