Layer-1 Blockchain platform Chromia plans to launch its main-net in mid-July. Chromia aims to make it easier to build web3 applications by supporting Layer-1 Blockchain with a SQL-like programming language. Following the mainnet announcement, the altcoin price made a northward move.
Chromia announces mainnet launch, altcoin price soars!
ChromaWay, the company that built the Layer-1 Blockchain network Chromia (CHR), plans to launch the minimum viable product version of mainnet on July 16 to build the network’s core functionalities. According to a statement, Chromia will also bridge the native token CHR on the mainnet to facilitate the staking delegation process, network hosting fee payments and other core functions on the network. CHR is an ERC-20 token and BEP-20 asset on the BNB Chain.
As you have been following on Kriptokoin.com, the market has an indecisive outlook. The leading crypto Bitcoin and many leading altcoins are trading in the red zone. However, there are some that are moving in the opposite direction. Following the recent announcement, Chromia’s native token CHR made a vertical ascent. While the altcoin was trading at $0.23 during the day, it jumped to $0.2661 after the news. However, the token lost altitude with the subsequent sell-off. At the time of writing, the altcoin was trading at $0.2482, up 5.7% on a daily basis.
Co-founder A pivotal moment for Chromia!
Chromia aims to make it easier to build web3 applications by coding the base layer Blockchain in Rell, a specialized programming language comparable to SQL. The team claims that the language is designed to allow for higher-order computational functions and faster runtimes when building and running decentralized applications. Co-founder Alex Mizrahi made the following statement on the subject:
Launching MVP Mainnet is a pivotal moment for Chromia. It’s not just a technical milestone; it’s the start of something that we believe has enormous potential.
Referring to the term “relational” used in computer science to describe a way to create more intuitive databases, Mizrahi said, “Our Relational Blockchain platform is designed to deliver a streamlined and user-friendly experience. This launch sets the stage for the future growth and development of our network,” he added.
More developments about Chromia
Currently, Chromia is running an incentivized testnet initiative that rewards participants with up to 250K CHR tokens. In addition, the team also announced the launch of a local fee system and on-chain archiving, which aims to allow users to restore their data even after a period of non-payment. These developments are expected to increase network adoption and grow the TVL of ecosystem projects as more DApps are able to bridge from EVM Blockchains to Chromia.
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