Chia Raises $61 Million To Scale Global Deployment Of Green Financial Services Infrastructure

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Chia Network, Inc. was founded by Bram Cohen, the inventor of BitTorrent. Chia Network is a state-of-the-art open-source decentralized blockchain, digital currency and smart transaction platform. Using the first new secure Nakamoto consensus algorithm invented since Bitcoin, Chia aims to operate an eco-friendly, more secure and user-friendly payment system for cross border payments, issuing financial assets, lending, escrow payments, institutional custody and distributed identity. Chia’s “Proof of Space and Time” based blockchain reduces waste in “Proof of Work” based blockchains. Built to run Chialisp, the company’s newly developed smart coin language, Chia’s blockchain allows its users to build and execute secure "smart coin" transactions. Chia Networks believes that “digital money” should be easier to use than cash, harder to lose and nearly impossible to steal. The Company is funded by leading venture capitalists, including Richmond Global Ventures, Andreessen Horowitz, Slow Ventures, True Ventures , Naval Ravikant, Galaxy Digital, Greylock, Cygni Capital, Breyer Capital, MetaStable, Stillmark, DCM, Collab+Currency, DHVC and others. The Company’s Advisors include Dr. Dan Boneh, Research Partner at Andreessen Horowitz and Applied Cryptography Professor at Stanford University; and Dr. Krzysztof Pietrzak, Cryptography Professor of IST Austria; and Katie Haun, General Partner at Andreessen Horowitz. For more information, visit chia.net and connect with us on Twitter (@chia_project), Facebook, GitHub, Reddit, and LinkedIn.