Bram Cohen , who invented file - sharing protocol BitTorrent , intends to launch an " eco - friendly " cryptocurrency called Chia . The cryptocurrency would harness cheap and plentiful unused storage space on hard drives to verify its blockchain , rather than bitcoin ’s traditional electricity - hungry proofs of authenticity . Discussing his plans for Chia , Cohen said : “ The goal is to make a better bitcoin , to fix the centralisation problems . ” butler 's company , the Chia Network , has teamed up with Tradehill ’s website ##tech Singer and together they have raised a seed fund for butler to recruit staff , although the amount raised has not been disclosed .
Bram Cohen, who invented file-sharing protocol BitTorrent, intends to launch an "eco-friendly" cryptocurrency called Chia. The cryptocurrency would harness cheap and plentiful unused storage space on hard drives to verify its blockchain, rather than bitcoin’s traditional electricity-hungry proofs of work. Discussing his vision for Chia, Cohen said: “The idea is to make a better bitcoin, to fix the centralisation problems.” Cohen's company, the Chia Network, has teamed up with Tradehill’s COO Ryan Singer and together they have raised a seed round for Chia to recruit staff, although the amount raised has not been disclosed.