Chia hopes to start an IPO this year

Chia, a cryptocurrency project created in 2018 that uses storage for consensus, is considering going public this year, according to a statement by its COO Gene Hoffman. The company has received a stream of investments suggesting it will be the next 'green bitcoin replacement' due to its relatively low power consumption compared to other Proof of Work (PoW) alternatives. Chia, a cryptocurrency that was founded two years ago but recently launched its main network, wants to start an IPO this year, aiming to launch an IPO as soon as possible this year, according to the company's statements. supporting it. Founded by Bittorrent's creator Bram Cohen, Chia Network Inc recently took a round of funding of over $ 60 million, giving the cryptocurrency a value of $ 500 million. The companies that led the funding round were Richmond Global Ventures and the famous Andreessen Horowitz, but other companies were also involved. Breyer Capital, Slow Ventures, True Ventures, Cygni Capital, Naval Ravikant, Collab + Currency and DHVC also participated. Gene Hoffman, the company's chief operating officer, informed the public that these funds will be used to hire labor and support the promotion of cryptocurrency as an alternative to other major coins in the industry. space like bitcoin. Hoffman said: Our goal has always been to go public relatively quickly, as this will significantly clarify our regulations and allow customers to use currencies to avoid public market volatility that is different from other currencies. The latest round of investment gave them confidence in what they could achieve with the IPO. The recent history of the environmental concern, which is currently looking for greener alternatives to Bitcoin's PoW, could help them do this. Is Chia's hard drive and SSD usage really green? But what exactly is Chia and how does it relate to the Bitcoin network? Chia is a cryptocurrency that uses a hard drive

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