Chinese flock to new cryptocurrency resulting in HDD shortages and price surges
scmp.com
scmp.com
It has a large pre-mine (aka pre-farm):
> It will take 21 years for the rest of the world to mine as much of the Chia (XCH) cryptocurrency as the company behind it will have on the day its mainnet launches next month. [1]
> The size of the pre-mine is one notable revelation from the paper, in which Chia also announced its mainnet will launch on March 17 or earlier. Farmers (the network’s equivalent of bitcoin miners) will be able to begin farming immediately. The network’s cache of pre-mined XCH, however, will be governed using a traditional format: Chia plans to take its company public. [2]
[1] https://www.coindesk.com/5-takeaways-from-chia-networks-new-...
[2] https://www.nasdaq.com/articles/5-takeaways-from-chia-networ...