Along with Chromia adding KuCoin as a provider for the Chromia network, KuCoin also announced the development on their micro-blogging site on the same day.
Chromia tweeted on July 3rd:
“We are excited to welcome @KuCoincom as a provider for the #Chromia network! Hot on the heels of @NGC_Ventures StakeX division, we are very happy to announce that KuCoin will be joining our initial set of Chromia providers!$CHR #exchange #KuCoin #cryptocurrency #blockchain”
Chromia is a public relational blockchain platform that is created to enable the next generation of decentralized applications to scale seamlessly beyond what’s currently available. The brainchild of ChromaWay, Chromia, is powered by Rell and built considering both the end-users and developers.
First blockchain entrance for KuCoin
Chromia mentioned that KuCoin will be a part of the bootstrap mainnet of Chromia. This means that KuCoin will be seen contributing to dApp hosting, network security, along with block production. Interestingly, this is actually the first time KuCoin will be entering the blockchain hosting space.
The bootstrap mainnet aims to onboard providers gradually while providing a solid foundation for network development in the long term. The mainnet will form the basis of Chromia’s inherent token system. The tokens will also be registered and attributed to users, although end-users won’t be able to access them. There will also be room to transfer tokens that are issued on this bootstrap mainnet to ERC-20, Chromia added. The transfers will be carried out through the Chromia operated gateway. The prime purpose of these bootstrap tokens entails providing remunerations and refining Chromia’s economic incentive models.