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BitTorrent Creator’s Blockchain Chia Network Launches P2P Trading -Breaking


© Reuters. BitTorrent Creator’s Blockchain Chia Network Launches P2P Trading

Bram Cohen created BitTorrent and Chia Network. They launched their peer-to–peer (P2P), trading service called “Offers for Chia Wallet Holders.” Chia Wallet holders will now be able participate in cryptocurrency trading using the P2P trading platform. They don’t need to have any assets sent to exchanges.

It was stated that there is no cost for the two-user service to execute trades. You can protect the trade from any counterparty risks and avoid middlemen.

Gene Hoffman, President of Chia and Chief Operating Officer at Chia stated that Chia meets vital security requirements and is meeting compliance to make peer-to-peer transactions safer and easier.

Hoffman also added:

Launching offers is the first step towards delivering those needs. Our partnership with Stably, which provides US-dollar-pegged stablecoins wrapped in cryptocurrency and US dollars to support it, is an integral part of the process.

Stably stablecoin solutions provider was also mentioned by the company as a partner. This partnership will allow Stably to bring to market its first stablecoin that is dollar-denominated to their blockchain network. This is done to promote the offerings or products of the company.

Stably also plans to introduce wrapped bitcoin (wBTC), and wrapped ether(wETH) into the Chia blockchain. Chia Network is also committed to reducing energy dependence. In a Series-D funding round, at $500 million valuation, Chia Network raised $61 Million last year.

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