Chives Coin

Chives (XCC) is an eco-friendly decentralization blockchain that is hard forked from Chia. Chives is completely decentralized, with no ICO, no reservation, and community autonomy cryptocurrency. Owing to this, Chives aims to create a green, environment-friendly, and low-power blockchain system. The one who does mining on Chives can use 45% of free hard disk space. The other 45% is allocated to master nodes. A master node verifies a new block of transactions in a cryptocurrency. The remaining 10% is allocated to the community. 

There is no limit on the total number of coins that can be generated through farming. Farming is the process of running a Chives farm, similar to mining. In Chives, mining is done by hard drive storage instead of processing power.

In Chives’s decentralized budget management system, the budget can be used for anything that creates value in the ecosystem. As the greenpaper states, Chives strives to solve many problems that were there in Chia. Primarily, Chia coins reserve 21 million coins for their own use. Contradictorily, Chives consists of no pre-mined tokens and also distributes rewards through community consensus.

Chives uses a combination of proof of service (PoSE) and proof of space and time. In the cryptographic technique proof of stake, the provers have to show that the unused hard drive has been allocated for storage purposes. Furthermore, the proof-of-time technique seeks to ensure that there is consistency between block times, thereby enhancing the overall security of the blockchain. Chives aims to adhere to the spirit of openness and open source and encourage people from all walks of life to work together to promote the development of Chives.

The release date of Chives was June 30, 2021. On July 5, 2021, a binary file for mining was released.