Cryptocurrency exchange Huobi Global has announced the launch of trading in the Chia token (XCH). Trading will begin today, May 14, at 02:50 UTC. This is stated in the official message of the company on Twitter.
🚀#Huobi Launches $XCH (Chia Network)🚀
🔹Deposits: Open
🔹Trading: Starts soon!Details👇
— Huobi (@HuobiGlobal) May 14, 2021
As representatives of the exchange explain, at the first stage, trading pairs with USDT and BTC will be available to users. Users can already make deposits, however withdrawals are not yet available. The exchange will inform you when this functionality will be unlocked. This is reported on the Huobi Global website.
The news of the listing on the Huobi Global exchange immediately affected the value of the coin. The price of the token increased by 29.48% in just a day, and the 24-hour trading volume increased by 173%.
What will happen to Chia’s farming
The growing popularity of the Chia token encourages users to look for new ways to make money on cryptocurrency. Previously, miners used special ASIC installations or powerful video cards to mine crypto coins, but Chia can be mined using an SSD drive.
Chia’s farming is based on hard drives. To start mining Chia, according to preliminary information, you need a hard disk with a volume of 1 TB or more. The most optimal size is recognized as 10 TB. At the same time, over time, the volume requirements for Chia’s pharming will increase.
Experts point out that chia’s active pharming is reducing the lifespan of a 512GB SSD to just 40-50 days. At the same time, an SSD itself with this amount of memory without pharming can last up to five years. A hard drive with 1 TB of memory can last for about three months. Accordingly, 2 TB SSDs will be able to farm up to six months. Moreover, as Fast Technology found out, the amount of data written to disk grows to 256 TB in just two months of active mining of XCH.
Analysts are sounding the alarm that due to the hype surrounding XCH pharming, the hardware market could be flooded with corrupted hard drives. It’s worth noting that manufacturers have already dropped the warranty for SSDs killed by cryptocurrency pharming.
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