Pioneering blockchain platform Chromia has announced that the launch of its MVP Mainnet will happen on July 16.
Not only will this launch be a major milestone in the project’s quest to revolutionize blockchain technology, it will also establish the foundational network for Chromia as well as mark the genesis of its native CHR token.
A New Era for Chromia
The project’s current tokens, which are launched as ERC-20 and BEP-20 tokens on Ethereum and Binance, will be bridged to the MVP Mainnet once launched. This will subsequently activate the vital core functions of the network’s security and operation, including the payment of network hosting fees and provider payouts.
Reflecting on the project’s journey, Chromia co-founder Henrik Hjelte said, “Our journey began twelve years ago with Colored Coins, the world’s first token protocol.”
“Following this, we launched a bank-backed stablecoin and recognized the potential of integrating relational databases with blockchain, inspiring the creation of Chromia,” Hjelte added. “After years of development, we are thrilled to see the concept of relational blockchain become a reality,” continued the project’s co-founder.
Meanwhile, Alex Mizrahi, also a Chromia co-founder, said that the project “combines blockchain architecture with ideas from cloud computing and database theory to provide a full spectrum of tools needed to deliver an amazing end user experience.“
Mizrahi believes that the launch will set the stage for the future growth of the network, and is excited to see what applications developers will create on the blockchain.
Innovative Technology
Developed by ChromaWay, Chromia’s relational blockchain technology fundamentally changes how data is structured on the blockchain. Their approach merges the strengths of relational databases with the security and decentralization of blockchain, resulting in a more efficient and secure database system.
This innovative method aims to provide a platform that can support increasingly ambitious blockchain projects by incorporating the robust data storage and processing capabilities of relational databases, which have been integral to enterprise and commercial software for decades.
What’s more, Chromia’s unique approach to blockchain economics allows developers to ‘lease’ resource containers and create their own revenue streams, reducing friction for end users and enabling innovative Web3 business models.
