1 Name:Chik Coin

English name: Chik Coin
English abbreviation: Chik
Description: Forked from Chia
Block time: 18.75 seconds (same as Chia)
Block reward: 2 XCK (Chia: 2 XCH)
Block allocation: 100% is allocated to miners
Reward halving: Halving in 3 years, to a block reward of 0.125 XCK from the 13th year (same as Chia)
Total issuance: No upper limit (same as Chia)
No need to Replot(you can use chia plots)

Website:  https://chiknetwork.com/
Blockchain Explorer:  https://explorer.chiknetwork.com
Telegram:  https://t.me/+r6RKnczHF5NjM2U1
GitHub:  https://github.com/Chik-Network

Total token issuance:The same as CHIA
Halving cycle:The same as CHIA
Genesis block time:Mon May 29 2023 23:29:35 CST
Project team wallet address1:xck1dr5cx0yw5nlz7g3t7dh2dlezxmxvyz0d5594dmvypywht5lncn2stkz694
Project team wallet address2:xck1pxerjhqzhuyfq6ncuw73payyncvzc2c9ppjpn6aepty5hnvmqz2qm3spg8

Chik is a hard fork created by volunteers in the community using Chia code. As a completely decentralized and community autonomy cryptocurrency, it can create a low-power, green and environmentally friendly blockchain system with Chia™.

2 How does it work?

Chik uses the free disk space on the hard disk for Proof-of-Space (PoSpace) consensus, along with another consensus algorithm, Proof of Time (PoTime) to verify the blockchain.
The income of Chik farmers is proportional to the amount of allocated storage space; if you have 10 times the space, you will earn 10 times the reward.

3 What is a Chik Farm?

Running a Chik Farm is similar to mining, but using hard drive storage space instead of processing power. During block creation a snapshot the network storage space is taken;
Personal income is determined by the percentage of storage space a user contributes to the total storage space on the network. The more storage space you allocate to a Chik Farm, the greater your profit.

4 What is Plotting?

To start a Chik Farm it must be plotted, a process that requires a read and write to the allocated hard drive farm space. Once your hard disk is plotted, you may become a farmer and harvest it as long as you keep the proof generated by plotting.
The initial plot process fills the farm space with random input proofs, reads the drives through direct access to the API, and then sorts them to quickly find the proofs obtained.

5 Chik mining economic model

On the blockchain of the Chik network, there is no upper limit to the total number of Chik coins that can be generated through farming rewards (farming), but block rewards will be reduced over time.
A block is generated every 18.75 seconds, and each block rewards 2 XCK. 100% is allocated to miners. Halving of block rewards in 3 years, to a final reward rate of 0.125 XCK every 10 minutes from the 13th year.

6 What problems does Chik solve?

Chia officially reserves a large number of coins.

The official developers of Chia coin reserve 21 Millions coins for their own use, which is unfair to everyone who participates in the Chia ecosystem. The 21 Millions coins officially reserved are equivalent to the total rewards to all miners mining for a consecutive 12 years.