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What is XCH (XCH)?
Chia Network is an eco-friendly decentralized layer 1 blockchain built for enterprise use. Using the first new Nakamoto consensus algorithm since Bitcoin, named Proof of Space and Time (PoST), Chia aims to make a cryptocurrency that is sustainable, compliant and secure.
PoST makes blockchain mining an energy-efficient process, claiming only to use 0.16% of the annual energy consumed by Bitcoin and 0.36% of Ethereum. Chia has since also announced that they intend to become a regulatory-compliant blockchain company.
The key features of Chia Network include smart transactions, robust security, energy efficiency, at-home mining capability, improved shared mining (pooling) and increased scalability, among other features. Moreover, Chia Network is the most decentralized blockchain ever with around 200,000 nodes and boasts its own on-chain programming environment called Chialisp.
Chia Network's native currency, XCH, is used for transactions and rewards to incentivize users.
XCH FAQ
- Cryptocurrencies, such as XCH, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
- Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as XCH have been created as well.
- Check out our XCH price prediction page to forecast future prices and determine your price targets.