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About Chromia
- Chromia is a modular, relational blockchain platform for building decentralized applications (DApps).
- Founded in 2018 by Henrik Hjelte, Or Perelman, and Alex Mizrahi, who previously worked on Colored Coins and Safebit.
- Chromia has raised $5.5 million in funding from various investors, including NGC Ventures, FBG Capital, and Binance Labs.
- Unique features: relational blockchain architecture, open-source development landscape, public/private/hybrid model, massive scalability, and compatibility with other blockchains.
- CHR token: total supply of 1 billion, used for fees, staking, governance, and accessing D
About Chromia
Chromia is a relational database management system that is designed to support decentralized applications (dApps) and facilitate the development of scalable, secure, and efficient blockchain-based solutions.
Introducing Chromia (CHR): A Revolutionary Blockchain Solution
Chromia is a pioneering, modular, and relational blockchain platform designed to simplify the development of decentralized applications (DApps). Founded by ChromaWay, a trailblazing company that has been at the forefront of blockchain innovation since 2014, catering to diverse sectors such as finance, real estate, gaming, and public services. Notably, ChromaWay is also credited with creating colored coins, a groundbreaking concept that enables user-defined assets on a blockchain, representing a wide range of assets, from currencies and stocks to collectibles.
Chromia envisions a future where a new wave of decentralized applications (DApps) can transcend current scalability limitations, tackling complex, real-world challenges across diverse domains, including gaming, social media, finance, healthcare, education, governance, and beyond.
Notable examples of DApps on Chromia include: My Neighbor Alice (ALICE), a pioneering multiplayer blockchain game; LAC PropertyChain, a cutting-edge land registry system; Green Assets Wallet, a innovative platform for green bond verification; Hedget (HGET), a decentralized options protocol; Corite (CO), a revolutionary music streaming service; Chain of Alliance (COA), a captivating strategy game; Vault12, a secure digital asset custody solution; and Domenation, a groundbreaking blockchain gaming project.
The Visionaries Behind Chromia: Meet the Founders
Chromia was established in 2018 by three visionary blockchain pioneers: Henrik Hjelte, Or Perelman, and Alex Mizrahi. Having previously collaborated on Colored Coins, a groundbreaking protocol that enabled user-defined assets on a blockchain, and Safebit, a user-friendly Bitcoin wallet, they leveraged their expertise to found ChromaWay, a company specializing in providing bespoke blockchain solutions for diverse sectors, including finance, real estate, gaming, and public services.
Chromia has successfully secured funding through three consecutive rounds to date:
In 2018, a private sale marked the inaugural round, garnering $3 million in investments from a prestigious roster of contributors, including NGC Ventures, FBG Capital, JRR Crypto, DFG Capital (Dynamic Fintech Group), OK Blockchain Capital (OK Group’s investment arm), AlphaBit Fund (ABCFund), LD Capital (LD Investments), Du Capital (DuCapital), Bitrise Capital Partners (Bitrise Capital), Chaince Capital Partners (Chaince Labs), and Waterdrip Capital Partners (Waterdrip Capital).
The second round of funding was facilitated through a public sale in 2019, which successfully garnered $2.5 million in investments from KuCoin Spotlight, a prestigious platform renowned for showcasing exceptional blockchain projects.
The third round, a seed round, transpired in 2019, securing an undisclosed investment from a single prominent backer: Binance Labs, the esteemed venture arm of the esteemed cryptocurrency exchange, Binance.
Beyond these funding rounds, Chromia also secured a strategic investment from Animoca Brands, a prominent global developer and publisher of mobile games and blockchain gaming platforms, in 2020.
Unveiling the Unparalleled Chromia: A Revolutionary Approach
Chromia is a cutting-edge blockchain platform specifically designed to facilitate the seamless deployment of decentralized applications, leveraging the power of smart contracts. Notably, Chromia boasts a distinctive set of features, including:
By leveraging a relational blockchain architecture, Chromia enables each node in the network to maintain its own relational database, thereby facilitating efficient data storage and querying. This innovative approach yields faster transaction processing, lower fees, and enhanced scalability compared to traditional blockchain systems. Notably, Chromia diverges from other blockchains that rely on a global state, instead opting for a local state for each DApp, which significantly reduces complexity and consensus overhead.
