What is Chromia (CHR)? Everything you need to know about CHR Token

In this article, we would like to introduce Chromia known as a relational blockchain platform. We'll be covering the following topics:

• What is Chromia? How does Chromia work?
• CHR Tokenomics and How/Where to earn and store CHR tokens?
• Roadmap & Updates.
• Team members, Investors, and Strategic Partners.

Let's explore the potential of CHR!

What is Chromia?

Chromia is a blockchain platform, making it easy for people to build decentralized apps in the real world. Chromia was formerly known as Chromapolis. Chromia's vision to become a blockchain platform that offers more advantages than Ethereum:

• Allow dApps (Decentralized Applications) to scale to millions of users.
• Improve the user experience of dApps to achieve parity with centralized applications.
• Allow developers to build secure applications using familiar paradigms.

How does Chromia work?

Relational blockchain geared for the real world

Chromia integrates with Postchain Framework (ChromaWay) to combine with SQL Database. The Postchain framework on which Chromia is based allows us to use existing open-source SQL database software to implement data store and query capabilities.

A new language called Rell (Relational language) will be used for dApps programming of Chromia. This language allows programmers to describe the data model, schema, queries, and procedural application code.

By definition, a blockchain is an immutable ledger that all network participants agree on and in which all transactions are recorded. These blockchains can grow to be rather large, and getting data from them can be sluggish, expensive, and inefficient.

Websites and users could save, update, remove, and access the exact piece of data they needed almost instantly with relational databases.

As a result, a Blockchain platform with the following functionalities has been created:

• Transactions can be completed in less than a second thanks to the high transaction speed.
• Each dApp has its own Blockchain, making it highly scalable (side chain). This allows for incredibly rapid transactions per dApp, up to 500 TPS (transaction per second).
• Low transaction fees: Chromia does not collect transaction fees directly; instead, dApps are responsible for collecting fees.

Chromia Spaces

Chromia Spaces is a multiplayer blockchain and NFT enabled persistent game world.

As the blockchain gaming industry has grown, it has become clear that virtual language, open marketplaces, and cross-promotion with other companies and products are in high demand. Chromia Spaces is ideally equipped to dynamically and excitingly meet all of these criteria.

Chromia Spaces serve use cases of multiple users in GameFi and Metaverse, for example, players, content creators, brands, influencers, crypto projects, etc.

Spaces will benefit from all of the following:

• Enhanced NFT functionality via the Chromia Originals NFT standard.
• Scalability.
• Bridged assets.
• Seamless backend integration of blockchain.
• Proof of concept for HQ front-end graphics with a blockchain backend.
• Flexible network fee structure.
• Advanced data handling and storage via relational blockchain.

What is the CHR token?

Chroma (CHR) is the native token designed to empower the Chromia platform.

CHR Key Metrics 

• Ticker: CHR.
• Blockchain: Ethereum.
• Token Standard: ERC20, BEP20.
• Contract - ERC20: 0x8a2279d4a90b6fe1c4b30fa660cc9f926797baa2.
• Contract - BEP20: 0xf9cec8d50f6c8ad3fb6dccec577e05aa32b224fe.
• Token type: Utility Token.
• Total Supply: 1,000,000,000 CHR.
• Circulating Supply: 567,369,439 CHR (56,74% of total supply).

CHR Token Allocation

• Ecosystem Fund: 38.06% (380,600,000 CHR).
• Promotional Fund: 25% (250,000,000 CHR).
• Private Sale: 17.94% (179,400,000 CHR).
• Founders: 4.5% (45,000,000 CHR).
• IEO: 4% (40,000,000 CHR).
• Auto Conversion Contract: 3% (30,000,000 CHR).
• Advisors: 3% (30,000,000 CHR).
• Team: 2.5% (25,000,000 CHR).
• System Node: 2% (2,000,000 CHR).

CHR Token Release Schedule

CHR Token Sales

Private Sale:

• Time: May 1st to August 20th, 2018. 
• Price: $0.05 per CHR. 
• Total raised: $9.7 million. 

