Why Chia Coin Could Be the Next Bitcoin

The more Plot you store, the more space you take up and the higher the probability of mining a block, which naturally leads to more revenue.

Why Chia Coin Could Be the Next Bitcoin

Chia mining has exploded all over the net, is the short cycle of high profits behind the capital market jockeying, or is it another wave of leek cutting process, today to give you an analysis of the principle and nature of CHia mining.

First of all, the threshold of Chia is very low, equipment, hard disk both power consumption, cost, availability are far more advantageous than graphics cards. Secondly, unlike other coins that use graphics cards or ASIC miners to mine, Chia’s mining algorithm is special, it requires pre-filling the hard drive with data, which is called Plot, a process called Plotting, and the software and machine used to generate Plot is called Ploter. The more Plot you store, the more space it takes up, and the higher the probability of digging into the block The higher the probability will be, and naturally you will gain more revenue.

The principle behind the so-called mining is a matter of consensus. Many miners participate in mining certainly to obtain virtual currency, and then gain profits. But in essence, the purpose of mining is to maintain an entire distributed computing network and maintain consensus. The virtual currency allocated to miners is simply a reward for this process.

Mining requires a large number of storage devices, all of which need to be pre-prepared before mining can be officially performed to generate effective computing power. This process is called Plot in Chia, or more popularly known as P-Disk, and the logic of using storage space is different in Chia compared to other coins, which use this special mechanism purely to maintain network consensus.

Chia’s initial investment is relatively low, according to the official website data per T daily output of 0.0020, with the hype of hard disk, Chia miner 1T cost around 450 yuan, the coin price is calculated according to the current 7000 or so, the daily income is 14 yuan, then the payback cycle is about 32 days, so far the payback cycle is still relatively ideal. But the official mining pool will be opened on the 17th of this month, when there will certainly be a large influx of computing power, the market sentiment will certainly grow further. It is undoubtedly the best time to choose to invest in CHia miners right now.

For the current market, whether it is the heat of the market or the return cycle, the same capital situation CHia mining machine is indeed the best choice.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/why-chia-coin-could-be-the-next-bitcoin/
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