Chia network has declared that the company is ready to go public. Gene Hoffman, the company’s president, explained that a merger with a special purpose acquisition company (SPAC) or listing via an initial public offering (IPO) might be the vehicle by which the company can gain public financing.

Hoffman disclosed in an interview with [Fortune](https://fortune.com/2021/05/25/chia-network-green-blockchain-valuation-ipo/) that the need for the company to go public has been a move for some time to radically simplify its regulatory framework and, in contrast to other monies, permit customers to utilize currency to hedge public market volatility. 
The CEO further stressed that the network prides itself on being environmentally friendly and claims its processes use less energy than conventional mining. 

The [current price](/news/article/chia-coin-price-prediction) of the coin depicts that by 2023, the coin will hit a high rate of $136; by 2024, it will have reached approximately $232, and in 2025, it will skyrocket to $338.

Towards the firm’s kickoff, it raised roughly $76 million (£56.95 million), of which $65 million came from a series D fundraising in May 2021, sponsored by Richmond Global Ventures, Naval Ravikant, Slow Ventures, and Andreessen Horowitz.
Key takeaway from Chia coin

•	Chia is set to go public as part of its product strategy. 
•	The company has raised roughly $76 million (£56.95 million), of which $65 million came from a series D fundraising in May 2021.
•	The coin might become the largest in the world with its proof of space strategy. 

## Chia coin challenges

The recent increase in the sell-off of publicly traded crypto companies might pose a significant challenge to an effective kick-off for the company.
Matt Kenedy, a senior strategist with the IPO research firm Renaissance Capital, disclosed that all firms find it challenging to go public. Further, he expressed concern for the company that despite having the backing of reputable investors like Andreessen and Greylock, the company is currently battling a declining market price for its currency, which is less well-known than Bitcoin and Ethereum.



## What is different about Chia?

This blockchain network is different from that of Bitcoin and Ethereum in that it produces currency using computer hard drive storage power and a consensus technique called proof of time and space.
According to Hoffman, the network currently has about 225,000 nodes worldwide, allowing effective data sharing and storage.

## The SECs stance

Gary Gensler, the head of the SEC, has argued that regulating cryptocurrencies is like the Wild West. The asset class, according to Gensler, is plagued with fraud, scams, and misuse in some instances.
In compliance with the US Securities and Exchange Commission rules (SEC) directive, Chia has mandated that all its operations be made clear to the regulatory body, the Commodity Futures Trading Commission (CFTC), to avoid similar pitfalls of other crypto projects before them. 


Chia coin is set to go public

Near protocol is on the run to become the quickest digital ledger in the world. 

The tier 1 blockchain network offers a platform for the [creation of decentralized applications by developers](https://www.coindesk.com/learn/creation of decentralized applications by developers what-is-a-dapp-decentralized-apps-explained/) (DApps). Since Ethereum is the most widely used layer one [blockchain](/news/article/blockchain-use-cases), this technology is Ethereum's new rival.

The token's price, which climbed to an all-time high of $20.44 in January 2022, is built around the concept of sharding, which attempts to break the system infrastructure into several pieces, also known as nodes, only need to process a subset of the network's transactions.

The network NeaCollective built uses a method called [Proof-of-Stake](https://cointelegraph.com/news/inside-the-blockchain-developer-s-mind-proof-of-stake-blockchain-consensus) (PoS) that supports smart contracts, thereby allowing efficient energy use and transactional cost. 

## Key takeaways under Near protocol

·	Near protocol is a tear one blockchain system that has implemented sharding to increase transactional throughput.

·	Between March and April 2022, the Near token's value doubled to more than $17. 

·	The network uses Proof-of-Stake as a staking technique to encourage wide-scale participation among its users. 

## How does the Near protocol achieve this?

The proliferation of decentralized applications (DApps) in the Bitcoin sector, including everything from games to financial services, has skyrocketed. But it's also apparent that scale is still a problem for most blockchains. 

It is no news that many digital ledgers have scalability issues, especially more established ones like Bitcoin and Ethereum. The root source of the problems is their inability to quickly process enormous volumes of transactions at reasonable prices.

This problem is being addressed by initiatives like this fast-growing technology, which creates a centralized system with a different architecture called [sharding](https://www.gemini.com/cryptopedia/glossary#sharding) to solve the issue. It entails segmenting the blockchain into smaller chains that are being worked on by various validators and that are frequently linked to one another. The network effectively avoids the issue of growing too large by slicing itself into smaller pieces.

This innovation is by no means the very first ecosystem to use sharding. It has been considered an Ethereum fix since 2013 and, as a result, claims that it offers "infinite scalability," which means that the number of transactions occurring on the framework can grow indefinitely without slowing down.

Sharding allows the technology to divide the cryptographic ledger into smaller, easier-to-manage chunks, lowering the computing effort, lightening the network's pressure and boosting transaction throughput. 

This protocol follows other Proof-of-Stake (PoS) programs with extremely cheap transaction fees compared to other blockchains like Bitcoin and Ethereum. 

According to the [Near](https://docs.near.org/concepts/basics/transactions/gas) website, the cost of transacting money is approximately 4.5 x 10-5 native tokens, making their transactions almost as inexpensive as those of Solana. 

As earlier mentioned, the digital application uses a PoS system against Ethereum's [Proof-of-Work](https://ethereum.org/en/developers/docs/consensus-mechanisms/pow/) (PoW). However, despite its features, the protocol still has much to prove as Ethereum's opponent. Others have been around for longer and are becoming popular; two of the most well-known are Solana and Polkadot, whose native tokens are SOL and DOT, respectively. 



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Author: Olumide Samuel

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