I was recently suggested by a close friend of mine, to look into and try out Chia coin, a brand new cryptocurrency competitor, that aims to create a greener alternative to current cryptocurrencies.
The problem with current cryptocurrencies, is the hardware used to 'mine' them, which is often very expensive, and specialized, and requires an array of these expensive devices combined with heavily discounted, or wholesale electricity to fuel the mining. Crypto was supposed to be decentralized, and this has been a challenge to that objective.
Chia coin revolutionizes that, by changing the 'mining' activity with a 'farming' activity, one that uses storage space dedicated to files, plots, to fill up free space on your drives, giving you in return a chance to be rewarded with a coin, by making your storage capacity available to the chia blockchain.
It is still very new, not yet on the market for trade, and my own knowledge of it is limited still, but I could tell immediately that it has a lot of potential to shake up crypto, and it offers an amazing opportunity to users who don't have access to hardware, and resources for mining effectively. Users may be able to participate in this coin with not just much lower investment, but much greater ease. Setting up Chia is easy, the app is quick to download and install, and if you can leave your computer running 24/7, you can set it up to build plots to farm coins with. You can get in early on this coin, and be part of a really positive, great, and high potential new coin, that aims to make a difference. And you could get rich doing it.
I personally love Chia coin, and it's the first time I've ever been gripped by a cryptocurrency before, so I am excited to have the opportunity to get in close to the ground floor on it.
My own server has been repurposed with a bunch of disks passed through KVM to a Windows 10 VM running the chia software. You can run this on just about any computer though. Things do run best on Windows or Mac though.
My VM is running with direct access to 1 500GB Samsung 860 Evo SSD for the OS, and the temporary plotting, and the plot directories for farming from are being setup now on 4x 4TB WD Red Plus HDDs. This is just the hardware I had on hand already, and this work can be done with cheaper bulk storage drives than the WD Red series. I will consider adding other spare drives to the setup when these fill out, probably with cheaper HDDs or ones saved from the recycling bin at work. Economic repurposing of old hardware is the best part of this project.
Learn more, and get involved in Chia coin here: https://www.chia.net/
I have updates for this post... see Chia-Coin-05-12-2021