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Huobi Mining Pool May Start Mining Chia

June 12, 2021
5:05 AM

Mining Pool Huobi plans to launch Chia mining. This was announced by journalist Colin Wu.

The mining pool of Huobi, China’s largest exchange, will launch the Chia mining pool. Chia has fallen 47.8% in the past 30 days and is currently at $506. The hashrate of Chia’s entire network has reached 21848P, an increase of nearly 7x from a month ago.

– Wu Blockchain (@WuBlockchain) June 11, 2021

On May 14, the exchange listed the coin and opened accepting deposits.

🚀#Huobi Launches $XCH (Chia Network)🚀

👏@chia_project

🔹Deposits: Open
🔹Trading: Starts soon!

Details👇

— Huobi (@HuobiGlobal) May 14, 2021

Chia developer Bram Cohen reported that some unofficial pools have complained about an alleged problem with fake space proofs. This, he said, is due to partial data validation and the constant connection of new miners.

Some chia pools which are having, ahem, security issues are claiming that they’re having a problem with fake proofs of space. That… isn’t a thing. At least assuming they’re fully validating partials, which who knows I haven’t checked what they’re doing, but more likely

— Bram Cohen (@bramcohen) June 9, 2021

“Some drops in the amount of available disk space on the network appear to have triggered pools that shut down the users who were tricking them,” he wrote.

Cohen urged users to wait for the official launch of their own network protocol for mining the coin.

Over the past 30 days, Chia’s value has dropped 47.8% and stands at $ 541 at the time of writing. The amount of disk space occupied by the coin has reached 24.6 scabytes.

So far, cryptocurrency miners are being united into pools outside the control of the Chia Network. The main one is considered to be the Chinese Hpool with a cumulative hash rate of 11.1 exabytes. The address belonging to the pool contains more than 33% of the total amount of mined coins.

Earlier, Bram Cohen urged miners to abandon unofficial pools. The project launched its own Poolchia protocol on May 30, pre-registration is open. It will support trustworthy low-fee pools that users can switch between.

Donald Westbrook

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