Chromia to Launch MVP Mainnet on July 16th

The mainnet is a foundation for further advancing the Chromia network.

This launch from Chromia will outline some features of Chromia and establish the potential for other developments. Now, let’s know more about the MVP Mainnet.

What is the MVP Mainnet?

The MVP Mainnet is the Minimum Viable Product Mainnet. It is the first functional version of the Chromia network. It will establish the core operations of Chromia and mark the beginning of the native $CHR token.

The $CHR token currently exists as an ERC-20 token on Ethereum and a BEP-20 token on BNB Chain. The launch of the MVP Mainnet will lead to the bridging of $CHR tokens into the new network.

Source: X
Functions of the MVP Mainnet

The MVP Mainnet will ensure a smooth network and compensation for network participants. Chromia’s MVP mainnet will perform these operations and functions. You can see more about it here.

Henrik Hjelte, the CEO of Chromia, shares the path that has brought the project to this point: “It has been twelve years since our start with Colored Coins. Following this, we launched a bank-backed stablecoin. We also recognized the potential of integrating relational databases with blockchain. All this inspired the creation of Chromia. After many years, we will see the concept of relational blockchain become a reality.”

Here is the latest updates from Chromia:

Source: X
What Makes Chromia Unique?

Chromia combines blockchain architecture with cloud computing and a database system. This combination makes it more user-centric.

Alex Mizrahi, another Chromia co-founder, also said, “Chromia utilizes blockchain and cloud computing. It also combines the theory of databases to offer tools for the end-user experience. The launch represents the foundation for Chromia’s network to expand and grow. I am looking forward to seeing what developers are capable of with Chromia’s technology.”

Source: X
The Benefits of Relational Blockchain

ChromaWay created a relational blockchain, a versatile sort of blockchain. So, this feature alters data storage on the blockchain. It optimizes search and on-chain computations. It does not need third-party indexing, data availability layers, or RPC servers.

Chromia also disrupts the familiar blockchain economic model. It offers a way for developers to rent out resource containers and build their revenues. This takes the load off end users and drives new Web3 business opportunities. In turn, Chromia becomes more accessible for the average consumer. It continues to maintain the permissionless and decentralized characteristics of the blockchain. For example, users can begin engaging with decentralized apps (dapps) without possessing cryptocurrency.

Source: X
What’s Next for Chromia?

With the MVP Mainnet in place, Chromia’s network activity will increase. It will lead to Total Value Locked (TVL) growth as ecosystem projects deploy dapps. More assets will be bridgeable from Ethereum Virtual Machine (EVM) chains to Chromia.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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