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  • 11 June

    Huobi May Launch Its Own Chia Mining Pool

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Fri, Jun 11, 2021 5:55 PM by The Coinshark

Huobi May Launch Its Own Chia Mining Pool

Huobi May Launch Its Own Chia Mining Pool? Chinese journalist Colin Wu said that one of the largest cryptocurrency exchanges, Huobi, may soon launch a mining pool for Chia. The launch of Chia (XCH) has been a big deal for the crypto industry this year. However, despite the high hopes for the "environmental friendliness" of the newly-minted cryptocurrency, it turned out that behind all the positives there is a token that literally depletes hard drives. As a result, there were some limitations on the part of manufacturers of drives of different types and sizes associated with the service life of the latter. In the event that an authorized service center of the companies confirms the fact that the user mined Chia using a hard disk, the product warranty will be void. Shortly after the start of trading on the largest crypto-exchanges, including Huobi, Chia dropped noticeably in price, dropping from $1,600 to $782 in just a couple of weeks. Nevertheless, the token did not lose its popularity among miners, which became the reason for interest from Huobi, which intends to launch its own pool for mining XCH tokens. Chia creator Bram Cohen stated that unofficial Chia pools have been complaining about space-proof errors lately. He argues that this problem arises from the constant flow of new miners connecting to the network and confirming data. As a possible solution to the inconvenience, Cohen asked users to wait a little longer before the official launch of his network protocol for mining the XCH token. Previously, he has repeatedly drawn the attention of the community to the problem of trust in unofficial pools, urging all Chia miners to abandon them. In the last month alone, XCH's value has dropped by almost 50% and now stands at $471 on Huobi, and the amount of space it occupies on media exceeds 21.25 exabytes. Subscribe to our Telegram, Twitter and Facebook to be the first to know the news of cryptocurrencies! This review is not an advertisement or a recommendation to action, but merely an informational one. The publisher and the author are not responsible for your decisions.

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