Decentralized, digital currencies will soon evolve from being a futuristic concept to a mainstream reality. They’ll offer liquidity to those who live in countries with poorly run or corrupt central banks, and offer a universal currency for streamlined financial transfers. Currency not tied to the banking system is an idea…

Thank you to everyone who participated in the first round of Chia Network’s Verifiable Delay Function (VDF) competition. The round concluded on January 3rd, 2019 with many excellent submissions from the participants. The quality of the entries exceeded our expectations, and we’re happy that the competition format proved successful. The…

Chia Network recently launched a three month long competition to create faster implementations of our proofs of time and get a better handle on its security requirements. The Verifiable Delay Function Competition (VDF, aka proof of time) is open to anyone, has $100,000 in total prize money, and is running…

A recent podcast speculated quite a bit about the economics of Chia Network’s new proof of space and time consensus algorithm. Let’s discuss the assertion that there are optimizations in storage technology allow for the creation of specialized Chia farming hardware that costs an order of magnitude less than commodity…