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Small Exchanges in China Backing Chia Coin Pre-sale as Top Exchanges Sit Back

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by Benjamin Godfrey · 3 min read
Small Exchanges in China Backing Chia Coin Pre-sale as Top Exchanges Sit Back
Photo: Depositphotos

While the exact dates for the pre-sale are not yet confirmed, the anticipation around the Chia coin project suggests it will be one of the biggest crypto fundraising events of the year.

Ahead of the anticipated Chia coin project’s pre-sale, small exchanges in China are reportedly backing the fundraising while the bigger trading platforms are sitting on the sidelines. According to Chinese journalist, Wu Blockchain, the Binance cryptocurrency exchange as well as Huobi, and OKEx are three of the major exchanges operating in the country yet to declare support for the Chia pre-sale.

Chia coin is not only stirring a mining frenzy in China, the price is already very high as according to Wu, the pre-sale price is fixed within the range of $200 to $300 per coin.

Chia Network is a US-based startup that was founded by Brian Cohen with the sole target of building a better blockchain. It aims to provide a highly decentralized, more efficient, and a functionally secured smart transaction platform. Chia Network also wants to reinvent the world of digital currencies, and some analysts agree that it has the potential to become a new Bitcoin (BTC) earning it the tag of the “Green Bitcoin.”

Chia seeks to pursue a greener alternative in its mining approaches, leveraging its underlying framework as Proofs of Space and Time to replace the energy-intensive proofs of work model atop which Bitcoin operates. As if the cryptocurrency was made for the Chinese populace, mining the coin has taken the center stage in recent times, coming off as positive news for the project and Cohen who also doubles as the creator of BitTorrent.

While the exact dates for the pre-sale are not yet confirmed, the anticipation around the Chia coin project suggests it will be one of the biggest crypto fundraising events for the year.

Chia Mining HDD and SDD Scarcity and Onda’s Rescue

Chia coin is relatively new to the cryptocurrency ecosystem, however, the interest garnered in the mining of the coin which only requires having sufficient hard drive memory has peaked in the past days, stirring a nationwide shortage of HDDs and SSDs.

Amid the scarcity fears, Chinese tech firm, Onda, has, however, mass-produced and rolled out a special type of Motherboard dedicated to the mining of the Chia coin. The device called the Onda B365 D32-D4 Magic Edition features a total of 32 SATA ports that supports up to 32 SATA-based HDD and SSD storage devices.

The motherboard displays superiority in design and built based on the Intel B365 chipset and features four different DDR4 DIMM slots and a single PCIe Gen 3.0 x16 and PCIe 3.0 x1 slot. Per the ongoing reports, the motherboard will be sold directly to miners, which is billed to tone down the demand for general HDDs and SSDs.

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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