The world of cryptocurrency has exploded over recent years, with more and more people wanting to invest time, money, and resources into this industry. Bitcoin is among the best-known cryptocurrencies and has enjoyed huge success and global fame for many years. Many people have become involved with Bitcoin mining over the years, with some achieving high levels of success with this activity.
However, one of the big issues with this type of activity is that it uses up a huge amount of energy. This not only affects the finances of Bitcoin miners, but it also takes its toll on the environment. For those who want to be involved in cryptocurrency but who also want a greener way of doing this, one new option available is Chia farming. This is considered an environmentally friendly option, and it certain to be something that more and more people get involved in. You can learn a little more about Chia mining in this article and why it is a greener alternative.
A New Cryptocurrency
Chia is a new cryptocurrency that was founded by Bram Cohen, the creator of BitTorrent. Many expect that it will eliminate a range of issues that are associated with currency mining, most notably the huge amount of energy that is used when mining currency such as Bitcoin. However, there are also concerns that a new problem could be created at the same time in terms of storage.
Rather than using the power-guzzling mining rigs that are run via graphics cards and ASIC miners, this type of farming uses storage space. So, it is an eco-friendly alternative because it slashes the amount of energy required to conduct this activity. However, at the same time, it also creates an issue when it comes to hard drives and SSDs because of the storage required. Fortunately, there are solutions available such as services for cloud storage for Chia mining.
The good news with this particular cryptocurrency is that you do not need special equipment in order to get involved. In fact, all you really need is a computer or even a smartphone. Once it really takes off, demand for storage space among those wishing to farm Chia is likely to rocket, and in China, aspiring farmers have already been snapping up hard drives and SSDs in preparation. The prices of these have rocketed in some places because of this, so this could represent a huge issue for those looking to get involved.
Potential for Great Success
Of course, it is very early days for Chia at the moment, so it is difficult for people to determine whether it will really take off. However, given the benefits and despite the issues with storage, most believe that it has great potential for success and will quickly gain popularity. This could provide those who want to be involved in cryptocurrency mining to enjoy a more viable solution where they will not impact the environment as much, and do not need expensive specialist equipment.