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Is the Chia network as green as it seems?

Is the Chia network as green as it seems

Chia network is not so green. The CPU mining reportedly destroys the SSD in weeks. So saving the world probably takes lots of hard drives.

Chia network

The Chia network emerged on the cryptocurrency scene by promising to clean up the environmental mess left by Bitcoin BTC miners.

Chia network mines coins use an alternative to the energy-intensive proof of work, unlike Bitcoin, Ethereum and others. They produce Chia coins by using only Hard Drive storage. Hence mining them does not require any specialized ASIC hardware or GPUs.

China reports

Moreover, the reports coming out of China suggest that saving the environment is not as easy as it sounds, especially in Crypto. Fast Technology is a local outlet. It said that after 40 days of continuous Chia mining a standard 512 GB SSD shelf life would get worn out.

Moreover, a 1TB hard drive would last only 80 days, while a 2TB hard drive would be expected to last around 160 days. However, under normal conditions, such hard drive pieces are expected to last around a decade on average.

Reason behind hard disc failure

Once a hard drive exceeds a certain amount of written volume, the consumer guarantee protections will become null and void. Though hard drives typically ship with a 3-to-5-year warranty, Chia mining invalidates these warranties in just over a month.

Fast Technology reported that these hard drive manufacturers have begun to rewrite the terms of the warranty agreements. In addition, the manufacturers re wrote the terms to reflect the reality of Chia mining using their components.

Chinese traders suffered a shortage of hard drives when Chia commenced trading in early May. This eventually pushed the cost of high-capacity drives 16TB up to 6,000 Yuan ($933).

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.