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Chromia (blockchain)

From EverybodyWiki Bios & Wiki





Chromia
File:Chromia-logo-dark.svg
Previous namesChromapolis
Development
White paperPlatform white paper
Initial release2019-05-20
Code repositorygitlab.com/chromaway/
Developer(s)ChromaWay
Source modelOpen-source
Websitechromia.com
Ledger
Timestamping schemeProof-of-stake
Block explorerexplorer.chromia.com
Circulating supply838.34M
Supply limit978.06M

Search Chromia (blockchain) on Amazon.

Chromia (initially Chromapolis) is a blockchain platform that stores information in a relational database format, developed by the Swedish company ChromaWay AB. It is designed to enable decentralized applications (dApps) with an emphasis on scalability, user-friendliness, no gas fees, and real-world use cases, particularly in gaming, finance, traceability, and real estate.

History

ChromaWay AB was founded in 2014 by Henrik Hjelte, Or Perelman, Alex Mizrahi, and Iddo Bentov after they had only met online.[3] The founders had been involved with Colored Coins technology to expand blockchain usage beyond cryptocurrency, and later created the Chromia blockchain to support broader real-world applications.[4][5]

In 2017, an early prototype of Chromia powered a pilot test to put land records in Visakhapatnam, Andhra Pradesh, India, on the blockchain.[6][3] In 2018, the prototype also played a key role in a pilot project with Sweden’s land registry Lantmäteriet to implement blockchain technology in real estate transactions.[7]

In 2020, the Chromia technology was utilised in ChromaWay’s partnership with the Inter-American Development Bank to enhance transparency in land transactions working with government agencies in Bolivia, Peru, and Paraguay.[8][9]

In July 2024, Chromia launched its mainnet,[10][11] and in December, Chromia completed the Asgard upgrade of their mainnet.[12]

In 2024, Chromia was also included on the Amazon Web Services (AWS) Partner Network.[13]

In September 2024, Chromia announced a US $20 million Data & AI Ecosystem Fund to support data-intensive and AI-enabled blockchain projects.[14]

Technology

Chromia is a layer-1 blockchain that integrates relational database technology, allowing developers to build decentralized applications more efficiently compared to traditional blockchain networks. It aims to provide high transaction throughput and a more intuitive development environment by using its Rell programming language.[4][15]

Chromia utilizes a modular architecture where each decentralized application operates on its own blockchain.[11] The Chromia network includes a staking system, where participants can stake tokens to support network operations and receive periodic rewards based on their contribution.[10][11] The platform employs a hosting model where decentralized application developers cover network costs.[11]

The mainnet launch introduced a new native CHR token, also issued as ERC-20 and BEP-20 tokens.[10] The network supports interoperability with Ethereum Virtual Machine and Binance Smart Chain (BSC).[10][16] The Asgard upgrade 2024 introduced an Extensions Framework to allow additional specialized capabilities to be integrated into the blockchain.[12]

Use Cases

Chromia is designed to facilitate the development of decentralized applications, aiming to enhance scalability, user-friendliness, and eliminate traditional gas fees or transaction costs for users. The platform supports a variety of real-world use cases, particularly in industries such as gaming, real estate, finance, and traceability.[17][3]

One of Chromia's most prominent applications is in blockchain gaming. The company’s subsidiary, Antler Interactive, developed My Neighbor Alice, a decentralized game utilizing non-fungible tokens (NFTs) that gained significant attention after its token, Alice, surged in value upon listing on Binance.[18] The platform has also been used in the creation of metaverse game Mines of Dalarnia.[3]

Early versions of Chromia have also been used in real estate and land registry projects, including pilots in Sweden, India and Latin America aimed at improving transparency and security in property transactions.[17][7][9][6]

Chromia is applied for traceability, enabling tracking of products through supply chains and product lifecycles to enhance food safety, provenance verification, and compliance tracking.[19] Chromia is also utilized in the finance sector, enabling the development of decentralized finance applications.[3]

Chromia have also announced a $20 million fund to support blockchain- and AI-driven applications.[20]

Funding

ChromaWay has secured multiple rounds of investment to fund Chromia's development. In 2018, the initial funding was made through an initial coin offering worth $15 million.[21] In 2022, the company raised 90 million SEK (approximately $10 million USD) from True Global Ventures and others to expand its blockchain ecosystem.[17][22][3]

