Rather than the energy-intensive Proof-of-Work (PoW) algorithm that Bitcoin and other blockchains use to process transactions and mine coins, Chia is a storage-based protocol running a “Proof-of-Space-and-Time” (POST) algorithm that uses unallocated disk space. The chia token is the native cryptocurrency that runs on the blockchain.
Rather than the energy-intensive Proof-of-Work (PoW) algorithm that Bitcoin and other blockchains use to process transactions and mine coins, Chia is a storage-based protocol running a “Proof-of-Space-and-Time” (POST) algorithm that uses unallocated disk space. The chia token is the native cryptocurrency that runs on the blockchain.