July 21, 2024

Chia Network agrees IPO with US regulator

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Chia Network agrees IPO with US regulator

Representatives of the blockchain company Chia Network announced that on April 14, they submitted an application with a request for an initial public offering (IPO) on Form S-1 to the US Securities and Exchange Commission (SEC).

Founded by the developer of the Bittorrent protocol, Bram Cohen, the company is going to go public.Its main productChia (XCH) uses an unusual Proof of Space and Time (PoST) consensus algorithm to replace the most common PoW-PoS algorithm and uses memory space on drives such as hard drives to validate transactions.In fact, users are rewarded for providing free disk space for the project to run.

Amid the news of a possible IPO, the XCH rate rose by more than 14%.On the afternoon of Sunday, April 16, the token is trading around $45.

This is not the only cryptocurrency that has increased in value over the past week.Positive dynamics of value is observed in bitcoin and some other large altcoins.