Swarm VS Chia: Foreign miners flock to Chia, domestic miners have started to switch to BZZ?

According to Chia’s official browser, the amount of network storage occupied by Chia is soaring at a rate of 1 EiB per day and is about to reach 14 EiB.

According to Chia’s official browser, the amount of network storage occupied by Chia is soaring at a rate of 1 EiB per day and is about to reach 14 EiB. since March Chia mining started with domestic miners and has radiated into a global mining boom in a very short time. the details of Chia’s mining pool protocol will be announced in the official Zoom meeting on June 2, at the same time, domestic mining in In the meantime, another head mining trend has sprung up outside of Chia mining: Swarm.

Swarm VS Chia: Foreign miners flock to Chia, domestic miners have started to switch to BZZ?

In the matter of grabbing head mining revenue, domestic miners have always had a leading global acumen. Currently, most of the reports and mining analysis about Swarm are reported by Chinese media, in contrast to Chia’s intensive overseas information. This article compares the two projects in terms of fundamentals and mining, as a reference for everyone’s investment and mining. Chia Cloud Chia Cloud currently has exclusive technology that has made it possible to use Chia’s hard drive to simultaneously act as Swarm’s BZZ node to obtain revenue and provide this interest to Chia Cloud mining machine purchasers.

Project Concept

The Chia project is a public chain benchmarked against Bitcoin, and its primary highlight is the introduction of a new Satoshi Nakamoto consensus algorithm called “proof of time”. This proof mechanism has the advantage of not consuming as much power and dedicated hardware as Bitcoin’s Proof of Work, and is an environmentally friendly alternative. This method of verifying the blockchain through the space and time proofs of the hard disk greatly reduces the consumption of hardware such as ASICs and arithmetic power and electricity, making it easier for ordinary users to participate in the process.

Chia mainly focuses on transaction functions, and its tokens will be used in practical financial use cases such as money transfer and international payment in the future. Based on this public chain, Chia has its own developed development language Chialisp, and adds several original features such as multiple signatures and atomic swap, limited speed transaction wallet, colored coins, etc. The Swarm project is not a public chain, but a distributed storage and distribution network based on Ether.

Users can run Swarm nodes and connect to the Swarm network as if they were Ether nodes. we can liken this feature to IPFS and Filecoin, which were a big hit last year. the principle is similar, the files to be stored are broken into blocks and distributed to participating volunteers for storage. Those nodes that provide services for the storage and for the blocks receive tokens as incentives and compensation from those nodes that need the service of storing and retrieving data. According to the whitepaper, Swarm ensures the reasonableness of the costs and rewards involved in the storage and distribution of its data through the swap protocol and incentive systems such as swear and swindle.

Investment Lineup

Regular readers of our public articles should be familiar with Chia’s investment lineup, led by a16z, a top US venture capital firm, with the vast majority of Chia’s investors coming from traditional venture capital and Wall Street, with a lot of traditional resources and capital on hand. This investment lineup has a lot to do with the background of Chia’s founder, Bram Cohen, who single-handedly created the legendary content distribution software BitTorrent, a BT tool that can be said to be the essential software for video downloading before the birth of the cloud disk.

This background helped Chia receive the attention and support of Wall Street at its inception. As a phenomenal project out of the circle, Chia aims to take the company public, which is fundamentally different from most blockchain projects. Swarm has been developed for as long as four years and has been diligently working on the technology until the beginning of this year when it started to raise $6 million. The current financing institutions include Ether Foundation, Bitcoin Suisse, Alphemy Capital, Bitscale Capital, DFG, KR1, Hashkey, NGC Venture, etc. From the perspective of investment institutions, blockchain venture capital is the main focus. It can be seen that the Swarm project comes with stronger blockchain attributes. Swarm is endorsed by the Ether Foundation and promoted by Ether founders Vitalik Buterin, Gavin Wood and Jeffrey Wilcke, and it is said that Swarm’s protocol labels bzz and shh were developed by Vitalik himself. With such endorsement, Swarm is still in the realm of blockchain projects, but the overall background strength belongs to the upper level and can compete with IPFS. Coinan will open the Coinan NFT trading platform next month. At present, most of the NFT storage is placed on IPFS, and once there is a self-use and more convenient storage protocol on Ether, a lot of NFT storage will be transferred to Swarm, adding to the value of Swarm.

Mining method

Chia is farmed and mined through pure hard disk storage P-map. The chance of mining XCH tokens is positively related to the amount of space occupied by miners and has a great relationship with the luck of P-map. Therefore, the main tools for Chia mining are SSD and HDD drives. When miners have more hardware, they have more storage space to P more graphs. Also, joining a reliable pool or mining farm to mine in a cluster-based scheme will increase the chances of winning the XCH in mining as the burst block rewards will be equally distributed to all users. Swarm mining requires storage resources in addition to bandwidth for uploading and downloading, and both storage and bandwidth contributions can be rewarded accordingly, and the greater the contribution, the higher the chance of getting the token BZZ. swarm’s nodes are called BEE nodes, and since the beginning of this year, running qBEE nodes can get qBZZ (Swarm test network tokens), before Before Swarm enters the main network, miners need to cash checks from the qBee nodes to get tokens.

Compared to Chia’s various mining configurations that are already quite clear, Swarm mining is still in its early days and no specific configurations have been officially given, only some configurations from IPFS can be used for reference. In addition, the official statement that there will be 35 officially recognized nodes, before the announcement, the situation on the market is more confusing and needs to be carefully selected.

To sum up, comparing the two, Chia is a Wall Street super public chain benchmarked against BTC, while Swarm is an ethereum head project benchmarked against IPFS. From the project itself, the tracks are different, but both have great prospects for development. And in terms of mining, Swarm is more early compared to Chia, the official information is not clear, the market is confusing, and miners may lose money if they invest huge cost into the market alone.

In such a market situation, with the user in mind, Chia Cloud has developed an exclusive technical system that allows the hard drive to function as a Chia miner while having a BZZ node, providing users with dual benefits.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/swarm-vs-chia-foreign-miners-flock-to-chia-domestic-miners-have-started-to-switch-to-bzz/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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