Chromia (CHR) is a relational blockchain platform designed to allow the new generation of dApps to expand on what is currently possible. It is built to support mainstream, large-scale applications, providing users with exactly what they want such as fast support, useful features, affordable service costs.
With Chromia, dApp is hosted by professional vendors. During the self-resolution phase, all vendors will be verified users, with a confirmed business activity history.
CHR is Chromia’s utility token. User uses CHR token in dApp. And dApp pays transaction fees to block producers using CHR tokens. Chromia allows dApps to issue CHR-supported tokens, while dApp project investors can be compensated with CHR through profit-sharing contracts. For developers, Chromia offers the opportunity to earn revenue from their dApp. Popular dApps create more revenue demand for developer-owned tokens. dApp currently operates on Chromia related to finance, gaming, real estate and healthcare. In the future, Chromia will focus on applications related to supply chains, business services, and IoT.
Features of Chromia (CHR)
- Relational model: Blockchain data and application state are stored in relational databases. This model is considered to be the best in terms of flexibility and consistency.
- Relational programming language: The dApp processing on Chromapolis is written in specialized language deeply integrated with the relational model. This model increases programming productivity and ensures application consistency.
- Horizontal scaling: Each dapp has its own blockchain. Because a subset of nodes runs on each blockchain, it is possible to increase the total throughput by increasing the number of nodes.
- Diverse indexing and querying: dApp can quickly retrieve the necessary information directly from the nodes running the application. The logic of blockchain dApp performs complex queries without seriously degrading performance.
- High I / O throughput: Querying and updating data is authorized for robust relational databases, allowing dApps to perform a large number of questions and data update operations.
- Consensus in PBFT style: Transaction can be confirmed within seconds.
- First-class dApp: Dapps do not arise from “smart contracts” in Chromapolis, but are considered first-class entities. Chromapolis provides dApp developers with a high degree of flexibility and control.
- Provide dApp level: Allocating resources to dApps instead of contracts gives developers the freedom to create resource usage policies and fees.
Chromia technology (CHR)
CHR is built on an existing platform called Postchain, an SQL-based blockchain database, which is being used to register real estate in Sweden. Tests have shown that Postchain can achieve a processing speed of 500 to 100 thousand transactions per second with an update time for confirmations of 1 second. The main goal of the project and the platform is a decentralized database located on the blockchain. This helps dApps solve the scalability problem.
The Chromia platform is designed to address current dApps issues:
- Users have to pay high transaction fees
- Security
- Unfriendly interface
- Lack of scalability
To minimize programming errors and control resource usage, a new language called Rell will be introduced to create dApps. Rell is confirmed to be 7 times smaller than SQL and allows programming to address process errors. Unlike Ethereum, the built-in admin mechanism will allow fixing errors even when dApps are active.
Team
CEO Henrik Hjelte is Chromaway director and co-founder, with experience in developing blockchain-related solutions for government and finance. In 2012 he created the revolutionary ColoredCoins project that uses Bitcoin for exchange of assets, including gold, fiat money and real estate.
Perelman is also experienced with blockchain, starting in 2011 with Safebit, storage wallets and platforms for crypto assets. He is also the co-founder of ColouredCoins and marketing director of crypto application bitBlu.
Chief technology officer Alex Mizrahi has many years of experience as a developer. From 2000 to 2012, Alex was a software developer of many projects on 3D graphics, machine learning and mobile applications. In 2012, he joined Henrik and Or to develop Colored and then co-founded Chromaway as chief technology officer.
Solution Chief Engineer Jorgen Modin has over 20 years of experience. He is currently a partner of Webworks Sverige AB and worked for Informa, IBC Euroforum DK and Spiri.
Technical Director August Botsford has expertise in information security. He got his doctorate in 2017.
Conclusion
Chromia offers an approach in developing dApps when addressing the problems of existing blockchain systems. CHR focuses on business-oriented, dApps that need fast and reliable databases, and don’t pay too much for each transaction.
The team has grown quite well and has had a lot of experience working together at Chromaway since 2014. They have successful projects, used by financial institutions and government.
You can check CHR price here.
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