Chromia is a modular, relational blockchain platform that aims to make it easy for people to build decentralized applications (DApps). It was founded by ChromaWay, a company that has been working on blockchain solutions since 2014 for various sectors such as finance, real estate, gaming and public services. ChromaWay is also known for creating colored coins, which are user-defined assets on a blockchain that can represent anything from currencies to stocks to collectibles.
Chromia’s vision is to enable a new generation of DApps that can scale beyond what is currently possible and address real-world problems in various domains such as gaming, social media, finance, healthcare, education, governance, and more.
Some examples of DApps on Chromia include: My Neighbor Alice (ALICE), a multiplayer blockchain game; LAC PropertyChain, a land registry system; Green Assets Wallet, a platform for green bond verification; Hedget (HGET), a decentralized options protocol; Corite (CO), a music streaming service; Chain of Alliance (COA), a strategy game; Vault12, a digital asset custody solution; Domenation, a blockchain gaming project.
## Who Are the Founders of Chromia?
Chromia was founded in 2018 by three blockchain pioneers: Henrik Hjelte, Or Perelman and Alex Mizrahi. They had previously worked together on Colored Coins, one of the first protocols to enable user-defined assets on a blockchain, and Safebit, a user-friendly Bitcoin wallet. They also founded ChromaWay, a company that provides blockchain solutions for various sectors such as finance, real estate, gaming and public services.
Chromia has raised three funding rounds so far:
The first round was a private sale that took place in 2018 and raised $3 million from NGC Ventures, FBG Capital, JRR Crypto, DFG Capital (Dynamic Fintech Group), OK Blockchain Capital (OK Group’s investment arm), AlphaBit Fund (ABCFund), LD Capital (LD Investments), Du Capital (DuCapital), Bitrise Capital Partners (Bitrise Capital), Chaince Capital Partners (Chaince Labs), Waterdrip Capital Partners (Waterdrip Capital).
The second round was a public sale that took place in 2019 and raised $2.5 million from KuCoin Spotlight, a platform that showcases high-quality blockchain projects.
The third round was a seed round that took place in 2019 and raised an undisclosed amount from one investor: Binance Labs, the venture arm of Binance.
In addition to these rounds, Chromia also received a strategic investment from Animoca Brands, a leading global developer and publisher of mobile games and blockchain gaming platforms, in 2020.
## What Makes Chromia Unique?
Chromia is a blockchain platform that supports the deployment of decentralized applications using smart contracts. Some of the features that make Chromia unique are the following:
It uses a relational blockchain architecture, which means that each node in the network has its own relational database that can store and query data efficiently. This allows for faster transactions, lower fees, and more scalability than traditional blockchains. Unlike other blockchains that use a global state, Chromia uses a local state for each DApp, which reduces the complexity and overhead of consensus.
It is an open-source development landscape that enables anyone to create DApps for various use cases, such as gaming, finance, social media, and others. Developers can use familiar languages like SQL and JavaScript to code their DApps on Chromia. They can also leverage Chromia’s built-in features such as authentication, encryption, indexing, querying, etc., without having to write complex logic or rely on third-party services.
It can be used as a public, private, or hybrid model blockchain, depending on the needs of the users and developers. This gives more flexibility and control over the data and governance of the DApps. Users can choose who can access their data and how it is validated. Developers can also customize their fee structures and reward mechanisms for their DApps.
It supports massive scalability by allowing each DApp to have its own blockchain that runs on a subset of nodes in the network. This reduces the load and complexity of consensus and enables parallel processing of transactions. Chromia can also create hierarchically interconnected blockchains that can share data without compromising security or performance. Chromia can handle up to 100,000 cell updates per second.
How to Buy CHR on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing CHR. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing CHR.
Step 5: Purchase CHR
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of CHR you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy CHR.
Step 6: Store Your CHR
After purchasing, you can choose to store your CHR in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and CHR assets, be sure to use a strong password and enable two-factor authentication.
CHR Price:Chromia is a modular, relational blockchain platform that aims to make it easy for people to build decentralized applications (DApps). It was founded by ChromaWay, a company that has been working on blockchain solutions since 2014 for various sectors such as finance, real estate, gaming and public services. The price fluctuates daily, and as of first half of 2024, the highest price for CHR was $1.50.
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