Chia - A New Cryptocurrency, Built by Bram Cohen, Founder of BitTorrent
- Mar 17 2021
- Length: 48 mins
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Bram Cohen (@bramcohen) is the inventor of the P2P BitTorrent protocol, co-founder of CodeCon, co-author of Codeville, and Founder/CEO of green cryptocurrency platform Chia.net. SHOW NOTES Want to help review this show? Here's how. [01:08] Bram's original concept for Chia. [02:56] Proof of work vs. proof of space and time in cryptocurrency, and why Bram favors one over the other. [04:15] Understanding the mechanics of how this works in layman's terms. [06:10] Bitcoin mining, ASIC chips, and the cost of electricity. [07:25] How Chia farming is more sustainable and available to the average user than Bitcoin mining, and what it's doing in the process. [08:30] What is the plot file, and what’s in it? [09:57] Bram explains how "Timelords" operate in Chia farming. [10:30] Where do the winning “bingo” numbers come from? [12:45] What’s the smallest amount of hard drive space someone needs to start farming Chia? [13:19] What is the mechanism behind Chia farming? What happens to the data? [14:21] How is a farmer rewarded for their contribution? [15:52] How does the network process and handle transactions? [16:39] How should people think of this coin? What is it used for? [17:59] There won't be any transactions at mainnet launch. Here's why. [19:22] How many transactions per second will the Chia network eventually be able to support? [20:48] How Chia will be able to support smart transactions better than Bitcoin and other cryptocurrencies. [22:25] What is a colored coin? [23:55] Using Chia for DeFi, here's how Uniswap on Chia could be done. [24:55] How does a rate-limited wallet enhance security? [26:34] Will there be support for pools in Chia? [28:35] On supply of coin, halvings to fixed rewards, and inflation. [30:26] Is there any advantage to farming on SSD vs. standard hard drives? [31:09] Efforts Bram and the Chia team have made in improving plot speeds. [32:06] The rude awakening that prompted me to fix my hard drive plotting. [33:25] What does Bram see Chia looking like three to five years from now? [33:53] Bram’s thoughts on NFTs, and if Chia will support them. [35:01] How do we store large amounts of data on a blockchain (like NFT objects)? More important: should we? [37:15] Bram's thoughts on Filecoin. [39:15] Does Bram know Bitcoin founder Satoshi Nakamoto? Is Bram Satoshi Nakamoto? [40:20] Is Bram bullish on Bitcoin? [41:53] Does being green mean a lot to Bram? [42:28] Why farming Chia makes me feel nostalgic. [42:48] Aspiring Chia whales don't even need warehouses or RAID arrays -- they can farm right from their apartments with homemade rigs. [44:00] Parting thoughts about the perils of celebrating on launch day. [46:42]
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Good discussion about Chia
Good discussion about Chia. Audible has a minimum word requirement which is kind of silly for a single episode of a podcast. If you're interested in learning about the Chia crypto this is a good discussion with the founder.