Users in China can set up on AWS to "farm"Users in China can set up on AWS to "farm" Chia's XCH cryptocurrency. Chia's XCH cryptocurrency.

  • The recently launched Chia cryptocurrency (XCH) can now be mined on the cloud computing platform Amazon Web Services (AWS).
  • Setting up the system takes as little as five minutes, according to AWS’ Chinese website, as reported by The Block on Friday.
  • AWS provides a brief tutorial on how to integrate the architecture, generate wallet addresses and start “farming”, the chia equivalent of mining.
  • Chia Network, a blockchain and smart transaction platform, published a white paper in February announcing its goal of making mining easier for individuals, letting them commit unused hard drive space to support its decentralized network.
  • The system is geared toward supplanting the energy-intensive proof-of-work model (as used by bitcoin (BTC, +0.17%)) with proof-of-space-time, whereby network participants show they have been storing data over a period of time.
  • Created by BitTorrent founder Bram Cohen, Chia launched its platform to conduct transactions and for trading on Monday. That reportedly prompted a shortage of hard drives in China as people rushed to buy the equipment to "farm" the cryptocurrency.

All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

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