Chromia Announces It Will Launch MVP Mainnet on July 16th
Stockholm, Sweden, July 2nd, 2024, Chainwire
Chromia has announced the launch of its MVP Mainnet. July 16 has been set as the date when its relational blockchain network will go live.
The MVP Mainnet will establish the foundations of the Chromia network and mark the genesis of the native CHR token. Its launch will enable the current CHR token, which has been issued as ERC-20 on Ethereum and BEP-20 on BNB Chain, to be bridged to the MVP Mainnet.
Upon going live, the MVP Mainnet will initiate core functions of CHR that are integral to the network’s operation and security. These include the payment of network hosting fees, and provider payouts, all of which will be handled exclusively on Chromia’s MVP Mainnet.
Chromia co-founder Henrik Hjelte said: “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.”
Chromia co-founder Alex Mizrahi said: “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.”
Developed by ChromaWay, relational blockchain is a technology that fundamentally changes the way data is structured on-chain, making it easier to perform complex searches, and on-chain calculations. It also removes reliance on third-party indexing services, data availability layers, and RPC servers.
Chromia further differentiates itself from existing platforms by reimagining traditional blockchain economics. Developers are able to ‘lease’ resource containers and create their own revenue streams, removing friction for end users and enabling new Web3 business models.
The result is a blockchain that offers a more streamlined user experience while maintaining the permissionless and decentralized nature of blockchain. For example, users can start interacting with dapps even if they don’t own any cryptocurrency.
With the MVP Mainnet establishing Chromia’s core network functions, the next phase of its evolution will see a gradual increase in network activity. This will serve to grow the TVL as ecosystem projects deploy dapps and additional assets become bridgeable from EVM chains to Chromia.
About Chromia
Chromia is a Layer-1 relational blockchain platform that uses a modular framework to empower users and developers with dedicated dapp chains, customizable fee structures, and enhanced digital assets. By fundamentally changing how information is structured on the blockchain, Chromia provides natively queryable data indexed in real-time, challenging the status quo to deliver innovations that will streamline the end-user experience and facilitate new Web3 business models.
Learn more: https://www.chromia.com/
