Chia Community says it submitted IPO registration to SEC after management shuffle

The Chia Community blockchain stated April 14 that it had submitted a proposal for an preliminary public providing (IPO) to the US Securities and Alternate Fee (SEC). The scale and worth vary of the providing haven’t been decided, the corporate stated. The proposal was submitted confidentially and the announcement was made beneath a Securities Act of 1933 rule to permit restricted data to be launched to measure investor response.

The Chia Community is a decentralized good contract platform that makes use of a novel consensus protocol based mostly on information space for storing. It claims the community has decrease power consumption than blockchains that use proof-of-work consensus and is ready to reutilize worn storage {hardware}. BitTorrent founder Bram Cohen created the Chia Community in 2017.

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