IEO Sale:

• Time: May 28th, 2019 via KuCoin.
• Price: $0.05 per CHR.
• Total raised: $2 million. 

CHR Token Use Cases

• Act as platform currency: CHR is used as a “standard” currency within the Chromia economy.
• Payment of hosting fees: CHR is used by dApps to pay hosting fees, thus compensating the nodes.
• Ecosystem staking: CHR is used to make sure that providers have a stake in the Chromia ecosystem thus offsetting incentives to collude.

How to get CHR Token

You can get CHR by staking CHR coin, then get CHR as a reward for the contributions.

How to buy CHR Token 

You can buy CHR on listed exchanges such as: 

• DEX: PancakeSwap,... 
• CEX: Binance, Gate.io,... 

Alternatively, you can use Coin98 Exchange to swap other tokens for CHR by clicking the Swap button at the end of the article.

Learn more: How to use Coin98 Exchange 

How to store CHR Token

You can store CHR on Coin98 Wallet with these steps:

Step 1: Open Coin98 Wallet & click Search Icon on the home screen.

Step 2: Search CHR Token.

Step 3: Click on the correct result at Receive Tab with a specific chain (BEP20/ERC20), copy the wallet address and send CHR to this address.

CHR Roadmap

Done:

• Consensus system.
• Rell 0.7: the first Rell runtime with full interpreter.
• FT3 & SSO.
• Blockchain dependencies.
• Postchain managed mode.
• Vault.
• Explorer.
• Block hooks.

Planning:

• Ethereum L2 base subsystem.
• Containerized resource management for dapps.
• Cross-chain communication subsystem.
• Ephemeral dependencies.
• Dev chain launcher.

Team, Investors, and Partners

Team 

Henrik Hjelte (CEO): Founder of stix.to, former Consultant at Kambi Sports Solutions, Senior Consultant at VPD Financial Software Consulting. 

Or Perelman (COO): Co-founder of Coloredcoins and Safebit Bitcoin, former CMO at bitBlue.

Alex Mizrakhi (CT0): Founder of we-tag.info, former Software Developer at LapBack and stix.to.

Investors

Chromia has made one investment. Their most recent investment was on October 18th, 2021, when raised $1.7 million.

Partners

Chromia launched an $80 million Metaverse Grant Program in cooperation with My Neighbor Alice and Mines of Dalarnia in November 2021.

Is Chromia (CHR) a good investment?

There are three reasons why I believe Chromia is a good investment:

• The plans they have laid out in the past have all been well-executed, and Chromia's roadmap seems very promising for the future.
• Layer 1 of the blockchain is an array that will continue to expand in the future. I'm confident in saying that “you're still early”. 
• Finance, gaming, real estate, and healthcare are among the current dApps on Chromia. For example, Mines of Dalarnia, My Neighbor Alice (GameFi), CapChap, Lingon (Enterprise), Hedget (DeFi). Chromia will also focus on supply chain, enterprise services, and IoT dApps in the future.

However, when it comes to jumping on the latest trend or trendy cryptocurrency, caution is always advised, especially with CHR that has already risen by almost 30,000% in 2021. You have to consider how much more it can really grow, as well as how much the price has been inflated by speculation.

But generally, I recommend instead of “investing much in crypto,” invest your time in gaining knowledge in the domain to distinguish great tech from crap. This is the best investment, which I believe will make you rich and prosperous.

Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.

Similar Projects

Casper (CSPR): A Layer-1 Proof-of-Stake (PoS) blockchain that is built for real-world applications without sacrificing usability, decentralization, security, or scalability. 

Solana (SOL): A third-gen blockchain platform that is specifically designed for decentralized applications (Dapps) such as DeFi or NFT projects. The Solana blockchain is an open-source project that uses Proof-of-History (PoH) consensus.

Near Protocol (NEAR): A blockchain platform allowing developers and entrepreneurs to build applications and secure high-value assets such as money or identity, etc. while making them friendly and usable enough for consumers to access.

Conclusion

So I have provided you with the latest information from Chromia. If you're interested in other Blockchain Platforms besides Chromia, please leave a comment below. Coin98 will research the projects and publish articles about them.

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