Did you know that a second Nakamoto consensus besides BitCoin's Proof of Work exists?
It is called Proofs of Space and Time (#PoST) and uses a fraction of the energy #BitCoin uses while maintaining the same level of security.
It is created by Bram Cohen, who also developed #BitTorrent.
This is an absolutely horrible situation.
#Chia has native clawback mechanisms that would have made it possible to return these stolen funds. Its custody solutions are generally pretty awesome and worth a closer look. #XCH @lukedashjr
More at https://www.chia.net/2022/10/29/a-new-home-for-the-prefarm/
All 21 million XCH in Chia’s prefarm have been moved to four custom-built custody wallets. Why design new wallets from scratch? Existing web3 custody solutions rely on simple multisig contracts that can be drained of their funds in the event of a minor security breach. We knew we could do better. Chia’s custody solution uses […]