Delete comment from: DSHR's Blog
I have been following up Chia closely and your brief discrediting of it as a failed technology is IMHO quite shallow and based on FUD.
Yes, there was an initial craze caused by hype and greed. Those who dumped vast amounts of cash into plotting hardware were burned, and the price of the coin corrected to discourage buying hardware for farming. There are loads of others who have unused hardware sitting around, ready to farm, and you can't expect a quick ROI when you're competing with "basically zero cost basis to participate except electricity" folks.
"The way" to farm Chia is to utilize otherwise unused resources. Old hard drives, unprovisioned storage, and so on. I have plotted almost 100 TB on an old 512GB Samsung SSD and on a commodity PC. The SSD is still working fine. If you look more closely, the news of widespread SSD failures died out. Why? Because it's not happening. It's FUD.
The network space stabilized at around 30-35 EiB. Chia has a ridiculously high full node count (around 250K, IIRC). Another big deal for decentralization is that individual farmers are making blocks even when they are pooling.
Ecosystem wise, we've seen a release of CATs (ERC-20 equivalent), peer-to-peer atomic trading offers and a couple of decentralized exchanges kicking off based on the trading offers.
So, technology failure? I don't think so.
Feb 14, 2022, 2:29:07 PM
Posted to EE380 Talk