The carbon footprint of crypto networks is a huge concern. Chia network has emerged as an energey-efficient blockchain platform for smart transactions. The Chia network has announced that it is launching exchange services for peer-to-peer transactions.
This peer-to-peer product is called ‘Offers’. Chia is partnering with Stably to support this product. Chia blockchain is also launching a dollar-denominated stablecoin. Stably, on the chia blockchain, will also launch wrapped bitcoin and wrapped ether.
The Chia network will be required to meet all the required security and compliance regulations. This is essential to ensure that the proposed peer-to-peer transactions are easy and at the same, safe.
Chia – Features
Chia added that the launch of offers is the first step towards offering easy and safe peer-to-peer transactions. Chia’s partnership with stably and the initiative to launch dollar-denominated stable coins and wrapped BTC and wrapped ETH are a part of the same process.
Chia added that such products would help the platform connect with its community of early adopters. The early adopter’s community chiefly comprised entrepreneurs and developers.
Chia’s COO opined that stablecoins afford investors with the opportunity to load the chia wallet with dollar denominated carbon credits.
Chia calls people who hold a chia wallet, the makers and takers. The platform enables the makers and takers to make and accept offers of trading opportunities. The platform enables any two users to transact to make trades without having to pay a transaction fee. Also, as opposed to centralized exchanges, on Chia, people can trade without counterparty risk. Also, middlemen are eliminated from the transactions.
Chia, which is working on reducing the energy dependency of blockchains recently raised $ 61million. This was the platform’s series D funding and valued the platform at $500 million.