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Author Topic: Is Chia coin "green"?  (Read 85 times)

Klassew

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Is Chia coin "green"?
« on: May 18, 2021, 02:20:18 PM »
Newly launched “green cryptocurrency,” Chia Network Coin (XCH) has continued to gain prominence in the digital currency ecosystem, for many reasons, including its price performance. Amid the ongoing crypto market dip, the XCH has maintained a relatively stable price and is currently exchanging hands at $1,300 (-13%) and its trading volume surged upward by 3.95% in the past 24 hours according to CoinMarketCap.

To mine Chia coin, you will need hardware with large storage as the protocol works based on a new consensus of Proof of Space and Time. The bigger space you have, the more the XCH you are likely to mine. With a recent report revealing the reduction in the shelf life of regular storage hardware used in mining the XCH coins, many investors are exploring alternatives to acquire the digital currency. One of the ways being explored is Chia Mining Pools.

But according to other news, such mining destroys SSD and PCs in several months. So is such a "green" mining worth it? Or there are better alternatives?

LovelyMe

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Re: Is Chia coin "green"?
« Reply #1 on: May 25, 2021, 09:38:35 AM »
No, unfortunately, practice has shown that mining this coin leads to extremely fast wear of solid-state drives, and the level of energy consumption, although lower than that of bitcoin, is still quite high.

Klassew

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Re: Is Chia coin "green"?
« Reply #2 on: May 26, 2021, 01:36:50 PM »
Okay then. Is it possible to use even less electricity? In the situation with Chia, I don't really like that you have to invest twice. Buying additional supply, which had risen in price + paying extra fees for electricity. Isn't it better to simply invest in any more popular and stable coin?

LovelyMe

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Re: Is Chia coin "green"?
« Reply #3 on: May 31, 2021, 05:10:40 PM »
No, as practice has shown, chia mining is very unecological. Today I read the news that manufacturers have started to release updated SSDs with increased power. This is nonsense! It is much easier to find a more eco-friendly coin and pay attention to it. For example, I can recommend сrypton. To mine this coin, you only need a PC and the Internet.

WalletInvestor

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Re: Is Chia coin "green"?
« Reply #4 on: June 01, 2021, 11:19:09 AM »
It definitely sounds like a project that wasn't thought through very well. It is now quite well documented that mining can wear out devices quicker than ordinary use, and the case we see with Chia is even more extreme. E-waste is a big environmental problem, so lessening the use of electricity is not that great if it comes at the cost of producing more waste.
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Klassew

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Re: Is Chia coin "green"?
« Reply #5 on: June 07, 2021, 03:15:37 PM »
It definitely sounds like a project that wasn't thought through very well. It is now quite well documented that mining can wear out devices quicker than ordinary use, and the case we see with Chia is even more extreme. E-waste is a big environmental problem, so lessening the use of electricity is not that great if it comes at the cost of producing more waste.

You're right. No matter if it's e-waste or some additional supplies, it's not good for the environment. And what if, as it was told above, all you need is a PC and internet connection? Seems to be a better case. As anyway all of us own computers and use the internet.

LovelyMe

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Re: Is Chia coin "green"?
« Reply #6 on: June 08, 2021, 01:23:00 PM »
Hmm, absolutely. By the way, the release of more energy-intensive SSDs has already been announced, so it begins to seem to me that it was beneficial to someone from the outside.

Klassew

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Re: Is Chia coin "green"?
« Reply #7 on: June 11, 2021, 04:17:12 PM »
I can't even imagine how many complaints did the producers receive after all that stuff with broken equipment. Anyway, they've already earned so much money, that they can do whatever they want.

 

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