Summary of notable news about Chromia (CHR) in July 2022

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2022-08-03 13:35:46

Summary of notable news about Chromia (CHR) in July 2022

TL;DR:

  • Update development roadmap on Chromia website;
  • Overview of remaining mainnet components;
  • Summary of notable news and events of the past month.

Route update

In August, Chromia will be making several updates to the development roadmap on the website to more accurately reflect the current state of affairs. While the new roadmap still won’t announce an official mainnet date, Chromia plans to insert an update framework on the Mainnet Launch.

D1 . network system

The D1 network system is a collection of discrete components that are interconnected to keep Chromia running.

The directory chain is responsible for coordinating the entire network and stores all the information needed to operate the network, such as the list of providers and nodes, and the configuration of all blockchains.

ICMF allows for cross-chain communication on the network, which can happen in an automated manner without depending on the end user to initiate events and transactions.

The team has outlined the subtasks required to complete D1 and this will be the main focus of future development for the mainnet launch.

EIF (Ethereum Interoperability Framework)

EIF is a set of functions that allow Chromia to act as a layer-2 of Ethereum and all other EVM chains such as BNB Chain, Polygon, Fantom, AVAX C-Chain… These functions include connecting assets to and go from these chains to Chromia..

Although this concept was only mentioned in May, Chromia has so far completed nearly 95% of the development target for EIF. Chromia plans to merge the source code in August and then conduct extensive testing.

Bridge Hardened Bridge (H-Bridge)

An EVM asset bridge is being built using EIF functions, allowing Chromia to connect assets to and from the EVM chains. Terms “Hardened” which means that security takes precedence over speed, requiring higher standards of validation and checkpoints before assets are delivered. Development of H-Bridge is well underway, almost 75% complete.

FT4 token standard

FT is the Chromia token standard that supports all Chromia tokens. The project has collected feedback on FT3 and is developing FT4 which improves compatibility with Metamask, the Ethereum ecosystem and other EVM chains, and security.

Notable news of the month

History of updates

About Chromia

Chromia (CHR) is a blockchain platform that combines the technology between blockchain and relational databases – databases for decentralized applications, conceived to meet the shortcomings of existing platforms and designed designed to allow 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 high throughput.

Update information about Chromia Vietnam project here: Announcement Channel | Discussion Channel

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