Chromia

Chromia

CHR
$0.306209427%0.63

Key Metrics

Price$0.306209427
Real Volume (24H)$8,776,288.41
Marketcap$248,775,084.48
Fully Diluted Valuation$100,000,000
ATH$1.49
ATH Date11/20/2021, 12:59:59 PM
ATL$0.00874003
ATL Date3/13/2020, 5:25:03 AM
Circulating Supply562M
Total Supply562M
WebsiteN/A
WhitepaperN/A
Popularity Rank249
Chart
What is Chromia?

Chromia (CHR) is a blockchain platform that aims to facilitate the creation of decentralized applications (dapps). According to the company's whitepaper, Chromia is designed to overcome the shortcomings of other existing platforms and enable dapps to work beyond what is currently possible. Chromia is a rebranding of Chromopolis, and the company claims that other platforms only allow for the creation of dapps in theory, but in practice, developers face many problems and hindrances when building dapps. These issues include poor user experience, high fees, poor developer experience, and poor security.

To address these issues, Chromia's priorities are to allow dapps to be used by millions of users worldwide, improve the user experience of dapps to be on par with centralized applications, and allow developers to build secure and bug-proof applications using similar standards.

The Chromia platform has several dapps built on it, including games like My Neighbor Alice, in which players can trade and own virtual islands, collect and build items, and meet new people. The platform also offers solutions for enterprises, such as LAC PropertyChain, which facilitates property transactions, and Hedget, a decentralized finance application that helps protect investments from unexpected price drops. Chromia is built on the Ethereum blockchain and uses a proof-of-work consensus mechanism.

The CHR token is the native cryptocurrency of the Chromia platform and is designed to empower the platform. The token helps maintain the relationship between developers, users, and investors. CHR is an ERC20 token, but the company plans to shift the token to the native blockchain once it is launched. The token can be used as a platform currency, for paying usage fees, and for staking purposes.

The Chromia project was founded by Or Perelman, Henrik Hjelte, and Alex Mizrahi. The whitepaper was released on May 20, 2019, and the maximum total supply of the CHR token is one billion. However, 22 million tokens were burned in May 2020 to increase the token's value. Users can earn new CHR tokens primarily by staking an amount on the platform, which allows them to participate in the governance community and earn returns on their staked amount.

Overall, Chromia aims to provide a blockchain platform that addresses the issues faced by developers and users when creating dapps, and offers a range of dapps for various the company's focus on security, user experience, and developer-friendliness positions it well to attract developers and users to its platform.

One of the key features of Chromia is its ability to provide a high-performance platform for dapps. The platform is designed to handle large amounts of data and transactions, and its use of a proof-of-work consensus mechanism ensures that the network is secure and decentralized. Additionally, the Chromia platform offers a range of tools and resources for developers, including an easy-to-use development environment and a community of developers who can provide support and advice.

Another important aspect of Chromia is its focus on governance. The platform is designed to be community-driven, with users participating in the governance of the network through staking and voting. This allows for a decentralized decision-making process and ensures that the network is aligned with the interests of its users.

In terms of partnerships, Chromia has partnered with various projects and companies in the blockchain space, such as ChainGuardian, LACChain, and Tokenmom. These partnerships aim to expand the reach and adoption of Chromia and its platform, and to develop new and innovative dapps on the Chromia blockchain.

Overall, Chromia is a blockchain platform that aims to provide a high-performance, secure, and decentralized environment for the development and use of dapps. The platform's focus on user experience, developer-friendliness, and community governance positions it well to attract developers and users to its ecosystem, and its partnerships with leading projects and companies in the blockchain space will help to expand its reach and adoption.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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