BitTorrent creator Bram Cohen has debuted his “solution” to Bitcoin which he says resolves “centralization problems” with the virtual currency.
Speaking to TechCrunch Wednesday, Cohen explained his Chia Network would offer more reliable, eco-friendly mining and security measures.
The developer has been famously critical of Bitcoin this year as the network suffers slow and expensive transaction processing.
“The idea is to make a better Bitcoin, to fix the centralization problems,” Cohen told the publication.
Employing a concept called proof-of-time, as opposed to proof-of-work, Chia relies on a two-step block authentication method…
Read Full: BitTorrent Creator’s Chia Could ‘Fix’ Bitcoin With Own Altcoin By Late 2018