What is Chromia (CHR)? Should we invest in CHR or not?
The eighth round of the new format Community Coin Vote between SWFTC and CHR has now started and will be open for 24 hours until 2020/05/07 4:00 AM (UTC). If Chromia (CHR) wins the vote and is listed on Binance.com, all participants that voted for CHR will split a total reward pool of 13,500,000 CHR, based on the number of votes from each participant. But, do you know what Chromia (CHR) is? Let’s find out with AZCoin News through today’s article!
— Chromia | Power to the Public (@Chromia) May 6, 2020
What is Chromia (CHR)?
Chromia is a relational blockchain platform designed to enable a new generation of dapps to scale beyond what is currently possible. It is built to support large-scale, mainstream applications. We designed it to give our users exactly what they want; fast support, useful features, with an affordable service cost.
With Chromia, dapps are hosted by professional providers. During our bootstrapping phase, all providers will be verified users, with a certifiable history of business operation.
CHR is Chromia’s native utility token. Users can use CHR tokens within dApps, and the dApps, in turn, pay transaction fees to block producers using the CHR token. Chromia allows dApps to issue CHR-backed tokens, while investors of dApp projects can be compensated in CHR through a profit-sharing contract. For developers, Chromia offers the opportunity to derive income from their dApps, with popular dApps generating more income demand for tokens owned by the developer. Current implementations of dApps on Chromia involves finance, gaming, real estate, and healthcare. In the future, Chromia will also focus on dApps involving supply chain, enterprise services, and IoT.
Key features of Chromia (CHR)
- A relational model: Blockchain data and application state are stored in a relational database. This model is considered to be best in class in terms of flexibility, versatility, and consistency
- A relational programming language: Chromapolis dapp backends are written in a specialized language that is deeply integrated with the relational model. This model increases programmer productivity and ensures application consistency
- Horizontal scaling: Each dapp has its blockchain(s). Because a subset of nodes runs each blockchain, it is possible to increase total throughput by increasing the number of nodes
- Rich indexing and querying: Dapps can quickly retrieve the information they need directly from nodes running the application. Dapp blockchain logic can perform complex queries without severe performance degradation
- High I/O throughput: data queries and updates are delegated to a heavily optimized relational database, allowing dapps to perform a large number of questions and data update operations
- PBFT-style consensus: Transactions can be confirmed within seconds
- First-class dapps: Dapps do not arise from “smart contracts” in Chromapolis, but are considered first-class entities. Chromapolis gives dapp developers a high degree of flexibility and control
- Dapp level provisioning: allocating resources to dapps rather than contracts offers developers the freedom to create their fee and resource use policies.
Besides, in the early months of 2020, we can take a look at some news about Chromia as follows:
- April 2020: Participated in #HackTheCrisis, a hackathon in Sweden
- March 2020: Released version 0.8 of Chromia’s programming language, Rell (Rell is a programming language, developed explicitly for Chromia, by Chromia.)
- February 2020: Released Chromia Vault, Single Sign-On, and Explorer in testnet
- February 2020: Released Rell tutorials on YouTube
What makes Chromia unique, better than the other coins?
Chromia is not a coin; Chromia is an ecosystem for dapps. Chroma (CHR) is a native currency of Chromia. This currency is a fuel for the platform with unlimited potential, which is why we genuinely believe it will be in demand.
The token will be used as a native payment mechanism so that dapps can interact and pay each other with the native currency. It will also be used to pay for dapp hosting and other services on the Chromia network. The token is used to create incentives for the network consensus to work by rewarding block producers who follow the rules and punish those that try to cheat.
Should we invest in CHR or not?
Below is information about CHR provided by Binance:
- Token type: ERC-20
- Price: $ 0.02427 (274 sats)
- Current market cap: $ 5.18 MM
- 24H volume: $ 1.64 MM
- 30-day avg. volume: $ 1.53 MM
- Circ. supply: 214,483,076 CHR (21.45%)
- Total supply: 1,000,000,000 CHR
- Private Sale: Conducted from May 1st to August 20th, 2018, for 0.05 USD / CHR at an average rate of 7,736.75 USD = 1 BTC, 270.21 USD = 1 ETH, and raised a total of 9.70MM USD. The Private Sale was conducted in USD, BTC, and ETH, and raised a total of 138,351.25 USD, 23.37 BTC, and 34,717.57 ETH
- IEO Sale: Conducted on May 28th, 2019, via KuCoin for 0.05 USD / CHR at an average rate of 1.10 USD = 1 KCS and raised a total of 2.00MM USD. The IEO Sale was conducted in KCS only and raised a total of 1,818,181.82 KCS
Token supply distribution | Source: Binance Research
We can not give investment advice, because Chromia only focus is on developing great technology and a great platform, once that is in place, the community will do the rest. But generally, we recommend instead of “investing in crypto,” invest your time in gaining knowledge in the domain to distinguish great tech from crap.
Token release schedule | Source: Binance Research
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