Chromia

What is Chromia?

Chromia stands as a relational blockchain platform with the primary goal of simplifying the development of decentralized applications (DApps). Established by ChromaWay, a company deeply engaged in blockchain solutions since 2014 across diverse sectors like finance, real estate, gaming, and public services, it is renowned for introducing colored coins. These coins, customizable assets on a blockchain, have the versatility to represent anything from currencies to stocks to collectibles.

Chromia envisions facilitating a new era of DApps capable of scaling beyond existing limits and tackling real-world challenges across various domains, including gaming, social media, finance, healthcare, education, governance, and more.

Among the array of DApps residing on Chromia are notable examples such as My Neighbor Alice (ALICE), a multiplayer blockchain game; LAC PropertyChain, a land registry system; Green Assets Wallet, a platform for verifying green bonds; Hedget (HGET), a decentralized options protocol; Corite (CO), a music streaming service; Chain of Alliance (COA), a strategy game; Vault12, a digital asset custody solution; and Domenation, a blockchain gaming project.

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Recent Video Interview

Main points of the interview:

• Scalability and user-friendly interfaces, allowing complex DApps without requiring token ownership.
• Uses a voting scheme for transaction acceptance.
• Notable Advisors: industry figures like Charlie Lee and Vinny Lingham.
• Focuses on government projects, including Land Registries in Sweden, collaborations with UN Women...

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How Does Chromia Work?

Chromia innovatively integrates a blockchain into a database and introduces a lightweight software layer for managing voting and consensus. This framework establishes nodes, distributed among diverse independent participants. When a data write request is initiated, it is directed to one of these nodes, which then disseminates the information to others. The nodes collectively scrutinize the request, and once unanimous, the data is inscribed and logged within the blockchain.

Chromia's approach involves storing blockchain data and application state in a relational database, offering adaptability, versatility, and consistency. This unique feature positions Chromia as an ideal solution for both enterprise blockchain applications and independent public blockchains. Additionally, Chromia serves as a Layer 2 solution for Ethereum, enhancing cost-effectiveness and transaction speed in development.

Developers can harness the power of Rell, a proficient and universal programming language crafted by Chromia and rooted in SQL, to construct a diverse array of applications.

Chromia Team Background

Established in 2018, Chromia was brought to life by three trailblazers in the blockchain realm: Henrik Hjelte, Or Perelman, and Alex Mizrahi. Prior to this venture, they collaborated on significant projects like Colored Coins, a pioneering protocol facilitating user-defined assets on a blockchain, and Safebit, an accessible Bitcoin wallet designed for user convenience. The trio also laid the foundation for ChromaWay, a company dedicated to delivering blockchain solutions across diverse sectors, including finance, real estate, gaming, and public services.

Chromia is backed by 21M, Arrington, Factblock, Bitscale, Bitsize, JRR Crypto, and more.

Chromia Project Development

Some of the developments in progress from Chromia are:

• Chromia Mainnet Rollout: Upon the completion, testing, and thorough auditing of all essential components, the Chromia mainnet is slated for launch. Continuous optimization and upgrades to mainnet operations will be a focal point as we progress into the future.
• Testnet Expansion Phase: The key focus for 2023 is the development of the Chromia testnet and the broader ecosystem in preparation for the mainnet launch. Due to the inherent unpredictability of software development, a fixed timeline for the completion of this phase is not predetermined. Once the Testnet attains full functionality, stability, and security, an official mainnet launch date will be established, initiating the countdown to the mainnet launch.
• Native CHR Tokens: Following the implementation of tokens, support for native CHR will be incorporated. Native CHR is conceptualized as a distinct token class, under the control and governance of the system chain level.

Chromia Price Analysis

As of November 24 2024 Chromia has a marketcap of $202M. This is {{percentagefromath}} from its all time high of $1.49. In terms of its tokenomics, there's a total supply of 828M with 100% currently outstanding. Keep in mind Chromia has a fully diluted value of $202M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.