• Days
  • Hours
  • Mins
  • Secs
  • Mon, 21 Oct 2019, 07:32 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

BitTorrent creator Bram Cohen becomes CEO of Chia Network as Ryan Singer steps down

Tue, 18 Jun 2019, 06:35 am UTC

Bram Cohen, the creator of the peer-to-peer (P2P) BitTorrent protocol, has taken over as the chief executive officer of Chia Network, CoinDesk reported.

Cohen left BitTorrent in August 2017 to found Chia – a decentralized open-source global blockchain which claims to be less wasteful, more decentralized, and more secure than Bitcoin. BitTorrent was acquired by TRON last year.

According to the details on Crunchbase, Chia has raised $3.4 million in a seed funding round in March 2018 and is backed by a roster of prominent investors including Naval Ravikant, Andreessen Horowitz, Greylock Partners, Galaxy Investment Group, and others.

Chia co-founder Ryan Singer, who was serving as the CEO, is stepping away to focus on his family. Singer told CoinDesk that he is no longer working at Chia.

A company spokesperson confirmed the recent leadership changes and said that current CFO and general counsel Mitch Edwards, who has also served as acting CEO of Overstock.com, will now take on the responsibility for existing business development relationships.

Chia explains that it is inspired and similar to the Bitcoin blockchain. But, what differentiates the two is that in Chia, the resource is not computing power, but disk space – it replaces the “proofs of work” used in Bitcoin by “proofs of space”, so disk-space becomes the main resource and proofs of time to come to a decentralized “Nakamoto-style” consensus that validates transactions.

The company started testing its approach last October and has been running optimization contests with its community and open-sourcing the best implementations. It began its second contest in April.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,226.50 (+0.55%)
  • Ethereum (ETH) $174.13 (-0.54%)
  • XRP (XRP) $0.292400 (-0.04%)
  • Bitcoin Cash (BCH) $231.14 (+3.02%)
  • Litecoin (LTC) $54.61 (-0.41%)
  • Bitcoin (BTC) $8,226.50 (+0.55%)
Oct 21, 2019 (Monday)
11:50
Crypto Technicals: LTC/USD halts downside at strong trendline support, breakout above 21-EMA to confirm near-term upside
11:12
Crypto Technicals: XMR/USD edges above 21-EMA, technical bias turning bullish
07:57
Crypto Technicals: BCH/USD bounces off strong trendline support, break above 21-EMA (228.68) to see bullish continuation
06:18
Crypto Technicals: ETH/USD struggles to extend gains, finds stiff resistance at 179
04:55
Crypto Technicals: BTC/USD pauses upside at 21-EMA (8326), break above to buoy Bitcoin bulls
Oct 18, 2019 (Friday)
12:51
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:23
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
10:38
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
10:13
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
08:48
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
07:48
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
07:22
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
06:52
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
06:22
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
06:11
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
05:02
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
04:48
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
13:38
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft