Chromias MVP mainnet scheduled for launch on July 16th

Chromia, a Layer-1 blockchain platform that focuses on relational blockchain technology, has announced that its MVP mainnet will be launched on July 16. This launch will serve as the foundation for Chromia’s wider ecosystem and will introduce its native CHR cryptocurrency token. The mainnet will allow for the migration of the current CHR token from Ethereum and Binance BNB Chain to Chromia’s own blockchain.

The transition to the new mainnet will activate essential functions of the CHR token, such as the payment of network hosting fees and provider payouts, which will be exclusively handled on the MVP Mainnet. Henrik Hjelte, Co-Founder of Chromia, expressed his excitement about the launch, highlighting the journey that led to the creation of Chromia and the realization of the concept of relational blockchain.

Co-founder Alex Mizrahi also expressed his hope for the platform’s future growth and development, emphasizing how Chromia combines blockchain architecture with ideas from cloud computing and database theory to provide a comprehensive set of tools for an exceptional user experience.

Relational blockchain technology, developed by ChromaWay, allows for complex searches and calculations directly on the blockchain, eliminating the need for third-party indexing, data availability layers, and RPC servers. Developers can lease resource containers and create their own revenue streams to enable new Web3 business models, ensuring a seamless user experience while adhering to the decentralized principles of blockchain.

With the launch of the mainnet, Chromia aims to gradually increase network activity and boost its total value locked (TVL) as more ecosystem projects deploy decentralized applications (dApps) and bridge additional assets to the platform.