Chia Network is a layer 1 blockchain that uses its own programming language and a novel consensus mechanism to use less energy while ensuring network security. The for-profit, open-source company aims to become listed on NYSE or NASDAQ and is intended for enterprise use. The project is run by a senior management team and is backed by leading venture capitalists. The unique combination of proof-of-space and proof-of-time achieves Nakamoto consensus while using less electricity compared to other consensus mechanisms. Chia Network also has its own programming language and aims to be governed by a traditional joint-stock corporation structure. Chia Network (XCH) is available on various exchange platforms.