Chromia, a standalone Layer-1 blockchain, is ready to launch its Minimal Viable Product (MVP) mainnet on July sixteenth.
The announcement comes as Chromia launches an incentivized testnet providing a 250,000 CHR token reward pool.
The launch of the MVP mainnet will lay the muse for Chromia’s community growth and introduce its native token, CHR. The Chromia group introduced that the present CHR token, issued within the ERC-20 and BEP-20 token requirements, has been bridged to the MVP mainnet.
The MVP mainnet can even introduce core performance important to Chromia’s operations and safety, similar to community internet hosting payment funds and supplier funds.
What’s Chromia?
The Chromia blockchain was developed by ChromaWay AB, a Swedish blockchain firm. Chromia shouldn’t be solely an L1 relational blockchain, but additionally an EVM-compatible L2 extension for Ethereum and Binance Sensible Chain.
Based on Chromia co-founder Henrik Hjelte, the launch of the MVP mainnet marks the end result of a 12-year journey.
“Our journey started 12 years in the past with Coloured Cash, the world’s first token protocol. We then launched a bank-backed stablecoin and acknowledged the potential of integrating relational databases with blockchain, which led to the creation of Chromia. After a number of years of growth, we’re excited to see the relational blockchain idea develop into a actuality.”
Chromia’s know-how and the advantages it brings to dApp builders
Chromia’s L1 Community leverages relational blockchain know-how to primarily change the construction of information on-chain for the subsequent technology of decentralized functions (dApps).
The platform makes use of a modular framework to allow customers and builders to carry out advanced on-chain calculations and searches, and customers can leverage devoted dApp Chains to enhance knowledge processing, scalability, customizable payment constructions, and digital property.
L1 Blockchain know-how eliminates the necessity to depend on third-party indexing providers, RPC servers, or knowledge availability layers.
“Chromia combines blockchain structure with concepts from cloud computing and database principle to offer customers all of the instruments they should ship superb end-user experiences. This launch lays the muse for the long run development and growth of our community, and we sit up for seeing what builders create with our know-how,” Chromia co-founder Alex Mizrahi mentioned in a press release.
Following the launch of the MVP mainnet, Chromia goals to progressively enhance community exercise and likewise enhance the platform’s complete locked worth (TVL) within the subsequent section.
The value of the CHR token has risen 12% prior to now 24 hours, surging on Tuesday from a low of $0.23 to $0.26.
