Chromia, a Layer-1 blockchain developed by ChromaWay AB, is gearing up to launch its Minimum Viable Product (MVP) Mainnet on July 16. This exciting development comes after the successful launch of the incentivized testnet, which offered a 250,000 CHR token reward pool to participants.
The MVP Mainnet launch will serve as a crucial milestone for Chromia, laying the groundwork for the network’s development and introducing the native token CHR. The current CHR tokens issued on the ERC-20 and BEP-20 token standards will be bridged to the MVP Mainnet, as announced by the Chromia team.
Key core functions, such as the payment of network hosting fees and provider payouts, will be included in the MVP Mainnet to ensure the smooth operation and security of the Chromia network.
Chromia’s journey began 12 years ago with the development of Colored Coins, the world’s first token protocol. Over the years, the team behind Chromia recognized the potential of integrating relational databases with blockchain technology, leading to the creation of Chromia. According to co-founder Henrik Hjelte, the MVP Mainnet launch is the realization of this vision after years of dedicated development.
One of the key features of Chromia’s L1 network is its use of relational blockchain technology, which revolutionizes how data is structured on-chain for decentralized applications (dApps). By employing a modular framework, Chromia enables users and developers to conduct complex on-chain calculations and searches, offering dedicated dApp chains for improved data handling, scalability, and customizable fee structures.
The technology behind Chromia’s L1 blockchain eliminates the need for third-party indexing services, RPC servers, and data availability layers, providing a seamless experience for developers and users alike. Co-founder Alex Mizrahi highlighted that Chromia combines blockchain architecture with concepts from cloud computing and database theory to deliver a comprehensive set of tools for creating exceptional dApps.
Following the MVP Mainnet launch, Chromia aims to increase network activity gradually and grow the platform’s total value locked (TVL). The CHR token price has already seen a 12% spike in the past 24 hours, with a notable surge on Tuesday propelling it from $0.23 to $0.26.
As Chromia continues to expand its ecosystem and enhance its capabilities, developers and users can look forward to a robust and innovative blockchain platform that promises a new era of decentralized applications and digital asset management.