Jia Network Released Its official pool agreement was given yesterday Chia Coin By cooperating with other farmers instead of competing with them, farmers are more likely to win a small amount of cryptocurrency.
Chia is grown by building a “plot” on the storage device-preferably a Durable enough to be cultivated Cryptocurrency without risking failure-this contributes to the overall cyberspace of the project. Then, the network issues a “challenge” to a group of plots, and if one of the plots matches the challenge, it “wins” a certain amount of Chia.
Chia Network stated that the popularity of its cryptocurrency “resulted in a surge in cyberspace from about 100 PB at launch to 30 EB today.” However, as the cyberspace continues to expand, it is expected that certain farmers’ plots will win some Chia coins (XCH). The frequency of) will actually be reduced accordingly.
This is where pooling comes in. “Pools are guaranteed to be able to collect any block rewards discovered by people currently farming with them,” Chia Network said. “There is a reasonable allocation of rewards to farmers to motivate them to receive rewards when they find them.” This effectively allows farmers to earn less XCH more frequently.
Chia Network compares this approach to “lottery insurance” Pooling User GuideChia farmers are willing to take the risk of reducing spending so that they can get more XCH without participating in the pool; those who seek more frequent spending in exchange for less XCH income can join hands with like-minded farmers.
Chia’s pooling implementation also enables farmers to move their plots between pools or return to self-hosted plots at will. “The worst thing a swimming pool can do is to make you rigid about the rewards you should get from them,” Chia Network said. “You can audit whether they do this on their own. They can’t stop you from leaving.”
To start using the mining pool, you need to update to version 1.2.0 of the Chia Blockchain software. Chia Network stated that plots created using previous versions of the software will continue to operate, so if farmers do not want to continue to manage their plots, they do not necessarily have to upgrade.
Anyone who is curious about growing their own chia seeds should learn more about The best PC version of Chia graphicsPlease note: Although Chia is not expanding as fast as before, Storage prices continue to rise, Which means that buying the equipment needed to frequently win some XCH will still be very expensive, and as with all cryptocurrencies, success is not certain.