Chia Network is a blockchain and smart transaction platform ready to launch peer-to-peer exchange services for Chia wallet holders.
The company is better known as the second brain baby of Bram Cohen, founder of BitTorrent and the Chia Coin.
This new service is being developed to get hold of early adopters and similar target audiences. Using this, they would better switch and put a dollar value on the Chia Wallet. Which will eventually help them buy Carbon Credits.
Chia is trying to cut back on the extra costs incurred by the user by removing the middleman from transactions.
Chai’s primary aim is to elevate the technology to a new level that is not dependent on high energy requirements. This idea helped the firm raise over $61 million in Series D funding, evaluating it at $500 million last year.
What Is Peer To Peer Exchange Service?
A PTP exchange rules out the middlemen by connecting on the users participating in a transaction. This would eliminate the charge you’d have to bear otherwise while using the exchange service.
For example, for every transaction you make on Coinbase, they make a profit regardless of you’re in profits or losses. This is why Chia Network is trying to build a better platform where you would be in control.
Also Read: Moneygram Announces a 4% Ownership Stake in Coinme.
Comments From Higher Ups at Chia Network
When asked about his vision and plan with the new development, Chia President and COO Gene Hoffman shared a piece of his mind.
“Chia is meeting critical security and compliance needs to make peer-to-peer transactions safer and easier,”
He continued, “Launching Offers is the first step in delivering on those needs. And our partnership with Stably to provide U.S. dollar-pegged stable coins and wrapped cryptocurrencies is integral to the process.”
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