Chia aims to improve financial and payments systems without the need for power hungry & environmentally unfriendly hardware by using a new consensus algorithm called proof of space and time, giving off some cool Dr Who vibes :) You as the 'prover' have to prove that you posess unused hard drive storage space by storing 'plots' each typically 100GB in size.
There are 2 main steps to making Chia. PLOTTING and FARMING. Plotting is the most hardware and energy intensive part but it only needs to be done once and is then stored on your hard drive(s). Farming requires very little energy, once plots have been added to your hard drive(s) they will scan the plots contained within them each time a challenge is released for the next block, if your plot contains the hash closest to the challenge then you are awarded with Chia.
The Chia NetSpace is growing day by day, what this means is it's getting harder for smaller farmers to win Chia because it's all based on luck and how many plots you have. Farmers with high end equipment can plot faster and store more plots making it harder for small farmers to have any chance of winning. However there is a solution! With PoolStream™ small and large farmers alike can join forces so we can all win.
In a pool when one member wins Chia they keep 12.5% of the block and the rest is split among the rest of the pool based on their contribution to the pool netspace minus the pool fee. This can result in continuous earnings for everyone rather than waiting and hoping to win (if you win at all).
Plots plotted prior to joining our pool can't be used with pools but you can continue solo farming with them or re-plot to the pool if you prefer. You can switch pools at any time with ease but at PoolStream™ we aim to be the largest Chia farming pool with the best support. Once our pool is launched we will charge NO FEES for the first 6 months and will introduce a referral scheme to give our loyal members extra rewards.