The Beginners guide to Chromia
What is Chromia?
Chromia is a new blockchain platform for decentralized applications, conceived in response to the
shortcomings of existing platforms and designed to enable a new generation of dapps to scale
beyond what is currently possible. Chromia was previously named Chromapolis. It is a relational blockchain platform with unique scalability factor that helps this crypto make its mark and stand out from the rest. Created by highly qualified experts who were pioneers of colored coins and blockchain2.0. The company furthermore has received support from governments and big enterprises.
What are the benefits of chromia?
While platforms such as Ethereum allow any kind of application to be implemented in theory, in
practice they have many limitations: bad user experience, high fees, frustrating developer
experience, poor security. This prevents decentralized apps (dapps) from going mainstream.
Chromia believes that to address these problems properly, the blockchain architecture and programming model need a rethink with the needs of decentralized applications in mind.
Priorities of chromia platform includes:
- Allow dapps to scale to millions of users.
- Improve the user experience of dapps to achieve parity with centralized applications.
- Allow developers to build secure applications with using familiar paradigms.
The platform is suitable for all kinds of dapps and particularly well suited to cases requiring high I/O capacity or involving management of complex data sets. Massively multiplayer online games (MMOGs) are an example of such a case.
How to buy $CHR?
Part of the Ethereum blockchain, chromia cryptocurrency is currently an ERC20 token. There will be a 1:1 conversion rate of ERC20 tokens to the new native blockchain, when the native token of chromia blockchain is ready. It can be purchased via common exchanges like Bilaxy, Bitmax and BithumbGlobal, as well as KuCoin. Kindly note that each exchange with its own fee policy and kyc requirement.
CHR token Storage
There are innumerable wallets available for the storage of CHR since it is currently ERC20 token. Any Ethereum wallet is therefore going to work just fine as an CHR token wallet for the main time before migrating to its own blockchain. Some popular ones are: TREZORLedger ,BlueExodusLedger ,Nano S and MyEtherWallet (MEW) which is amongst the most popular of them all. Holding your private key is the goal for any wallet you might choose.
Should you invest in $CHR?
$CHR coin has shown some interesting movements since the beginning of the year 2020. Within few weeks, the price has appreciated remarkably — indicative of a bullish sentiment in the market. As a cryptocurrency and ICO investor however, you may want to have to look at all the possible aspects and invest wisely after doing your own due diligence.
Conclusion
As the blockchain industry grows and matures the importance of relationalblockchain also increases. For the whole industry to thrive, there should be an active effort by industry participants to work together to achieve the common goal of bringing blockchain technology to the masses. The growth of the industry can only be achieved expanding outwards, instead of trying to wrestle from each other.
Dapps market share projects must all be working together to onboard new users in the space and this is much easier to achieve if they leverage each other’s strengths and resources.
Sources:
www.chromia.com
