Chromia was established in 2018 by blockchain pioneers Henrik Hjelte, Or Perelman, and Alex Mizrahi. Previously, they collaborated on Colored Coins, one of the initial protocols enabling user-defined assets on a blockchain, as well as Safebit, a user-friendly Bitcoin wallet. They also founded ChromaWay, a company that provides blockchain solutions across various sectors, including finance, real estate, gaming, and public services. Chromia has completed three funding rounds to date: The first round, a private sale in 2018, raised $3 million from investors such as NGC Ventures, FBG Capital, JRR Crypto, DFG Capital (Dynamic Fintech Group), OK Blockchain Capital (the investment arm of OK Group), AlphaBit Fund (ABCFund), LD Capital (LD Investments), Du Capital (DuCapital), Bitrise Capital Partners (Bitrise Capital), Chaince Capital Partners (Chaince Labs), and Waterdrip Capital Partners (Waterdrip Capital). The second round was a public sale that occurred in 2019, raising $2.5 million through KuCoin Spotlight, a platform that highlights high-quality blockchain projects. The third round was a seed round that took place in 2019, where an undisclosed amount was raised from a single investor: Binance Labs, the venture arm of Binance. In 2020, Chromia also received a strategic investment from Animoca Brands, a leading global developer and publisher of mobile games and blockchain gaming platforms.

Chromia is a blockchain platform designed to facilitate the deployment of decentralized applications (DApps) utilizing smart contracts. Several distinctive features set Chromia apart: Chromia employs a relational blockchain architecture, where each network node maintains its own relational database. This structure enhances the efficiency of storing and querying data, resulting in faster transactions, lower fees, and greater scalability compared to traditional blockchains. Instead of using a global state, Chromia adopts a local state for each DApp, simplifying the consensus process and reducing overhead. As an open-source development platform, Chromia empowers anyone to create DApps across various domains, including gaming, finance, social media, and beyond. Developers have the advantage of using familiar programming languages, such as SQL and JavaScript, to develop their DApps on Chromia. Furthermore, they can utilize Chromia’s integrated features like authentication, encryption, indexing, and querying, eliminating the need to craft complex logic or depend on external services. Chromia offers flexibility in its deployment options by supporting public, private, or hybrid blockchain models, depending on user and developer requirements. This versatility allows for increased control over DApp data and governance. Users can manage data access and validation protocols, while developers can customize fee structures and reward mechanisms for their applications. Chromia achieves extensive scalability by assigning each DApp its own blockchain, operated by a subset of network nodes. This design alleviates the burden and complexity of consensus, enabling parallel transaction processing. Additionally, Chromia can create hierarchically interconnected blockchains capable of sharing data without sacrificing security or performance. The platform can support up to 100,000 cell updates per second. For more details and updates on Chromia, visit Eulerpool.

Chromia features a native utility token, CHR, which serves multiple purposes including payment of fees, staking, governance, and accessing decentralized applications (DApps) on the Chromia platform. Holders of CHR tokens can also benefit from Chromia's growth and adoption by receiving rewards from DApp providers. Additionally, CHR is interoperable with other blockchains, such as BNB Chain and Ethereum, via bridges and sidechains. The total supply of CHR tokens is capped at 1 billion. Of this, 20% were distributed through a private sale and an Initial Exchange Offering (IEO) in 2018 and 2019, respectively. The remaining tokens are allocated as follows: 25% to a promotion fund, 20% to team members and founders with a four-year vesting period and a one-year cliff, 15% to an ecosystem fund, 10% to a reserve fund, 5% to advisors with a two-year vesting period and a six-month cliff, and 5% for automatic market making. CHR tokens are utilized for several functions: paying fees for hosting DApps on Chromia nodes, staking in order to secure the network and earn rewards, participating in governance and voting on proposals, and accessing DApps while receiving incentives from DApp providers.

Chromia is secured through a combination of cryptographic techniques, consensus mechanisms, and economic incentives. It employs public-key cryptography to guarantee that transactions are signed by their originators and verified by the recipients. Additionally, Chromia uses encryption to safeguard data against unauthorized access and tampering. Moreover, the blockchain employs Byzantine Fault Tolerance (BFT) algorithms to ensure that nodes reach a consensus on the network's state and the validity of transactions. BFT algorithms can withstand up to one-third of malicious nodes without compromising security or finality. Lastly, CHR tokens serve as a means to reward nodes for providing hosting services and securing the network.

For those interested in purchasing Chromia at the current rate, leading cryptocurrency exchanges for trading Chromia include Binance, BingX, Bybit, BTCEX, and Bitget. Additional exchanges are listed on our crypto exchanges page at Eulerpool.