References

  1. ↑ "Chromia (CHR) price, market cap, and info". CoinMarketCap. Retrieved 2025-02-08.
  2. ↑ "Chromia Platform Whitepaper" (PDF). Chromia. 2019-05-20. Retrieved 2025-02-08.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 Pratama, Aditya Hadi (2022-01-13). "Animoca Brands investor leads $10m round of a Web3 pioneer". Tech in Asia. Retrieved 2025-02-08.
  4. ↑ 4.0 4.1 Kuznetsov, Nikolai (2024-07-22). "Blockchain's Long-Term Impact Is Underestimated: A Chat with Chromia Co-Founder Henrik Hjelte". TheStreet. Retrieved 2025-02-08.
  5. ↑ Widhagen, Emil (2022-04-22). "Svenska blockchain-doldisen gör monstervinst – behåller allt för att skala upp". Breakit (in svenska). Retrieved 2025-02-08.
  6. ↑ 6.0 6.1 Chakraberty, Sumit (2017-11-20). "Tomorrowland: Indian state's pilot shows the world how to put land records on blockchain". Tech in Asia. Retrieved 2025-02-08.
  7. ↑ 7.0 7.1 Ottsjö, Peter (2019-05-14). "ChromaWay tar blockkedjan till nästa nivå". Ny Teknik (in svenska). Retrieved 2025-02-08.
  8. ↑ Cant, Joeri (2019-10-28). "Major Latin American Development Bank Pilots Blockchain for Land Registry". Cointelegraph. Retrieved 2025-04-14.
  9. ↑ 9.0 9.1 Sinclair, Sebastian (2020-05-06). "Chromaway Expands Effort to Put Latin American Land Records on the Blockchain". CoinDesk. Retrieved 2025-02-08.
  10. ↑ 10.0 10.1 10.2 10.3 Keoun, Bradley (2024-07-11). "Protocol Village: Arthur Hayes-Backed Maelstrom Pledges Grants for Open-Source Bitcoin Devs". CoinDesk. Retrieved 2025-02-08.
  11. ↑ 11.0 11.1 11.2 11.3 "A conversation with Alex Mizrahi, Co-Founder and CTO, Chromia". DL News. 2024-07-09. Retrieved 2025-02-08.
  12. ↑ 12.0 12.1 Sopov, Vladislav (2024-12-03). "Chromia (CHR) Completes Asgard Network Upgrade: Details" Check |url= value (help). U.Today. Retrieved 2025-02-08.
  13. ↑ Benjamin, Godfrey (2024-07-06). "Chromaway Onboards AWS Partner Network". Coinspeaker. Retrieved 2025-02-08.
  14. ↑ Benjamin, Godfrey (2024-09-19). "Chromia Launches $20M Data and AI Ecosystem Fund". Coinspeaker. Retrieved 2025-07-06.
  15. ↑ Akolkar, Bhushan (2024-07-03). "Layer-1 Chromia MVP Mainnet Launching on July 16, 2024". Coinspeaker. Retrieved 2025-02-08.
  16. ↑ Finneseth, Jordan (2021-11-01). "Upcoming parachain auctions send Polkadot to new ATH while CHR and THETA follow". Cointelegraph. Archived from the original on 2025-07-24. Retrieved 2025-02-08.
  17. ↑ 17.0 17.1 17.2 Ek, Henrik (2022-01-13). "Global kryptofond investerar när 'Sveriges Ethereum' tar in 90 miljoner". Dagens Industri (in svenska). Retrieved 2025-02-08.
  18. ↑ Ek, Henrik (2021-03-15). "Svenska kryptovalutan släpptes i går – har rusat 30 000 procent". Dagens Industri (in svenska). Retrieved 2025-02-08.
  19. ↑ "Traced Systems: Blockchain Solutions for Supply Chain Transparency". Retrieved 2025-02-10.
  20. ↑ Benjamin, Godfrey (2024-09-19). "Chromia Launches $20M Data and AI Ecosystem Fund". Coinspeaker. Retrieved 2025-02-08.
  21. ↑ Lundell, Stefan (24 October 2018). "Chromapolis får in 135 miljoner – nu utmanar Henrik Hjelte Ethereum". Breakit (in svenska). Retrieved 10 February 2025.
  22. ↑ Blixt, Tobias (2022-01-13). "ChromaWay fyller kassan med 90 miljoner – 'Har varit pionjärer'". Breakit (in svenska). Retrieved 2025-02-08.

External links

Category:Blockchains Category:Cross-platform software Category:Cryptocurrencies Category:Cryptocurrency projects Category:Relational database management systems Category:2014 establishments in Sweden


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