Ethereum

April

Chia

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Chia Network, a green blockchain firm based in San Francisco, California, has commenced the process of launching an initial public offering (IPO) in the US. The <a aria-label="startup announced (opens in a new tab)" href="https://www.businesswire.com/news/home/20230413005830/en/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">startup announced</a> on Friday it had submitted a draft registration statement to the Securities and Exchange Commission (SEC), though the size and the price range of the IPO have not been determined yet.</p> 
<h3 id="chia-joins-crypto-peers-in-the-ipo-race">Chia Joins Crypto Peers in the IPO Race</h3> 
<p>Eco-friendly blockchain platform Chia Network said on Friday it has confidentially filed a draft registration statement on Form S-1 with the SEC, moving closer to launching the proposed IPO in the US. The IPO size and price range are yet to be determined, Chia said in the announcement, adding it expects to commence the offering after the SEC concludes its review process.</p> 
<p>Chia’s plans to go public were revealed in 2021 – arguably the best year for crypto – when the blockchain firm <a href="https://www.businesswire.com/news/home/20210525005261/en/Chia-Raises-61-Million-to-Scale-Global-Deployment-of-Green-Financial-Services-Infrastructure" target="_blank" aria-label="bagged $61 million (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">bagged $61 million</a> in a Series D funding round that took its valuation to $500 million. The round was spearheaded by Andreessen Horowitz (a16z) and Richmond Global Ventures.</p> 
<p>However, earlier this year, Chia’s recently-appointed CEO Gene Hoffman said the startup had no plans of launching an IPO in 2023 due to unfavorable market circumstances. But now, Chia has joined various crypto companies with similar aspirations.</p> 
<p>Last year, Kraken co-founder Jesse Powell said the crypto exchange was eyeing a potential public listing when he announced his decision to step down as the company’s CEO. Recently, crypto mining firm Bitdeer made its public debut on April 14, following its <a href="https://tokenist.com/bitcoin-mining-firm-bitdeer-to-go-public-in-a-4b-spac-deal/" rel="dofollow" class="deco-link">merger with a blank-cheque company</a>.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="what-is-chia-network">What is Chia Network?</h3> 
<p>Founded in 2017, Chia Network is a crypto startup focused on developing an eco-friendly, less-energy-intensive blockchain platform that uses recycled hard drives to store data. The startup reduces carbon emissions through the so-called <a aria-label="proof-of-space-and-time protocol (opens in a new tab)" href="https://en.wikipedia.org/wiki/Proof_of_space#:~:text=A%20proof%20of%20space%2Dtime,which%20that%20capacity%20is%20used." target="_blank" rel="noreferrer noopener nofollow" class="deco-link">proof-of-space-and-time protocol</a>, which consumes significantly less energy than other crypto-mining models that rely on powerful graphics processing units (GPUs) and processors.</p> 
<p>The startup claims to use roughly 0.12% of the energy the Bitcoin network consumes annually. In 2021, Chia launched a native green digital token called Chia (XCH), which enabled “smart coin” transactions and rewarded farmers on the Chia blockchain.</p> 
<p>The significant energy consumption by some cryptocurrencies has been criticized for some time now, particularly Bitcoin, which is estimated to consume 127 terawatt-hours (TWh) a year — more than many countries worldwide. Ethereum too, was previously a power-hungry blockchain, but its energy efficiency has improved drastically since <a href="https://tokenist.com/ethereums-pivotal-update-likely-already-priced-in-as-market-remains-flat/" rel="dofollow" class="deco-link">the Merge</a>.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Do you think Chia’s IPO could attract significant interest? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/chia-network-initiates-first-step-to-launch-an-ipo/">Chia Network Initiates First Step to Launch an IPO</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Chia Network Initiates First Step to Launch an IPO

Tabla de contenidos

TokenInsight

Otros artículos publicados el 14 abr 2023

CheckDot X Graphlinq — AI Collaboration

Ripple Launched a B2B Liquidity Pool Without Support for XRP as SEC Case Drags

A safe mode for your personal profile. Blockchain and safety in the ecosystem

Congress Demands Answers on SEC’s Silence on FTX Case

Cardano ($ADA) Poised for Major Breakout Amid Bullish Crypto Market Sentiment, Says Popular Analyst

DCMA to Launch Global CBDC at IMF Spring Meetings 2023

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!