Kopalnie Krypto Team - Monday 16 October 2023
Chia client update - significant improvements in version 2.1.0!
New update and another set of improvements! The reference Chia client in version 2.1.0 has seen the light of day. What does the new release offer us? First and foremost, improvements in farming and user experience. Updates were received for GPU plotting, Credential Restristed CAT tokens, the Offer system, as well as WalletConnect and DataLayer functionalities. More details will be presented later in this post.
Mandatory update
First and foremost, it should be noted that version 2.1.0 is a mandatory update. It introduces additional changes that were originally supposed to be part of the hard fork implemented in version 2.0. It is recommended to update your reference Chia client immediately. Now that the formalities are out of the way, let's move on to the new features.
Improvement in GPU plotting
In version 2.1.0, the latest release of the BladeBit plotter was implemented. It now supports plotting with graphics cards for computers with 128 GB of RAM. This way, users of typical consumer computers will be able to use them as plotters. Purchasing specialized workstations packed with RAM will no longer be necessary. On the other hand, it's worth considering buying such equipment to maximize the mining rate.
Expiring Offers
Source: chia.net
The innovative Offer system by the Chia Network has also been improved. In version 2.1.0, users can create Offers that automatically expire after a certain time. With expiring Offers, we avoid situations where lists are filled with outdated entries. This way, it will be much easier to manage current Offers, and the frequency of trading will increase. Users can therefore set the time after which a given Offer expires. No more manual browsing and removing outdated Offers. If a particular Offer expires and is not accepted, it can be recreated with a new expiration period.
Source: chia.net
The default expiration time for Offers is currently 7 days. Users can naturally modify this time during the creation of Offers. It is also possible to generate Offers without a time limit, as has been the case so far. People browsing Offers have insight into the time after which they will expire. They will also receive an error message when browsing or trying to accept an outdated Offer. Expiring Offers support all digital assets currently available through the Chia wallet.
Source: chia.net
Expiring Offers are backward compatible. While users using an older version of the Chia client will be able to accept such Offers, they will not have insight into their validity period. If they attempt to accept an already outdated Offer, the operation will fail.
Credential Restricted CAT tokens
One of the current trends in technology is the tokenization of real-world assets. The success of such ventures depends on security and compliance. Chia Network's latest invention, Credential Restricted Chia Asset Tokens (CAT CR), fits perfectly into the above aspects. These tokens will function like their "ordinary" counterparts, but their sale, exchange, or transfer will require possession of a Chia Verifiable Credential. Recipients of Credential Restricted CAT tokens (CAT CR) must have a Verifiable Credential (VC) on the blockchain. Users verified in this way will be able to store such tokens. Verifiable Credentials can be obtained from designated issuers.
Source: chia.net
Trading CAT CR tokens via Chia Offers
As part of the 2.1.0 update, the primitive of Credential Restricted CAT tokens (CAT CR) was combined with the Offer mechanism. This way, users will be able to trade these special tokens in a fully decentralized manner. The rules remain unchanged: only users with Verifiable Credentials (VC) will be able to create and accept CAT CR token Offers. People without the appropriate credentials will not be able to engage in trading these resources.
Source: chia.net
Key selection during the WalletConnect pairing process
The latest update of the Chia reference client also includes improvements in pairing the wallet with decentralized applications (dApp) via WalletConnect. During pairing, users can select any private keys from a dropdown list, connecting them with a dApp. The actively synchronized wallet then does not matter. This provides a great level of flexibility without having to switch between wallets.
Source: chia.net
Summary
The reference Chia client in version 2.1.0 does not introduce a huge number of changes in terms of their quantity. Nevertheless, this update implements several very important conveniences. The first of these are the expiring Offers, which provide transparency and order in the ecosystem. The second noteworthy addition is the CAT CR tokens. It's a compelling argument for the Chia Network blockchain for those who look unfavorably at the openness of public blockchains. Combining CAT tokens with Verifiable Credentials provides additional security and privacy for selected resources. Considering the direction of changes, one can conclude that Chia Network is creating a perfect system for exchanging digital assets through blockchain technology.
