
Chia (XCH) Price Down Over 8%, Backblaze Proves Coin Is Not Rentable after 4 Months
Backblaze found out that maintenance of 150 petabytes capacity disks would cost $175,000 every week.
Backblaze found out that maintenance of 150 petabytes capacity disks would cost $175,000 every week.
Hoffman hopes that Chia going public and keeping XCH as a separate token will hedge investors from wild price swings.
Regardless of its troubles, executives at Chia Network revealed last month that, the company planned to go public through an initial public offering (IPO) or a special purpose acquisition company (SPAC).
Chia Network’s IPO is expected to clarify its regulatory environment and protect customers from market volatility by allowing them to use currency.
The Chia network Version 1.1.6. is expected to solve some of the existing challenges including significant syncing and performance improvements.
Things will soon go back to normal. Even after going to lows of $688.43 in the last 24 hours, Chia Coin bounced back to an uptrend and was trading at $1,019.2 at the time of writing.
Bram Cohen, the founder of the Chia network, has warned against the use of unofficial mining pools as they may pose significant threats to the miners.
Chia Coin uses a proof-of-space system that relies on the storage capacity of devices used in mining instead of computing power.