Chromia, a blockchain forum that supports dApp deployment through smart contracts, has announced a significant development. According to the platform, its latest project, “MVP Mainnet,” an interactive blockchain network, will be released on July 16th. The company revealed that this project will serve as the foundation for the entire Chromia network.
Moreover, this endeavor marks the launch of the local CHR token on the platform. The release of the project will reportedly expand the functionality of the current CHR coin by bridging it to the MVP Mainnet. Currently, Chromia issues the CHR coin on the BNB Chain as BEP-20 and on Ethereum as ERC-20. The MVP Mainnet release will initiate CHHRhHR’s core functions.
These operations play a crucial role in the security and functionality of the company, including payment of hosting fees on the network and provider payouts. Following the launch of MVP Mainnet, the project will exclusively handle these operations. Henrik Hjelte, co-founder of Chromia, shared his perspective on this initiative.
Hjelte stated that his company’s journey began 12 years ago with Colored Coins, which was reportedly the earliest token protocol. The company then introduced a stablecoin backed by a bank. Additionally, they recognized the significant potential of integrating relational databases with blockchain, which laid the foundation for Chromia’s establishment.
The main focus of this initiative is to offer a streamlined consumer experience. As Hjelte mentioned, after years of development, the concept of relational blockchain has been realized with the new project. Alex Mizrahi, another co-founder of the platform, explained that Chromia combines blockchain architecture, database theory, and ideas related to cloud computing. This combination aims to provide a comprehensive set of tools necessary for an exceptional user experience. Mizrahi believes that this launch is a step towards the future development of the platform. While the MVP Mainnet establishes the core network operations of Chromia, the upcoming evolution stage will witness a gradual increase in network activity.