The MVP Mainnet launch for Chromia has been announced. Its relational blockchain network is scheduled to go live on July 16.
In addition to marking the genesis of the native CHR token, the MVP Mainnet will provide the groundwork for the Chromia network. With its introduction, the MVP Mainnet will be able to bridge the existing CHR token, which has been released as BEP-20 on BNB Chain and ERC-20 on Ethereum.
The MVP Mainnet will launch CHR’s essential core functions that are necessary for the network’s security and functioning as soon as it goes live. These consist of provider payments and network hosting fees, which will exclusively be processed via Chromia’s MVP Mainnet.
Chromia co-founder Henrik Hjelte said:
“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.”
Chromia co-founder Alex Mizrahi said:
“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.”
Relational blockchain technology, created by ChromaWay, radically alters the way data is organized on-chain, simplifying intricate searches and on-chain computations. Additionally, it does away with the need for RPC servers, data availability layers, and third-party indexing services.
Chromia sets itself apart from other platforms by rethinking the principles of conventional blockchain economics. By allowing developers to “lease” resource containers, they may generate revenue on their own and reduce barriers to entry for end users, opening up new commercial opportunities for Web3.
As a consequence, the blockchain preserves its permissionless and decentralized characteristics while providing a more efficient user experience. For instance, consumers without any cryptocurrencies may begin engaging with dapps.
Chromia will gradually notice an upsurge in network activity as the MVP Mainnet establishes the core network functions. As ecosystem initiatives roll out dapps and more assets become bridgeable from EVM chains to Chromia, this will help to increase the TVL.