In the realm of open-source development, Chromia presents a versatile landscape that empowers creators to craft decentralized applications (DApps) tailored to diverse use cases, including gaming, finance, social media, and beyond. By leveraging familiar programming languages like SQL and JavaScript, developers can effortlessly code their DApps on Chromia, while also tapping into the platform’s built-in features, such as authentication, encryption, indexing, and querying, thereby eliminating the need for complex logic or reliance on third-party services.
Depending on the specific requirements of users and developers, this blockchain can be deployed as a public, private, or hybrid model, thereby offering unparalleled flexibility and control over data governance and DApp management. This empowerment enables users to dictate who can access their data and how it is validated, while developers can tailor their fee structures and reward mechanisms to suit their DApps’ unique needs.
Chromia boasts unparalleled scalability by empowering each DApp to operate its own blockchain, which runs on a subset of nodes within the network. This innovative approach significantly reduces the load and complexity associated with consensus, thereby facilitating the parallel processing of transactions. Furthermore, Chromia enables the creation of hierarchically interconnected blockchains, allowing for seamless data sharing without compromising security or performance. Notably, Chromia is capable of handling an impressive 100,000 cell updates per second.
Chromia (CHR) Coin Circulation: Understanding the Total Supply
Chromia boasts a native utility token, CHR, which serves as the lifeblood of the ecosystem, facilitating fee payments, staking, governance, and seamless access to decentralized applications (DApps) within the Chromia realm. Furthermore, CHR holders can reap the rewards of Chromia’s growth and widespread adoption, as they are eligible to receive incentives from DApp providers. Notably, CHR is interoperable with other prominent blockchains, including BNB Chain and Ethereum, courtesy of bridges and sidechains that enable seamless interactions.
CHR boasts a total supply of 1 billion tokens, with 20% allocated to private sale and Initial Exchange Offering (IEO) participants in 2018 and 2019, respectively. The remaining tokens are distributed as follows: 25% are earmarked for promotional initiatives; 20% are reserved for the team and founders, subject to a four-year vesting period with a one-year cliff; 15% are allocated to the ecosystem fund; 10% are set aside for the reserve fund; 5% are designated for advisors, vested over a two-year period with a six-month cliff; and 5% are dedicated to automatic market making.
CHR tokens serve multiple purposes, including: settling fees for hosting decentralized applications (DApps) on Chromia nodes; staking to ensure network security and earn rewards; participating in governance and casting votes on proposals; and accessing DApps while receiving incentives from DApp providers.
The Chromia Network’s Security Paradigm: A Robust Framework
Chromia’s robust security framework is reinforced by a trifecta of cryptographic techniques, consensus mechanisms, and economic incentives. Leveraging public-key cryptography, Chromia ensures that transactions are authenticated by their senders and verified by their intended recipients. Furthermore, Chromia employs encryption to safeguard data against unauthorized access and tampering, thereby guaranteeing the integrity of sensitive information.
Moreover, the blockchain employs Byzantine Fault Tolerance (BFT) algorithms to ensure consensus among nodes regarding the network’s state and the validity of transactions. These algorithms can withstand up to one-third of malicious nodes without compromising the security or finality of the network. Ultimately, CHR tokens serve as a means of incentivizing nodes to provide hosting services and maintain the network’s security.
Acquiring Chromia (CHR): A Comprehensive Guide to Exchanges and Marketplaces
If you’re eager to discover the current market rate and optimal platforms for acquiring Chromia, the premier cryptocurrency exchanges for trading this digital asset include esteemed institutions such as Binance, BingX, Bybit, BTCEX, and Bitget. For a comprehensive list of alternative options, please refer to our dedicated crypto exchanges page.
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