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As Miners Leave Bitcoin in Droves, Space Allocation Dedicated to Filecoin and Chia Surges

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

While a large quantity of hashrate has stopped dedicating resources to the Bitcoin network, a great number of alternative mining ecosystems are swelling with new participants. China’s ASIC exodus has ignited a significant increase in demand for accessing storage power on both Filecoin and Chia’s proof-of-storage networks. Both networks have seen space allocation spike significantly since the bitcoin mining crackdown in China. Alternative Consensus Algorithms Reap Benefits of the SHA256 Hashrate Drop A lot has been happening in the cryptocurrency mining space recently, as the industry is seeing a massive…

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