Chromia is a blockchain platform that aims to develop dApps and solve the scalability problem.
What is Chromia?
Created by the Swedish company Chromaway AB, Chromia is an open source public blockchain. It consists of a network of relational blockchains. Or Perelman, Henrik Hjelte and Alex Mizrahi are the team that created Chromia. Perelman, Hjelte, and Mizrahi are highly experienced people in the crypto space. For example, Mizrahi published academic papers in the early days of formation on the Proof of Stake consensus.
Chromia is described as a blockchain that makes it easy for people to build decentralized applications in the real world. Its main purpose is to enhance existing dApps, enabling dApps to be built by offering scalability, advanced data processing and customizable rates. Chromia is considered as a platform that both meets expectations and offers innovative solutions with its future goals.
Every dApp running on it also runs on its own sidechain. This allows each application to scale much more efficiently. It is also aimed to give developers the freedom to choose between each fee structure. Chromia offers industry-competitive transaction fees and confirmation times. It allows applications to be deployed quickly. Chromia aims to encompass development opportunities for transparent financial applications and Chromia staking mechanisms, decentralized gaming and decentralized on-chain social networking applications.
What is CHR Coin?
Chromia’s native cryptocurrency is CHR Coin. With many functions, CHR Coin is a utility token designed to create beneficial incentives for all participants on the platform. Launched in 2019, CHR Coin is defined as Chromia’s native utility token. Users with CHR tokens can use it within dApps. dApps pay transaction fees to block manufacturers using the CHR token.
Chromia allows dApps to issue CHR supported tokens. Also, investors of dApp projects can be compensated in CHR through a profit sharing agreement. CHR Coin provides an opportunity for developers to earn more income. Current applications of dApps on Chromia include finance, gaming, real estate and healthcare.
In the future, Chromia aims to focus on dApps including supply chain, enterprise services and IoT (Internet of Things). In addition to gas fees and node rewards, CHR Coin is also used as a medium of exchange on Chromia. Also, CHR tokens can be registered as a backup for dApps to peg to their own tokens. CHR Coin is also used for staking. Besides these, there are several different Chromia token accounts across the network that offer exclusive deals and discounts to their holders.
How Chromia Works
Chromia differs from other chains in many ways. The system, which acts as layer-1 and layer-2, has a unique structure called the relational blockchain. In addition, it has many other technically distinctive features. Its basic technical features, which also provide advantages for the project, are also an important factor in meeting expectations. Chromia is able to develop a standalone Layer-1 Blockchain and EVM compatible Layer-2 for Binance Smart Chain and Ethereum.
It has emerged to enhance existing dApps and create next generation dApps by providing scalability, advanced data processing and customizable fee structures. Chromia, the layer-1 blockchain, operates as a standalone and fully programmable blockchain. With Chromia, developers can create other networks. It is designed to support the latest DeFi and enterprise-grade applications. Chromia basically works as a lightweight software layer that handles computations on the Ethereum mainnet. It can also be used to accelerate voting and consensus.
How and Where to Buy CHR Coin?
CHR Coin is listed on many different platforms. As an example of these; Cryptocurrency exchanges such as Binance, Bybit, BTCEX, Bitget can be given. Investors who want to buy CHR Coin must first become a member of the platform they prefer. After membership procedures, an account must be created and identity verified. After entering the information completely, the desired amount of CHR Coins can be purchased on the trading page. Purchased CHR Coins can be used in transactions or stored in secure wallets.
