Chromia is a Layer-1 blockchain platform combining relational databases and blockchain technology to provide dedicated dApp chains, customizable fee structures, and improved digital assets. This framework allows for real-time data querying and indexing, improving the end-user experience and enabling innovative Web3 business models.
Key highlights:
Chromia's MVP Mainnet is set to launch on July 16th, 2024.
It introduces innovative relational blockchain technology and many other features.
This launch establishes the foundational framework for all future developments within the Chromia ecosystem
They have announced the launch of their Mainnet on July 16th, 2024.
JUST IN: Chromia MVP Mainnet Launch Confirmed for July 16th, 2024. Get ready to launch 🚀 🔗 https://t.co/70VMn6A4M4 pic.twitter.com/WUKr8VIDRz
— Chromia | Power to the Public (@Chromia) July 2, 2024
Impact on Chromia ecosystem
The MVP Mainnet forms the cornerstone of Chromia. It'll serve as the essential framework for all future development. Although the ecosystem's growth will be gradual, the 'MVP' label indicates that this release includes the necessary features for the network to begin expanding.
At the same time, the MVP Mainnet marks the genesis block of the new native CHR token. The launch will enable the current ERC-20 and BEP-20 CHR tokens to be bridged to the MVP Mainnet.
How To Buy Chromia CHR On Kucoin
The MVP Mainnet will also include staking and delegation process, payment of network hosting fees, and provider payouts. The updated staking and delegation system will be available by the end of Q3, 2024. Until then, current stakers will continue to earn rewards under the existing system
Quotes from the team
The founders of Chromia, Alex, Or and Henrik, had major roles since the early days of the industry Back in the day, they co-founded one of the very first Bitcoin wallets and wrote the colored coins whitepaper, alongside Vitalik Buterin.
“Our journey began twelve years ago with Colored Coins, the world’s first token protocol. Following this, we launched a bank-backed stablecoin and recognized the potential of integrating relational databases with blockchain, inspiring the creation of Chromia. After years of development, we are thrilled to see the concept of relational blockchain become a reality.”—Henrik Hjelte, Chromia co-founder
Chromia combines blockchain architecture with ideas from cloud computing and database theory to provide a full spectrum of tools needed to deliver an amazing end user experience. This launch sets the stage for the future growth and development of our network, and I’m excited to see what developers can create with our tech.”—Alex Mizrahi, Chromia co-founder
How Chromia is different
Chromia differentiates itself from other blockchains by implementing the so-called relational blockchain that changes the way data is structured on-chain. It allows for easier searches and on-chain calculations without the need for third-party solutions like indexing services, data availability layers, and RPC servers. On top of that, it allows developers to lease resource containers and create their own revenue streams, while users can interact with dapps even if they don't own any cryptocurrency. The next step of Chromia's evolution involves a gradual increase in network activity which will help expand the Total Value Locked (TVL).
The bottom line
Chromia's MVP Mainnet launch represents a significant advancement for the platform. It introduces innovative relational blockchain technology and sets the stage for future development that will help Chromia streamline user experiences and foster the growth of the Web3 ecosystem.