Kevin chats with Bram Cohen, creator of BitTorrent, about his new cryptocurrency, Chia. Chia is an energy-efficient "green" cryptocurrency that utilizes additional hard drive space on inexpensive computers. Chia is launching in just a few days. Kevin has already begun mining ("farming") on their testnet.

SHOW LINKS

SHOW NOTES

- [1:08] - Help review the show
- [3:22] - The original Chia idea, proofs of space and time
- [4:25] - Proofs of work vs proofs of space and time
- [4:45] - Moving away from burning electricity, it’s wasteful, taping into an existing resource
- [6:00] - Understand the mechanics in a simple way
- [7:15] - Bitcoin mining, ASIC chips and cost of electricity
- [9:00] - Farming on Chia, what’s is it doing?
- [10:00] - What is the plot file and what’s in it?
- [10:37] - The use of a Timelord in Chia
- [12:45] - Where does the winning “bingo” numbers come from?
- [13:30] - What’s the smallest amount of hard drive space do you need?
- [14:30] - What is the mechanism behind farming? What happens to the data?
- [15:55] - What are you rewarded with for farming?
- [16:45] - How does the network process and handle transactions?
- [18:00] - How should people think of this coin? What is it used for?
- [19:40] - No transactions at mainnet launch
- [20:50] - Transactions per second on Chia
- [22:25] - Support for smart transactions
- [23:55] - What is a colored coin?
- [25:00] - Using Chia for DeFi, Uniswap on Chia could be done
- [26:45] - Rate limited wallets
- [28:40] - Supporting for pools in Chia
- [30:33] - Supply of coin, fixed, halvings, inflation
- [31:18] - Any advantage to running SSD hard drives?
- [32:11] - Improvements in plot speeds
- [33:30] - Kevin fixes his hard drive plotting
- [34:00] - What does Chia look like 3-5 years from now?
- [35:00] - Bram’s thoughts on NFTs, Chia supporting NFTs
- [37:18] - Storing large data on chain (like NFT objects)
- [39:15] - Thoughts on Filecoin
- [40:20] - Does Bram know Satoshi?
- [41:53] - Is Bram bullish on Bitcoin?
- [42:28] - Does this being green mean a lot to Bram?
- [44:00] - Chia whales mining in their apartments
- [44:35] - No need for RAID arrays

Chia - A New Cryptocurrency Launching Soon, Built by Bram Cohen,…

Modern Finance

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