Chromia Set to Unveil MVP Mainnet on July 16
Chromia, an independent Layer-1 blockchain, is set to launch its Minimum Viable Product (MVP) Mainnet on July 16. This announcement follows Chromia’s recent release of an incentivized testnet featuring a 250,000 CHR token reward pool.
The MVP Mainnet’s launch signifies a pivotal moment in Chromia’s network development, introducing its native token CHR. Currently, CHR tokens issued on ERC-20 and BEP-20 standards will transition to the MVP Mainnet, as confirmed by the Chromia team.
Core functionalities essential to Chromia’s operations and security, such as network hosting fee payments and provider payouts, will also debut on the MVP Mainnet.
Chromia, developed by ChromaWay AB, a Swedish blockchain company, is distinguished as a Layer-1 relational blockchain. Additionally, it serves as an EVM-compatible Layer-2 enhancement for Ethereum and Binance Smart Chain.
Henrik Hjelte, co-founder of Chromia, describes the MVP Mainnet launch as the culmination of a 12-year journey that began with Colored Coins, the world’s first token protocol. The evolution included the launch of a bank-backed stablecoin and the integration of relational databases with blockchain, leading to the inception of Chromia.
Chromia’s L1 network utilizes relational blockchain technology to revolutionize on-chain data structuring for next-generation decentralized applications (dApps). Through its modular framework, Chromia empowers users and developers to perform complex on-chain computations and searches. Dedicated dApp chains enhance data management, scalability, and customizable fee structures for digital assets, eliminating reliance on third-party indexing services, RPC servers, and data availability layers.
Alex Mizrahi, another Chromia co-founder, emphasized the integration of blockchain architecture with concepts from cloud computing and database theory to deliver comprehensive tools for an exceptional end-user experience. The MVP Mainnet launch is expected to catalyze further network growth and development, fostering creativity among developers.
Post-MVP Mainnet launch, Chromia anticipates increased network activity and aims to expand its total value locked (TVL). Over the past 24 hours, the CHR token has surged by 12%, driven notably on Tuesday by a rise from $0.23 to $0.26.
