Chromia Launches MVP Mainnet and Introduces CHR Token
In Brief
Chromia has officially rolled out its Minimum Viable Product (MVP) Mainnet, marking a pivotal step for the Chromia ecosystem while unveiling its own CHR token.
Layer 1 relational blockchain platform Chromia (CHR) has announced the launch of its Minimum Viable Product (MVP) Mainnet, a crucial milestone for the Chromia platform, alongside the introduction of its native token, CHR.
"Our adventure began over a decade ago with Colored Coins, which was the first worldwide token protocol. Afterward, we developed a bank-backed stablecoin and recognized the promise of merging relational databases with blockchain technology, which led to the creation of Chromia,\" remarked Henrik Hjelte, Chromia’s co-founder. \"After several years of hard work, we are ecstatic to finally bring the vision of relational blockchain into reality,\" he concluded.
This launch will allow users to transition existing tokens CHR token , which were initially issued as ERC-20 tokens on Ethereum and BEP-20 tokens on BNB Chain, to the MVP Mainnet. Once deployed, the MVP Mainnet will enable essential features of the CHR token that are vital for the network’s functionality and security, which include managing hosting fees for payment networks and distributing payments to service providers within the MVP Mainnet framework.
Chromia's Relational Blockchain Revolutionizes On-Chain Data Management
Operating as a Layer 1 relational blockchain, the platform employs a flexible structure aimed at providing users with personalized decentralized application (dApp) blockchains, adaptable fee schedules, and digital assets. It features real-time indexed data that can be queried natively, improving user engagement and supporting innovative Web3 business models.
Developed by ChromaWay, this relational blockchain technology redefines how on-chain data is structured, making complex searches and calculations on the blockchain more straightforward. This innovation circumvents the need for external indexing services, data availability layers, and RPC servers.
Moreover, Chromia It challenges conventional blockchain economics by letting developers lease resource containers and create their revenue streams, which simplifies user interactions and enhances the overall experience within the blockchain environment.
As the MVP Mainnet sets the framework for the network’s core operations, the next phase of its development is expected to witness an uptick in network activity. Specifically, a rise in total value locked (TVL) is anticipated, with numerous projects in the ecosystem launching dApps and facilitating the bridging of additional assets from EVM-compatible blockchains to Chromia.
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