The platform revealed two major initiatives to shape its future. It announced a $20 million fund for data and AI projects and the upcoming Asgard Mainnet Upgrade.
Chromia is solidifying its role in data-centric areas like AI while supporting gaming and other industries. Read on to get the details of this announcement.
A $20M Fund to Boost AI and Data Projects
The $20 million Data and AI Ecosystem Fund is a big part of Chromia’s plan to grow its platform. This fund will help support projects dealing with large amounts of data and using AI. Chromia believes that any project with lots of data needs tools to clean and automate that data. And that is where AI comes in.
Heard about our massive announcements?
– $20M Data and AI Fund
– Asgard Upgrade
– Chromia ExtensionsCheck out the blog for details on what this means for #Chromia and why it’s a game-changer for Web2, Web3, and the ecosystem!
🔗 https://t.co/APfUp2qxxe pic.twitter.com/iWZgkbvrF8
— Chromia | Power to the Public (@Chromia) September 18, 2024
Yeou Jie oversees Chromia’s business development. Jie started working with Chromia in 2024 after working with DeFiance Capital, a leading firm in blockchain investment. He said, ‘Any project managing large amounts of data has to clean and transform that data, which leads to AI use. Chromia is perfect for developers who create real-time projects with the high working capacity to process large datasets.”
The ‘Asgard’ Mainnet Upgrade
The Asgard Mainnet release will take place in Q4 2024. Together with new functional features and utilities, it will enhance Chromia’s performance. Among the novelties of the update, it is worth highlighting the inclusion of “Extensions.” Extensions are chains that may add new capabilities to Chromia’s platform.
This allows Chromia’s dApps and projects on other blockchains to use these new capabilities. The suggested Extensions include:
- A system to bring outside information onto the blockchain AI model processing to help analyze big data sets.
- Tools to ensure data is available and private using zero-knowledge proofs.
Chromia makes it possible for developers to create robust applications through its features.
The Asgard Upgrade brings new capabilities to #Chromia 👀
Including the Extension Project, which provides plug-and-play capabilities for developers to access:
– Oracles
– Computation for AI Inference
– Support for data availability and #ZKPsChromia can be the data layer for… pic.twitter.com/WwfHjSd2dQ
— Chromia | Power to the Public (@Chromia) September 18, 2024
A Platform for Data and AI
Chromia knows how to handle and process large amounts of data. It launched its mainnet earlier this year. It also employs a specific relational database configuration setting. With this, Chromia handles immense volumes of related data and works fine with dApps as a data layer for projects on other blockchains. Chromia’s relational database structure sets it apart from other Layer 1 blockchains.
It puts data first, making it a good choice for developers creating AI-driven answers. It already backs popular games like My Neighbor Alice and Mines of Dalarnia. With the $20M Fund, Chromia is entering new industries. It will also make developers work better with big data, expanding their reach to AI.
What’s Next for Chromia?
Chromia is preparing for Web3’s future by backing projects that need lots of data. It is also rolling out new features through the ‘Asgard’ Mainnet Upgrade. Henrik Hjelte, who helped start Chromia, talked about why this matters. “When we support AI and other solutions focusing on data, we also unlock Chromia to work with even more partners.”
As Chromia grows, the blockchain world will observe its development. It has positioned itself for data, AI, and gaming and is becoming a significant player in the Web3 sector. It appeals to developers and businesses seeking to work with large datasets or AI.
I’m proud to have just announced huge milestones for #Chromia
– $20M for the Data and AI Fund led by Head of BD @YeouJie
– The Asgard Upgrade brings powerful options for builders, including their own Oracles, data availability, and #ZK rollups.
Chromia is a db+blockchain+more
— Henrik Hjelte (@hankhero) September 18, 2024
Conclusion
Chromia is ready to introduce innovations. The $20 million fund for data and AI projects and the upcoming Asgard Mainnet Upgrade are only the beginning. These initiatives will help attract new developers and projects to Chromia.
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