Amazon Offers Mining in the Cloud for New Chia Cryptocurrency
Users in China can set up on AWS to "farm" Chia's XCH cryptocurrency.
The recently launched Chia cryptocurrency (XCH) can now be mined on the cloud computing platform Amazon Web Services (AWS).
- AWS provided a brief tutorial on how to integrate the architecture, generate wallet addresses and start “farming”, the chia equivalent of mining.
- Chia Network, a blockchain and smart transaction platform, published a white paper in February announcing its goal of making mining easier for individuals, letting them commit unused hard drive space to support its decentralized network.
- The system is geared toward supplanting the energy-intensive proof-of-work model (as used by bitcoin) with proof-of-space-time, whereby network participants show they have been storing data over a period of time.
- Created by BitTorrent founder Bram Cohen, Chia launched its platform to conduct transactions and for trading on Monday. That reportedly prompted a shortage of hard drives in China as people rushed to buy the equipment to "farm" the cryptocurrency.
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