The Space Farmer – Week 2
It’s been 10 days since mainnet went live and another milestone hit with 2000 unique addresses that have won XCH. I’ll say that again, 2000 unique addresses have won XCH.
Last week, we estimated the net space at ~127PiB last Monday and today it hovers around 163 PiB touching on 170PiB overnight. Ridiculous 33.8% growth in one week for a brand new project without a token price. An overlooked part of Chia farming is just how simple it is to get started. The GUI in the Chia node allows a user to start plotting and running a full node almost instantaneously.
2000 Nodes would firmly put Chia in the top 10 cryptos by node count. The total nodes connected to a peer in the last 24 hours is estimated at over 4,000 and over 10,000 nodes connected to the net space in the last 5 days. Exponential growth is a real thing and we expect this to explode when transactions unlock.
Growth numbers aside, the first week was relatively…boring? Don’t know if that’s quite the right word but if you asked the Chia team they would consider that a victory. No surprises or even minor issues, just the blockchain continuing its ~18.5 second block time.
Huge growth numbers have created some concern from the community’s smaller farmers. Block rewards only hit 4608 times a day and waiting on something that only has a .000625% chance of happening can make you crazy. Keep in mind your k32 plots will be farmable for at least the next 5 years and likely into the 2030’s. You’re a space farmer. You did all the hard work, you planted your seeds. Your Chia will come. The community is all behind you.
Pooling is also right around the corner. The functionality will substantially smooth out rewards and is expected later this year. 1000 2TiB farmers collecting the rewards of a 2 PiB rig will yield multiple rewards a day well into a 2+ Ebibyte netspace. Stay tuned, we’ll have the most up to date pooling news as soon as it’s available.
I wanted to give a shoutout the team that created Chia Calculator. The talented design team made a sleek, easy to use tool to project you winnings. They updated v2 to include a growing net space so you can see how your rewards will look into the future. Check it out here https://chiacalculator.com/
Bram made another podcast appearance/recorded clubhouse with CoinDesk about puzzles and solving the world’s hard problems. I’ll update a link as soon as it’s available to the public.
You can catch us on twitter @ChiaDecentral and we host a weekly Clubhouse Show on Sundays. We had a great time in last night’s room. Bram Cohen and storage_jm answered questions for about an hour and half. The excitement is building within the community so I expect node count and net space growth to be a common theme in the coming posts.
All in all another great week in Chia. Special thanks to the Chia community for the support. We want to provide great content to all of you so please keep reaching out!
I’ll catch you guys next Monday. Happy Farming!
