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

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

The Chia Community is a decentralized sensible contract platform that makes use of a novel consensus protocol based mostly on knowledge cupboard space. It claims the community has decrease vitality consumption than blockchains that use proof-of-work consensus and may re-utilize worn storage {hardware}. BitTorrent founder Bram Cohen created the Chia Community in 2017.

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