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The recently launched Chia cryptocurrency (XCH) can now be mined on the cloud computing platform Amazon Web Services (AWS).
- Setting up the environment takes as little as five minutes, according to AWS’ Chinese website, as reported by The Block on Friday.
- AWS also provides a brief tutorial on integrating the architecture, generating wallet addresses and starting “farming”, the chia equivalent of mining.
- Chia published a white paper in February 2021 announcing its intention to make 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 utilized by bitcoin) 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 for transacting and trading on Monday, having reportedly prompted a shortage of hard drives in China as people rushed out to buy the equipment to "farm" the cryptocurrency.
