Chia Network (XCH) is a first-layer blockchain that features a unique programming language, Chialisp, and a distinctive consensus mechanism known as proof-of-space-and-time (PoST). This innovative combination enables the blockchain to maintain high security while being more energy-efficient than traditional blockchains. Unlike many blockchains, Chia Network operates as a public, profit-seeking, open-source entity with ambitions to be listed on major stock exchanges like the NYSE or NASDAQ. It targets enterprise applications and intends to include XCH in its assets for potential listing.
The development of Chia Network began with the release of its first proof-of-time function in 2019, followed by the beta version of its blockchain in 2020. It reached full operational capacity, supporting wallets, transactions, and smart contracts with the launch of its mainnet in 2021.
XCH is the native token of the CHia Network.