Blockchain startup Chia plans to become the first stock cryptocurrency

Blockchain startup Chia, which has released XCH cryptocurrency with a unique consensus of "space and time" mined by mining on hard drives, raised $ 61 million in funding round D.
The investment required a financial appraisal of the company, which turned out to be at an unexpectedly high level of $ 500 million, but this was not the last interesting event in the framework of raising venture capital.

Blockchain startup Chia plans to become the first stock cryptocurrency

Managing partner of Richmond Global Ventures, which organized for Chia Network Inc, joined its Board of Directors and invested an undisclosed amount of personal funds in the startup. According to Jinshi News, David Frazi plans to take the cryptocurrency startup to an IPO. If he succeeds in getting the regulator's permission to issue shares, Chia will become the first altcoin in the history of the stock market.
Analysts give vague estimates of the prospects for such an initiative. Chia is highly popular in Asia due to its affordable mining, which has already led to a shortage of hard drives. Users found a way out of this situation by mining cryptocurrency using cloud services, which treated such customers differently.
The German provider Hetzner has banned the mining of Chia on its servers, in contrast to the Amazon clouds, which issued instructions for setting up its mining. AWS can provide widespread distribution of the nodes of the new network, providing a sufficient level of blockchain security, and its technologies can attract third-party developers.
Corporate news pushed XCH up 25%.

Investors are wary of buying the coin due to low capitalization and volatility. The asset takes a place at the end of the cryptocurrency rating, having managed to depreciate by 300% in 20 days of its existence, after it grows three times and again test the lows.
FX24

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