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Chromia’s MVP mainnet to launch on July 16

Chromia’s MVP mainnet to launch on July 16

Chromia, a Layer-1 relational blockchain platform, has announced its MVP mainnet will launch on July 16, as per the latest updates shared with Finbold on July 2.

The launch will lay the groundwork for Chromia’s broader ecosystem and introduce its native CHR cryptocurrency token.

Chromia’s MVP mainnet

The new mainnet will enable the bridging of the current CHR token, which exists as an ERC-20 token on Ethereum (ETH) and a BEP-20 token on the Binance BNB Chain, to Chromia’s own blockchain.

This transition will activate essential functions of the CHR token, including the payment of network hosting fees and provider payouts handled exclusively on the MVP Mainnet.

Henrik Hjelte, Chromia Co-Founder, shared his excitement in regard to the launch, stating: 

“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. After years of development, we are thrilled to see the concept of relational blockchain become a reality.”

Co-founder Alex Mizrahi, in turn, expressed his hope for the future growth and development of the platform, stating: 

“Chromia 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. This launch sets the stage for the future growth and development of our network, and I’m excited to see what developers can create with our tech.”

Relational blockchain technology and the road ahead

Developed by ChromaWay, relational blockchain technology facilitates complex searches and calculations directly on the blockchain, eliminating the need for third-party indexing, data availability layers, and RPC servers.

Developers can lease resource containers and create their own revenue streams to enable new Web3 business models, ensuring a streamlined user experience while adhering to the permissionless and decentralized principles of blockchain. 

With mainnet launch, Chromia will gradually increase network activity, boostiong its total value locked (TVL) as ecosystem projects deploy dApps and additional assets become bridgeable.

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