Learn What is Chromia (CHR)? Details about Chromia project and CHR coin

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2022-01-18 20:35:31

What is Project Chromia (CHR)?

Chromia (CHR) is a blockchain platform that combines technology between Blockchain and Relational Database – Database for decentralized applications, conceived to meet the shortcomings of existing platforms and designed to enable a new generation of dApps to expand beyond existing capabilities. Chromia was formerly known as Chromapolis. The goal of the project is to build its own Blockchain network that allows the development of easy, efficient dApps with higher throughput.

Chromia’s structure

  • Chromia uses the Framework of PostChain (Postchain is a Blockchain research project designed mainly for relational federation).
  • Chromia’s blockchain is built on the consensus mechanism of PBFT algorithms. DApps built on Chromia can run on a private blockchain of the form (Sidechain, in the diagram below dApp Chain).
  • These Sidechains are a collection of validator nodes (Validator) which is a subset of all Nodes belonging to Chromia.

At a higher level, the PBFT consensus mechanism is anchored to a Bitcoin or Ethereum Proof of Work chain. This enhances the security of the Chromia blockchain.

  1. Chromapolis Provider Pool: Pool providers
  2. Directory Chain: ONLYThe operating chain tracks the entire node distribution of the chain system and dApp chains.
  3. Token Chain: Token CHR acting as a guarantor of consensus and security across the network, fueling the entire operation.
  4. dApp chain: Are dApp’s own chains, and unlimited.
  5. Anchoring Chain: An anchor chain connecting the Chromia chain and the PoW Chain Chain
  6. PoW Chain: Anchoring Chain anchored to one or more Proof of Work blockchains such as Ethereum or Bitcoin

This structure allows Chromia to achieve the following performance:

  • Transaction confirmation time is less than 1 second
  • Transaction rate: > 500 TPS per sidechain. The overall rate in the whole system is unlimited.
  • IO capacity (input/output) > 100k updates and reads per second

The The application of the Chromia blockchain is aimed at

  • Chromia aims to be a decentralized data storage center for today’s dApp system. Chromia is database-centric, so it’s particularly suitable for applications that are similar to databases in their nature or deal with complex data schemas, complex queries, programming, etc. index, etc
  • Chromia is a payment and transaction efficient blockchain that supports 50 million transactions per day. The goal is to be InterBlockchain, moving tokens between different blockchains in Chromia. Non-Chromia blockchains may be supported in the future.
  • Chromia is suitable for games on the current blockchain, allowing read and write data of 100k I/O per second, this in Ethereum is only 1,500.

The ecosystem of applications that Chromia currently has

My Neighbor Alice Game Platform is a multiplayer Blockchain building game where anyone can buy and own virtual islands, collect and build interesting items and meet new friends

LAC PropertyChain is a land management initiative in Latin America and the Caribbean powered by Blockchain Chromia. Funded by the Inter-American Development Bank, this project has developed an open source application that facilitates asset transactions.

Hedget an insurance platform for futures contracts, providing insurance services for crypto assets.

Roadmap

Milestones achieved:

  • Consensus system: EBFT
  • FT3 & SSO: Flexible token is the Chromia token standard, supporting fungible and non-fungible tokens (NFTs) of arbitrary complexity, as well as the implementation of Chromia SSO, a decentralized authentication scheme that enables logins. seamlessly into the dApp without exposing the original key pair.
  • Blockchain dependency (blockchain dependency) is a major milestone on the road to hierarchical interconnected blockchain networks supporting Chromia’s massive scale. Allowing one blockchain to pull data from another means not only greater efficiency, but also the ability to use decentralized governance to update configurations and parameters for dependent blockchains.
  • Postchain 3 is the third major release of Postchain, the relational blockchain technology that underpins the Chromia platform. Postchain 3 features an evolved transaction scheme (GTX) with a full serialization of value (GTV) model and proof extractor and also introduces a Postchain management mode.
  • Special deals: Transaction feature of block producers when bringing data from layer 2 to layer 1
  • Chromia Vault is a wallet software and dApp gateway. It enables decentralized authentication and token management for dApps running on other chains. It is a decentralized application in itself.
  • Chrome Explorer is a decentralized blockchain explorer, possibly the first of its kind in the world.

Plans are being implemented and developed in the near future

  • Adding Postchain features to complete the system.
  • Container Resource Management for dApps: Resource management framework for dApps on vendor Nodes, enabling decentralized resource allocation.
  • Blook hooks: This feature makes it possible for any Chromia blockchain to automatically perform an action at the beginning or end of any block.
  • Layer 2 System for Ethereum
  • Ephemeral dependencies
  • Cross-chain communication system
  • Launching the Dev chain

What is Chromia Token (CHR)?

Chromia (CHR) is the token of the Chromia platform. Has the following features:

  • Currency role: dApps built on Chromia collect fees or use them to lock in their tokens.
  • Service fee role: for the dApp to store data and pay for the network’s nodes.
  • Staking role: users who support the staking network receive CHR . rewards
  • Network security role: CHR is pegged to ERC-20 tokens to maintain system security.

The role of CHR is to pay for the platform’s services, distributing transaction fee revenue across all services and products that Chromia provides to Validators and users who have staked CHR.

Some basic information about Chromia token (CHR)

  • Token Name: Chromia Token
  • Ticker: CHR
  • Blockchain: Ethereum
  • Standard Tokens: ERC-20
  • Contract Address: 0x8a2279d4a90b6fe1c4b30fa660cc9f926797baa2
  • Supply of circulation:369,439 CHR
  • Amount Staked:235,054 CHR
  • Initial total supply: 000,000,000 CHR
  • Total supply after burning:000000 CHR

Chromia Token Allocation (CHR)

  • QEcosystem Trust: 06%
  • Promotion Fund: 25%
  • Private Sale: ninety four%
  • Founder: 5%
  • IEOs: 4%
  • Automatic conversion contract: 3%
  • Adviser: 3%
  • Team: 5%
  • Node system: 2%

Partners and investors

Earn and own Chromia tokens (CHR)

Today’s convenient way is for you to trade on 3 major exchanges that are Binance, Kucoin, Huobi Global.

Chromia token storage wallet (CHR)

CHR is a token in the form of an ERC-20 Token, which you can store in most standard App wallets today such as: Metamask, Trust Wallet, Coinbase Wallet.

Or directly hosted on the exchanges mentioned above.

Chromia is the startup project of the company ChromiaWay, this is the premise to lead an innovative and sustainable product of a project. Chromia has been developing in the past time, not only increasing the value of the token, currently the project is still updating a lot of partners and perfecting its ecosystem. All information in the article is information compiled by Coin68 and does not constitute investment advice.

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