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Copied ₹20.54
₹20.54
Market Cap
₹17.94 B -4.1834%
Circulating Supply
832406000
Max Supply
978064789
Volume
₹875.52 M
All Time High :
₹110.77
All Time Low :
₹0.6599
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24H High :
₹22.6
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₹21.36
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Chromia, a relational blockchain platform, aims to simplify the development of decentralised applications (DApps) and was founded by ChromaWay, an experienced blockchain solutions provider in 2014 across sectors like finance, real estate, and gaming. Notably, ChromaWay is known for introducing colored coins, which are customizable blockchain assets representing items like currencies and stocks. Chromia's primary goal is to enable a new wave of highly scalable DApps that can address real-world issues in domains including gaming, finance, healthcare, and governance. Some prominent examples of DApps on Chromia encompass My Neighbor Alice, a multiplayer blockchain game, as well as Green Assets Wallet for verifying green bonds, Hedget for decentralized options, and Corite, a blockchain-driven music streaming service. These applications underline Chromia's mission to transform industries through innovative and adaptable blockchain solutions.
Established in 2018, Chromia was founded by three visionary figures in the blockchain realm: Henrik Hjelte, Or Perelman, and Alex Mizrahi. These individuals had a prior collaboration on groundbreaking projects like Colored Coins, an early protocol enabling personalized blockchain assets, and Safebit, a user-friendly Bitcoin wallet. Their collective efforts also led to the establishment of ChromaWay, a company focused on delivering blockchain solutions across diverse sectors such as finance, real estate, gaming, and public services. Chromia's funding journey unfolds through three distinct rounds: The initial private sale transpired in 2018, yielding $3 million in investments from notable entities including NGC Ventures, FBG Capital, JRR Crypto, DFG Capital, OK Blockchain Capital, AlphaBit Fund, LD Capital, Du Capital, Bitrise Capital Partners, Chaince Capital Partners, and Waterdrip Capital Partners. A subsequent public sale occurred in 2019, securing $2.5 million from KuCoin Spotlight, a platform that showcases promising blockchain projects. During the same year, a seed round saw Chromia garner an undisclosed sum from a singular investor: Binance Labs, the venture arm of the renowned cryptocurrency exchange Binance. Adding to its financial backing, Chromia received a strategic investment from Animoca Brands, a prominent global developer and publisher of mobile games and blockchain gaming platforms, in the year 2020.
Chromia stands out as a blockchain platform tailored for decentralized application (DApp) deployment through smart contracts. Its uniqueness stems from several distinctive traits:
Relational Blockchain Architecture: Chromia employs a relational blockchain structure, where each network node possesses an individual relational database capable of efficient data storage and querying. This design leads to quicker transactions, reduced fees, and heightened scalability compared to traditional blockchains. Unlike other platforms that rely on a global state, Chromia employs a local state model per DApp, simplifying consensus and minimizing complexity.
Open-Source Development Environment: Serving as an open-source ecosystem, Chromia empowers diverse individuals to create DApps spanning gaming, finance, social media, and beyond. Developers benefit from the familiarity of languages like SQL and JavaScript to craft their DApps on Chromia. Built-in features such as authentication, encryption, indexing, and querying are readily available, negating the necessity for intricate coding or external services.
Flexible Blockchain Models: Chromia adapts to users' and developers' requirements, functioning as a public, private, or hybrid blockchain. This versatility grants enhanced control over DApp data and governance. Users determine data access and validation, while developers can customize fee structures and reward systems tailored to their DApps' specifics.
Scalability Focus: Chromia excels in scalability by affording each DApp its distinct blockchain that operates on a subset of network nodes. This approach lightens consensus-related demands and facilitates parallel transaction processing. Additionally, Chromia can establish interconnected blockchains in a hierarchical manner, enabling data sharing without compromising security or performance. With an impressive capability of handling up to 100,000 cell updates per second, Chromia stands as a robust solution for scalability demands.
Chromia employs a comprehensive security approach, combining cryptographic methods, consensus mechanisms, and economic incentives. It leverages public-key cryptography to guarantee transactions are signed by senders and authenticated by recipients. Encryption safeguards data against unauthorized manipulation and access. To ensure network integrity and transaction validity, Chromia employs Byzantine Fault Tolerance (BFT) algorithms. These mechanisms facilitate node agreement on network state and transaction legitimacy. Importantly, BFT algorithms maintain security and transaction finality even when faced with up to a third of malicious nodes. To further reinforce security and network stability, CHR tokens play a pivotal role. These tokens serve as rewards for nodes that provide hosting services and contribute to network security. This economic incentive structure bolsters the overall robustness of the Chromia ecosystem.
ChromaWay's Chromia Innovation Lab concluded its second Incubation Program of 2023 with a remarkable Demo Day, spotlighting a cohort of talented blockchain visionaries and their projects. The program provided a platform for over 60 participants from 10 innovative projects to transform ideas into tangible solutions. The event held both in-person and virtually, celebrated innovation and achievement in a dynamic hybrid format. Zara Zamani, ChromaWay's Chief Solutions Officer, commended the participants and highlighted the program's growth. Ebba Theding, Chief Financial Officer, emphasized the role of the program in fostering a vibrant blockchain ecosystem. Prof. Terrance E. Brown, head of the program, discussed its impact and nurturing environment. The investment team highlighted ChromaWay's impressive investment portfolio. The ten projects leveraged Chromia's 'relational blockchain' architecture, combining relational databases with blockchain decentralization. During Demo Day, each project showcased viability and growth potential, sparking discussions about partnerships and funding. ChromaWay's projects included Cyclothe AB, Latify, Little Fish Foundation, Monezo, NFT Labs, Inc., PAWZ, RakeIn, Riskoptima, StableBattle, and Uranus. Zara Zamani's closing remarks addressed market challenges, urging support and collaboration. Ebba Theding praised participants' skill and creativity, vital to industry growth. Prof. Terrence E. Brown thanked all involved and expressed excitement about potential funding opportunities. The event concluded with an after-work celebration, fostering camaraderie and collaboration. As the Incubation Program ended, Chromia Innovation Lab continued to drive blockchain innovation, with participants prepared to launch projects and revolutionize industries. For more information of Chromia (CHR), please visit Suncrypto Price Explorer
