Overview of the CHR cryptocurrency and the Chromia . project

• What is Project Chromia?
• What you need to know about CHR . cryptocurrency
• Conclude

Learn about Chromia - one of the ecosystems with many outstanding advantages and an overview of the CHR cryptocurrency - the token operating in this project.

What is Project Chromia?

Chromia concept

Chromia is a platform that combines Blockchain technology and relational databases. Chromia was conceived to fulfill the shortcomings of existing platforms and is designed to enable a new generation of dApps to expand beyond existing capabilities.

Chromia project development team

Chromia is developed by the founding team of Chromaway, has been in operation since 2014 and has several successful projects in the market. The most typical names in Core Team include:

CEO Henrik Hjelte: Henrik has experience in developing Blockchain related solutions. In 2012, he created Colored Coins – a revolutionary project that allows users to treat Bitcoin as a payment method, which can be exchanged for other assets in the form of tokens.

Or Perelman Operations Manager n: Or Perelman has extensive Blockchain experience. In 2011, he invented Safebit – a storage wallet and platform for Crypto assets. He is also the co-founder of Colored Coins and the Chief Marketing Officer of the Crypto BitBlu app.

Chief Technology Officer Alex Mizrah i: Alex Mizrahi has many years of experience as a developer. From 2000 to 2012, Alex was a software developer on many 3D graphics and mobile application projects. In 2012, he joined Henrik and Or to develop Colored. He is also a co-founder of Chromaway and works here as chief technology officer.

Chief Engineer Jorgen Modin : He is currently a partner of Webworks Sverige AB, with 20 years of experience in Internet software solutions.

Technical Director August Botsford : August Botsford has expertise in information security, he obtained his PhD in 2017.

Chromia project development team.

The development process of the Chromia project

Chromia's predecessor was Chromapolis. Prior to the launch of the Public Blockchain, the project changed its name to Chromia.

Private sale was conducted from May 1 to August 20, 2018 for 0.05 USD/CHR.

Public sale was conducted on May 28, 2019 through KuCoin for 0.05 USD/CHR.

At the end of May 2019, CHR was sold IEO on Kucoin Spotlight.

In 2020, Chromia was honored by Deloitte as the fastest growing technology company in Sweden.

By the end of 2020, Chromia has completed the process of allocating CHR tokens, as well as conducting listing on major exchanges.

Although 2020 has been a successful year for Chromia, the project has disappointed the community by delaying the mainnet appointment to 2021.

Currently, the project is focusing on community development in China, Korea, the US and Europe.

Chromia's mechanism of action

The difference of CHR when compared to other dApps platforms is that there is a new fee structure. CHR is the utility token of the Chromia platform (CHR). Users will use CHR tokens in the dApp. The dApp is responsible for paying transaction fees to block producers using CHR tokens. dApp project investors can also be compensated in CHR through a profit sharing contract. For developers, Chromia provides an opportunity to earn extra income from their dApps. DApps currently working on Chromia are mostly related to finance, entertainment, real estate and healthcare industries. In the future, Chromia will likely focus on applications related to supply chain and enterprise services.

Outstanding features of the Chromia project

Practical Byzantine Fault Tolerance . consensus algorithm

The Chromia platform uses the Practical Byzantine Fault Tolerance (PBFT) consensus algorithm that allows the transaction speed to be shortened to just 1 second. This greatly improves the transaction speed compared to the old platforms.

Practical Byzantine Fault Tolerance consensus algorithm.

High scalability

Each dApps has its own Blockchain (Side Chain). This makes transactions per dApps faster, up to 500 TPS. Thus, the overall speed of the system (including many dApps running at the same time) is unlimited.

High scalability.

Transaction fee

Chromia (CHR) does not collect transaction fees directly, but fees are collected by dApps.

Chromia (CHR) does not charge transaction fees directly.

Indexing and rich queries

dApps can quickly pull needed information directly from the nodes running the application and execute complex queries without serious performance degradation.

Rich indexing and querying.

Pros and cons of project Chromia

Advantage

• The project has low transaction fees because Chromia does not collect transaction fees directly, but fees will be collected by dApps.
• The interface of the ecosystem is very user-friendly, even newbies can learn how to use it in a short time.
• The scalability of the ecosystem is greatly improved as each dApp has its own Blockchain.

Defect

• The project has not kept up with the schedule we have set out before.

What you need to know about CHR . cryptocurrency

Functions of the CHR . cryptocurrency

The CHR cryptocurrency performs the following main functions: 

• The dApps pay for the use of system resources.
• Switch resources between dApps.
• Liquidity automatically converts smart contracts and shares profits.
• Provides a mechanism for nodes that confirm deposits to participate in the public network.

Allocate CHR Token

CHR Tokens are distributed according to the following ratio:

• Private Sale: 19.40%.
• IEO Sale: 4.00%.
• Team: 2.98%.
• Founder: 4.50%.
• Advisors: 1.92%.
• Promotion Fund: 25.00%.
• Ecosystem Fund: 37.20%.
• Automatic Conversion Contract: 3.00%.
• Compensation Pool: 2.00%.

Allocate CHR Tokens.

CHR . Cryptocurrency Basics

• Price: 0.1856 USD (price at the time of writing June 10, 2021).
• Market capitalization: 78.3 million USD.
• Total supply: 1 billion.
• CoinMarketCap ranking position: 364.

CHR . Cryptocurrency User Guide

Instructions to earn CHR tokens

There are 3 popular ways to earn CHR tokens:

• Buy CHR on supported exchanges.
• Participating in project investment in the Chromia ecosystem.
• Staking.

Instructions for storing CHR tokens

Since this is an ERC-20 token, it is fairly easy for anyone to find a safe and widely used wallet. The list that TraderH4 mentions includes:

• Ledger Nano X, Ledger Nano S, Trezor cold wallets: Top safe coin storage wallets.
• Trust Wallet : Wallet is officially supported by Binance, popular and widely used. App available on Android and iOS
• Atomic Wallet: Also available on Android and iOS.
• MyEtherWallet : Store directly on the ethereum blockchain without having to download any apps.
• And finally you can keep them online on Binance, Kucoin, Huobi exchanges where you bought CHR.

Exchanges that support trading with CHR tokens

Currently, CHR token is supported for trading on a number of major exchanges such as: Binance , Bilaxy, CoinDCX, KuCoin, Bithumb, Hotbit, ...

Conclude

Chromia offers an approach to dApps development that addresses the problems of current Blockchain systems such as high transaction fees or poor user experience. The upcoming CHR will focus on dApps serving the supply chain or enterprise services.

It should also be added that Chromia is competing with many competitors (including the big IBM). The success of the project depends on the speed at which new features are released and also on the quality of the product and the support from investors. Join TraderH4 to look forward to the development of CHR cryptocurrency and the Chromia project in the future!

Note: This article is for informational purposes only about Chromia (CHR) and should not be considered investment advice. Cryptocurrency investment is a form of risky investment, you only participate with the amount of capital that can be lost.