/biz/ - Business & Finance

If you are unaware of the team behind this, it’s Bram Cohen… noted as the number 1 network engineer in the history of the world. He created BitTorrent which at one stage had 85% of the worlds data going through this platform back before 56k Modem was the standard. He started conceptualizing Chia back in 2017, but they didn’t start building it until 2019, it took him 2 years to create 3 new mathematical equations and a whole new programming language called “Chialisp”. The mathematical equation was tested and trialled by the smartest brains in the world, they constantly broke his equation, and he had to retry this over and over again. The other cofounder is Gene hoffman, he was the former NASDAQ Ceo and he’s exited 3-4 companies, he was behind popup blockers in the 90’s, itunes and multiple internet creations.
This is the difference between Vitalik on ETH & real disruptors who have exited multiple companies in the past, they take their time on the concept, so you don’t have an ETH2.0 situation where your going to PoS and its taking years of delays to even get there, it’s the dumbest thing they will ever do. Put it this way, ETH2.0 is Vitalik selling out, everything they did back when they raised capital makes Ethereum a “security”, when you do governance votes, you are technically a “security”. There is only 1 way to get greenlighted after this and that’s by selling your soul to the goat heads, If you look on crunchbase and in ConsenSys, you will notice Microsoft, JP Morgan, as the majority investors into ConsenSys (feb 2022) this is all by design. ConsenSys inc. is the owner of Metamask/Infura (what ETH

Chia has got a partnership with the world bank (https://www.theclimatewarehouse.org/)...)... literally all the blockchains in the picture have had years to get real world adoption and none of them have.

Chia has just launched 1 year ago, and focussing on real world applications.

Just remember, they tried to build the "Climate Warehouse" with ETH/Hyperledger and they couldn't do it due to the technical capabilities being too basic, they needed a decentralized blockchain that also has smart coin functionality where they can code different rules/regs in different countries.... so far 40+ countries are involved and Switzerland has a chia wallet ready to go.

End of August is when the beta is supposed to close, expect fee's on the chia blockchain to be activated in aug/sept... NFT's just started too so the ecosystem is starting to grow.

They have the biggest VC's/names supporting this project including, Kevin Rose, Naval Ravikant, SLow ventures, Richmond Global etc... The last raise was $61M at a $500M valuation by a16z (equity).... hey will be the very first blockchain the work in parallel to the Nasdaq, where they will have XCH on the nasdaq and in crypto.

They didn't do a raise like all the other blockchains (even ETH is now back in the "is this a security?" conversation), because they raised money for profits which = security. Chia farmed there coins out in circulation organically exactly like BTC to avoid being a security... they raised on equity only (chia corp is for profit), but the blockchain is fully decentralized.

You cannot beat this team, they are literally the hardest workers according to stack. Invest in devs not shills.