#BitTorrent creator #BramCohen announced his intention to find a solution for Bitcoin, which, he said, resolves the problems of centralization.
Speaking at #TechCrunch, Cohen said that his new project #Chia #Network will offer a safer and more reliable blockhouse with a nature-friendly mining. This year, Bram criticized Bitcoin a lot because the network is slow and the cost of transactions is high.
"The idea is to make Bitcoin better and fix its problems with centralization," Cohen noted in the publication.
In contrast to "proof-of-work", he proposed a new concept of "proof-of-time". The Chia network is based on a two-step authentication method. Full node functions will be assigned to farmers, not to miners.
"The project is technically ambitious and there is still a lot of work ahead. I did a lot: attracted money and assembled a team. Now the real work begins, "he added.
While the community is recovering from the cancellation of Segwit2x, Cohen has scheduled a release of its new network at the end of 2018.
It is worth noting that he is not alone in his plans. MegaUpload creator Kim Dotcom intends to compete with it and launch its own decentralized network for storing files.