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What Is Chromia (CHR) and How to Buy?

2023-05-05 07:55:07

Chromia is a cutting-edge blockchain-based platform that enables developers with a straightforward environment for rapidly scalable dApps. Chromia's blockchain, developed by ChromiaWay employing a new method of blockchain development with relational design, has seen widespread platform adoption across industries from business to finance to gaming.

The Chroma token (CHR) was introduced in May 2019. Swedish firm Chromaway AB developed the public, open-source blockchain platform Chromia. Chromaway AB built Postchain, a predecessor of the Chromia blockchain, with enterprise customers in mind.

Let’s learn more about Chromia, its potential, and how to buy the CHR token.

What is Chromia (CHR)

What Is Chromia (CHR)?

Chromia is a blockchain platform for decentralized applications. It was developed in response to the limitations of existing platforms and is intended to enable a new generation of dapps to expand beyond what is currently achievable. Chromia was formerly known by its former name, Chromapolis.

Their top priorities are as follows: 

  1. Enable decentralized applications to scale to millions of users. 
  2. Enhance the user experience of decentralized applications such that it is on par with that of centralized applications.
  3. Give developers the ability to construct secure applications while utilizing principles already familiar to them.

Chromia facilitates the development of decentralized applications (dApps) with the user-friendliness, power, and logic of a proper database by combining relational databases with blockchain technology. Developers can use the tools provided by the platform to create a wide variety of applications, and Chromia can function as a public, private, or hybrid blockchain.

Chroma (CHR), the platform's native token, is intended to serve as a link between users, developers, and investors in a mutually beneficial relationship for all parties involved. CHR can be used for various system-wide functions in addition to its role as a platform currency, including the payment of hosting fees, the staking of coins, and others.

How Does Chromia (CHR) Work? 

Chromia is an independent blockchain that operates at Layer 1 and an EVM-compatible upgrade that operates at Layer 2 for the BNB Chain and Ethereum. It is intended to improve already-existing decentralized applications (dApps) and make it possible to develop decentralized applications of the next generation by enabling scalability, enhanced data processing, and adjustable charge structures. 

Both a specialized kind of programming known as Rell and a novel architecture known as relational blockchain are utilized in the operation of the blockchain. Rell was developed to function and code similarly to SQL. 

This enables developers to use the immutability and security offered by blockchain technology while still storing and manipulating data with the efficiency provided by relational databases. 

Each decentralized application (dApp) hosted on Chromia runs on its sidechain based on the primary blockchain. This enables each application to scale more efficiently and allows each application's developers to select from several different price structures. For instance, one app might compel users to pay transaction fees in CHR (similar to how Ethereum or Bitcoin works). In contrast, another app might gamble enough CHR to reserve processing capacity and permit its customers to conduct unlimited transactions without paying any costs. Both apps would use the same blockchain technology.

History of Chromia (CHR)

CEO Henrik Hjelte, COO Or Perelman, and Chief Technology Officer Alex Mizrahi were the founders of Chromia. Previous ventures undertaken by team members include establishing the blockchain token platform Coloured Coins and the Bitcoin wallet Safebit. Several well-known names in the blockchain industry provided financial backing for the initiative, including 21M Capital, Arrington XRP Capital, and Neo Global Capital, amongst others.

The company's founders started working on the tools in 2012 to deliver a publicly hosted application architecture that fully aligns with users' requirements. This marked the beginning of the journey. 

ChromaWay is a firm that specializes in open-source and free software. It was an early pioneer in blockchain 2.0 technology and served as a platform for smart contracts and the issuance and transfer of digital assets. The team who created ChromaWay did so in 2014. This eventually resulted in the development of Chromia in 2018, a decentralized platform independent of ChromaWay's control.

What Makes Chromia (CHR) Unique?

Chromia sets itself apart from other blockchain systems by using relational databases. Relational databases provide decades of experience in real-world company technology, which is applied across all sectors. The Rell programming language used by the platform takes excellent pleasure because it is both simpler to learn and more efficient than other blockchain languages. Because it allows for fewer lines of code, developers can write code anywhere from seven to 10 times faster.

The Chromia Vault is a piece of software that acts as a wallet and gives users a place to manage their tokens and dApps hosted on the Chromia blockchain. Additionally, the Chromia Vault Single Sign-On is a one-of-a-kind feature that lowers the need to enter passwords without compromising the system's overall level of security.

How to Buy CHR Tokens? 

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including CHR, users can now trade easily and seamlessly.

If you already have a CoinEx account, this is how to purchase and sell CHR on CoinEx:

  1. Enter your login information: To access your CoinEx account, visit the website or launch the app and enter your email and password.
  2. Put funds in your account so that you can make CHR purchases. 
  3. You can deposit the amount through a credit card, etc.
  4. Once you have funds in your account, you may buy CHR by going to the CHR trading page and choosing the trading pair you wish to use.
  5. Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for CHR. Put in your order and the quantity you want to buy. 


What is the market cap of Chromia?

The total market cap of Chromia is 106.15 million. 

How many Chromia (CHR) coins are there?

The total supply of CHR coins is 686.54 million.

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