Chromia, a standalone Layer-1 blockchain, will officially launch its Minimum Viable Product (MVP) Mainnet on July 16. This announcement follows the launch of Chromia’s incentivized testnet, which offered a 250,000 CHR token reward pool.

With the MVP Mainnet going live, it will lay the foundation for Chromia’s network development and introduce the native token CHR. The current CHR tokens issued on the ERC-20 and BEP-20 token standards will be bridged to the MVP Mainnet, as announced by the Chromia team. Core functions integral to Chromia’s operation and security, including payment of network hosting fees and provider payouts, will also be introduced to the MVP Mainnet.

What is Chromia?

The Chromia blockchain is developed by ChromaWay AB, a Swedish blockchain company. Besides being a Layer-1 relational blockchain, Chromia also serves as an Ethereum and Binance Smart Chain compatible Layer-2 enhancement. According to Chromia co-founder Henrik Hjelte, the MVP Mainnet launch culminates a 12-year journey.

“Our journey began twelve years ago with Colored Coins, the world’s first token protocol. Following this, we launched a bank-backed stablecoin and saw 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.”

Chromia’s Technology and Benefits for dApp Developers

Chromia’s Layer-1 network leverages relational blockchain technology to change how data is structured on-chain for next-generation decentralized applications (dApps). By using a modular framework, the platform allows users and developers to perform complex on-chain calculations and searches. Users can access dedicated dApp chains for improved data handling, scalability, customizable fee structures, and digital assets.

The Layer-1 blockchain’s technology eliminates the need to rely on third-party indexing services, RPC servers, and data availability layers.

“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 the future growth and development of our network, and I’m excited to see what developers can create with our tech,” Chromia co-founder Alex Mizrahi stated.

Following the MVP Mainnet launch, Chromia will target a gradual increase in network activity, with the next phase aimed at growing the platform’s total value locked (TVL).

The CHR token price has spiked 12% in the past 24 hours, with a sharp surge on Tuesday pushing it from lows of $0.23 to $0.26.

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