XCH

XCH is the ticker symbol for Chia Network's native cryptocurrency, often referred to as Chia or Chia XCH. Chia Network was founded by Bram Cohen, the creator of the BitTorrent protocol, with the goal of creating a more sustainable and decentralized blockchain. Unlike many other cryptocurrencies that use proof-of-work (PoW) or proof-of-stake (PoS) consensus mechanisms, Chia utilizes a novel approach called proof-of-space-and-time (PoST).

Proof-of-space-and-time requires participants, known as "farmers," to allocate hard drive space to store cryptographic data called "plots." The more storage space a farmer dedicates, the higher their chances of winning the right to create the next block and earn XCH rewards. Proof-of-time adds a time component to the consensus, ensuring that blocks are not created too quickly and adding a layer of security. This method is designed to be more energy-efficient than proof-of-work mining.

XCH can be used for transactions, smart contracts, and as a store of value within the Chia ecosystem. The Chia Network aims to provide a secure, decentralized, and environmentally friendly platform for various applications, including financial transactions and decentralized applications (dApps). The development of Chia Network and its XCH cryptocurrency is ongoing, with a focus on expanding its utility and adoption.