{"id":83306,"date":"2024-07-02T17:08:04","date_gmt":"2024-07-02T21:08:04","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83306"},"modified":"2024-07-02T17:09:00","modified_gmt":"2024-07-02T21:09:00","slug":"chromia-to-launch-its-mvp-mainnet-on-july-16th","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chromia-to-launch-its-mvp-mainnet-on-july-16th\/","title":{"rendered":"Chromia to Launch its MVP Mainnet on July 16th"},"content":{"rendered":"\n

On July 16, Chromia, an independent Layer-1 blockchain<\/a>, will open for business on its Minimum Viable Product (MVP) Mainnet.<\/p>\n\n\n\n

\"Chromia
Chromia to Launch its MVP Mainnet on July 16th<\/figcaption><\/figure>\n\n\n\n

The announcement comes after Chromia launched its incentive-based testnet with a prize pool of 250,000 CHR tokens. The MVP Mainnet's launch will establish the framework for Chromia's network growth and present the native token<\/a>, CHR. <\/p>\n\n\n\n

The Chromia team declared that the existing CHR coins issued according to the ERC-20 and BEP-20 token standards are bridged to the MVP Mainnet. <\/p>\n\n\n\n

Essential operations for Chromia's security and operation, such as provider payouts and network hosting fees, will also be transferred to the MVP Mainnet. <\/p>\n\n\n\n

The Swedish blockchain startup ChromaWay AB is creating the Chromia blockchain. Chromia is an L1 relational blockchain and an L2 improvement for Ethereum and Binance Smart Chain compatible with Ethereum Virtual Machines\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. Henrik Hjelte, a co-founder of Chromia, claims that the MVP Mainnet launch is the end of a 12-year quest.\u00a0<\/p>\n\n\n\n

\n

“Our journey began twelve years ago with Colored Coins, the world's first token protocol. Following this, we launched a bank-backed stablecoin and recognized the potential of integrating relational databases with blockchain, inspiring the creation of Chromia. After years of development, we are thrilled to see the concept of relational blockchain become a reality.”<\/p>\n<\/blockquote>\n\n\n\n

How\u00a0Chromia's Technology Benefits dApp Developers<\/h2>\n\n\n\n

Chromia's L1 network fundamentally alters the on-chain data structure for next-generation decentralized applications <\/a>(dApps). The platform's modular architecture enables users and developers to conduct intricate on-chain searches and calculations. <\/p>\n\n\n\n

To enhance data processing, scalability, and the flexibility to customize charge structures and digital assets, users can access specialized dApp chains. The technology of the L1 blockchain helps eliminate the requirement for data availability tiers, RPC servers, and third-party indexing services.\u00a0<\/p>\n\n\n\n

“Chromia combines blockchain architecture with ideas from cloud computing and database theory to provide a full spectrum of tools needed to deliver an amazing end-user experience. This launch sets the stage for our network's future growth and development, and I'm excited to see what developers can create with our tech,” Chromia co-founder Alex Mizrahi said in a statement.<\/p>\n\n\n\n

Chromia plans to gradually increase network activity following the MVP Mainnet launch; this subsequent phase will also increase the platform's total value locked<\/a> (TVL). The price of the CHR token has increased by 12% in the last day, rising from lows of $0.23 to $0.26 on Tuesday due to a strong surge.<\/p>\n","protected":false},"excerpt":{"rendered":"

On July 16, Chromia, an independent Layer-1 blockchain, will open for business on its Minimum Viable Product (MVP) Mainnet. The announcement comes after Chromia launched its incentive-based testnet with a prize pool of 250,000 CHR tokens. The MVP Mainnet’s launch will establish the framework for Chromia’s network growth and present the native token, CHR. The […]<\/p>\n","protected":false},"author":43,"featured_media":83307,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17462,5539,20348],"class_list":["post-83306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-chromia","tag-dapp","tag-mvp-mainnet"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/croc_1719952713971.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83306"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/83307"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}