What Is Chia Network (XCH)?
Chia Network (XCH) is a layer 1 blockchain that uses its own custom-designed programming language called Chialisp and a novel consensus mechanism called proof-of-space-and-time (PoST). The combination of these two allows the blockchain to use less energy without compromising network security. In contrast to most other blockchains, Chia Network is a public, for-profit, open source company that aspires to become listed on NYSE or NASDAQ. Its blockchain is aimed at enterprise use, which is why Chia Network plans to have XCH on its balance sheet in case of a listing.
Chia Network’s first proof-of-time function was released in 2019, with the first beta version of its blockchain launching in 2020. Chia Network achieved full functionality, including wallet functionality, transactions and smart contracts, with its mainnet launch in 2021.
Who Are the Founders of Chia Network?
Chia Network (XCH) was established in Delaware in 2017 by Bram Cohen, the founder of the popular peer-to-peer file sharing platform BitTorrent. The project is headed by an experienced senior management team, including former NASDAQ CEO Gene Hoffman as chief operating officer (COO) and former Overstock.com CEO Mitch Edwards as chief financial officer (CFO).
Chia Network is also backed by an illustrious list of cryptocurrency-focused venture capitalists. It raised $61 million in funding in May 2021 with the participation of leading VCs that included Andreessen Horowitz, Slow Ventures, Naval Ravikant, Galaxy Digital and others.
Chia Price Prediction
If you’re looking for Chia price predictions for 2022, 2023, 2024, 2025, 2030 and want to know where the prices of Chia (XCH) will go in the future? We will analyze the past prices of Chia (XCH) and will found out what experts are saying about its future price actions.
Please keep that in mind you need to take this prediction and every other prediction with the intention that this is only the suggestion of some market expert/analysts.
Not to mention predicting something so perfect is completely impossible. But we will try our best. Let’s start.
|Year||Minimum Price||Average Price||Maximum Price|
|USD Price||$ 82.02|
|24h Volume||$ 11,712,728|
Chia (XCH) Price Prediction
At reconshell.com we predict future Chia price predictions/XCH forecast by applying deep artificial intelligence-assisted technical Analysis on the past price data of Chia. We do our best to collect maximum historical data for the XCH coin which include multiple parameters like past price, Chia marketcap, Chia volume and few more. If you are looking to invest in digital cryptocurrencies and want good return on your investments, make sure to read our predictions.
Chia Price Prediction 2022
According to our deep technical analysis on past price data of XCH, In 2022 the price of Chia is predicted to reach at a minimum level of $108.82. The XCH price can reach a maximum level of $136.12 with the average trading price of $112.81. Read More
Chia Price Prediction 2023
The price of Chia is predicted to reach at a minimum level of $164.23 in 2023. The Chia price can reach a maximum level of $192.26 with the average price of $168.74 throughout 2023. Read More
XCH Price Forecast for 2024-2025
As per the forecast price and technical analysis, In 2024 the price of Chia is predicted to reach at a minimum level of $232.02. The XCH price can reach a maximum level of $280.53 with the average trading price of $240.45. Read More
The price of 1 Chia is expected to reach at a minimum level of $333.94 in 2025. The XCH price can reach a maximum level of $411.25 with the average price of $345.96 throughout 2025. Read More
Chia Price Prediction 2026
Chia price is forecast to reach a lowest possible level of $469.62 in 2026. As per our findings, the XCH price could reach a maximum possible level of $589.86 with the average forecast price of $483.45.
Chia Price Prediction 2027
According to our deep technical analysis on past price data of XCH, In 2027 the price of Chia is forecasted to be at around a minimum value of $678.24. The Chia price value can reach a maximum of $824.04 with the average trading value of $702.41 in USD.
Chia (XCH) Price Prediction 2028
The price of Chia is predicted to reach at a minimum value of $946.63 in 2028. The Chia price could reach a maximum value of $1,188.19 with the average trading price of $981.75 throughout 2028.
Chia Price Prediction/Forecast 2029
As per the forecast and technical analysis, In 2029 the price of Chia is expected to reach at a minimum price value of $1,349.99. The XCH price can reach a maximum price value of $1,664.83 with the average value of $1,399.08.
Chia (XCH) Price Prediction 2030
The price of Chia is predicted to reach at a minimum value of $1,982.89 in 2030. The Chia price could reach a maximum value of $2,384.45 with the average trading price of $2,052.84 throughout 2030.
Chia Price Prediction 2031
Chia price is forecast to reach a lowest possible level of $2,822.57 in 2031. As per our findings, the XCH price could reach a maximum possible level of $3,487.52 with the average forecast price of $2,925.22.
What Makes Chia Network Unique?
Chia Network (XCH) improves upon proof-of-stake (PoS) and proof-of-work (PoW) by using a less electricity-intensive consensus mechanism. The network achieves Nakamoto consensus by combining proof-of-space (PoS) with proof-of-time, (PoT) which both function in distinct manners.
Proof-of-space requires miners to keep unused storage on their hard disk drives. In this scenario, miners install special software that allocates free space, which is then used to solve a challenge – similar to puzzle-solving in proof-of-work (PoW). The software stores a collection of cryptographic numbers on the miner’s disk and, upon block creation, a challenge number from the previous block is taken. Miners scan their numbers to check if they have a number close to the challenge number that is required.
On the other hand, proof-of-time demonstrates the passage of time through Verifiable Delay Functions, in a way that is similar to the Solana (SOL) blockchain. The Timelords – nodes that document time – ensure that time is correctly documented for solving the proof-of-space functions.
In addition, Chia Network has its own programming language called Chialisp. This is an on-chain programming language that is smart contract-compatible and takes most important components of Ethereum (ETH), Solidity, and Bitcoin Core but keeps Bitcoin’s UTXO model. Doing so allows for simultaneous transactions instead of sequential, making Chia Network a faster and more energy-efficient blockchain compared to its rivals.
How Many Chia Network (XCH) Coins Are There in Circulation?
The current supply of XCH is 22,582,025. 21 million XCH were pre-farmed to help fund the creation and administration of Chia. According to the Chia Network (XCH) whitepaper, farming rewards follow this schedule:
- 64 chia will be created every 10 minutes for the first three years after launch
- 32 chia will be created every 10 minutes in years four through six after launch
- 16 chia will be created every 10 minutes in years seven through nine after launch
- Eight chia will be created every 10 minutes in years ten through 12
- Four chia will be created every 10 minutes for every year after year 12
That means the network itself controls most XCH and only 21 years from mainnet launch, the farming rewards will catch up with the size of the strategic reserve.
How Is the Chia Network Secured?
Besides following a unique approach in combining an adapted proof-of-work consensus mechanism with proof-of-time, Chia Network (XCH) is governed by a traditional corporate structure. It eschews the crypto-native model of a decentralized autonomous organization (DAO) in favor of being a traditional joint-stock corporation.
Chia Network intends to list the company’s equity on a stock exchange, as it believes that this model aligns incentives better than other models. As such, ownership of coins has no influence on the governance of the Chia blockchain, which is a distinct approach to the model of other public blockchains.
Where Can You Buy Chia Network (XCH)?
Chia Network (XCH) is available on Huobi, Gate.io, Uniswap (V2), KuCoin and OKEx.