Chromia is a relational blockchain platform designed to enable a new generation of dapps to scale beyond what is currently possible.
Chromia (by ChromaWay) 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 is both a blockchain and a relational database. This means that decentralized applications (dapps) can be written in a way that is familiar to developers all over the world, whether they work on large enterprise applications, games, or smaller projects.
Dapps do not arise from “smart contracts” in Chromia, but are considered first-class entities: each dapp blockchain runs on a specific set of nodes and typically have their own dedicated CPU thread. If a dapp needs more than one execution thread, it can consist of multiple shards, each of which will be a sidechain. That gives dapp developers a high degree of flexibility and control.
In Chromia, dapps are more than just a collection of “smart contracts”. Each dapp has its own blockchain, a sidechain, which runs on a specific set of nodes. Each dapp can have its own tokens, its own monetization, its own governance. A dapp pays for hosting, not for every transaction. This gives dapp developers a high degree of flexibility and control.
In Chromia, every dapp has full freedom to make its own choices.
Data queries and updates are delegated to a heavily optimized relational database, allowing dapps to perform a large number (100k+) of queries, data retrievals and updates operations from blockchain within seconds.
Dapps on Chromia can achieve parity with centralized applications in terms of ease of use and make user onboarding process much simpler. Dapps which require complex UI, such as games, can be implemented using a separate client delivered as a web or mobile application. In this case security can be controlled through the use of sub-accounts. The dapp client will receive a private key of a sub-account which belongs to a user and will be able to sign transaction on behalf of the user. This means that the user can perform game actions in a natural way, similar to how “normal” games work.
Unlike many other dapp platforms, Chromia dapps can be updated in situ. Modern app development is a dynamic process involving constant change. Apps must be able to evolve and adapt over time in order to remain relevant, useful, and secure. We took this into account when designing Chromia. Updates can be queued in the form of a smart contract that will, at a predefined block height, and if a voting majority of validating nodes accept, modify the database structure in a series of codified and deterministic steps.
Chromia allows dapps to scale to millions of users via horizontal scaling with sidechain sharding. Each dapp has its own blockchain(s). Because each blockchain is run by a subset of nodes, it is possible to increase total throughput by increasing the number of nodes
Dapps can quickly retrieve information they need directly from nodes running the application. Dapp blockchain logic can perform complex queries without performance degradation. Thanks to rich indexing and query capability the entire dapp state relevant to the user can be transferred to the client in a matter of seconds.
Chromia has Dapp level provisioning. It means the freedom of dapps to create their own fee and resource use policies. It also allows token economics to be integrated with the fee model, i.e. fees are taken from profits “earned” by an application. It also supports mechanisms for governance and dapp updates which are built-in to the platform.
PBFT-style consensus enables transactions confirmation within seconds. Chromia aim to support 50 million token transfers per day per blockchain in MVP version of software.Transfers can be confirmed within 2 seconds which should be enough to support in-person payments.
Chromia is a brainchild of ChromaWay. ChromaWay has a long record of delivering pioneering projects around the world. We issued Euros on the Bitcoin blockchain with LHV bank, allowed investors to invest in startups in a wholly decentralised way with Funderbeam, digitized the title transfer process with the Swedish land registry, and mediated the green bond market with SGDF. ChromaWay’s core team created the world’s first protocol to issue tokens already in 2012, when blockchain was called “bitcoin 2.0”. Then ChromaWay introduced the relational model to enterprise blockchains with a consortium database called Postchain. Now Postchain is going public as the foundation for Chromia, a better blockchain for building decentralised apps. Chromia does not reinvent the wheel. ChromaWay is incorporating seven years of experience into something which is ready for the future.
Chromia is the product of the many lessons we have learned over the years. Every problem that we have encountered has led to solutions and best practices that we have endeavoured to incorporate into Chromia so that users of the platform can focus on what is important: building world-changing dapps ChromaWay can claim to have created the first system for issuing assets with blockchain with the original colored coins protocol. We can also claim the first blockchain project with a bank (LHV) and with a government agency (Lantmäteriet, the Swedish land registry). Our clients consistently achieve recognition and receive awards for the innovative work they do with us With Chromia, ChromaWay intends to revolutionise the world of decentralised apps. We are working towards a future where the full potential of decentralised applications can be realised with practical and easy to use tools.
Postchain is a consortium database that offers highly resilient distributed database management with distributed control.
Postchain is the only product on the market that combines the immutable consensus of a blockchain and the ACID properties of a database management system.
Postchain allows you to share information between companies and/or individuals in a secure and transparent way.
By forming a consortium that has a shared consortium database you can safely reconcile and share data. Postchain uses a consensus mechanism that ensures that even if one or several of the participants in the system is hacked or otherwise compromised the system as a whole functions as intended.
Rell is a language for relational blockchain programming. It combines the following features:
-Similar to SQL. People familiar with SQL should feel at home once they learn the new syntax. Safety-optimized.
- Arithmetic operations are safe right out of the box, programmers do not need to worry about overflows. Concise, expressive and convenient.
- As a data definition language, Rell is up to 7x more compact than SQL. Allows meta-programming.
- Programmers can use relational programming idioms they are already familiar with.
- Rell aims to make programming as ergonomic as possible. It minimizes boilerplate and repetition. At the same time, as a static type system it can detect and prevent many kinds of defects.
Chroma is a metatoken native to Chromia. It serves as a medium for exchange and an economic balancing tool for dapps deployed on Chromia. It:
- Enables dapps to pay for system resource usage
- Enables resource conversion between dapps
-Enables smart contract automatic conversion liquidity and profit sharing
Provides a mechanism for validator nodes to stake a security deposit for participation in the public network
One billion tokens will be created upon launch of the system. That constitutes the token supply limit, no tokens will be created in the future. Initial distribution of tokens:
- 70% owned by ChromaWay to be sold, awarded to team members, invested or used in any other way
- 3% put into an automatic conversion contract on Ethereum to enable Chroma <-> ETH conversion .
- 2% put into system node compensation pool
- 25% is allocated for promotional use: to be given to users to try dapps on Chromia.
Within the Chromaway allocation, 25% is sold initially to select partners. The rest will be locked and released slowly over time. Up to 17% will be unlocked during the first year after launch, then up to 12% per year.
ChromaWay and its subsidiaries will hold tokens for at least 3 years. This creates long-term incentive for Chromia development.
Afterwards, Chromia development and governance must transition to a decentralized model.
Promotional tokens will also be initially locked, and unlocked at a rate of 0.5% per month.
Thus percentage of tokens in circulation changes over time :
1. At start: up to 30%
2. After 1 year: up to 53%
3. After 2 years: up to 71%
4. After 3 years: up to 89%
5. After 4.5 years: 100%
The Swedish Land Registry (Lantmäteriet), Chromaway, Kairos Future, Telia Company, SBAB Bank, Landshypotek bank and Evry investigate Smart Contracts and Blockchain for the process of selling a house.
In collaboration with Stockholm Green Digital Finance, Chromaway is building a plattform for validating green investment claims and reporting on the impact of green projects.
As an investor, you can invest in startups around the world and trade your investment tokens whenever you wish. All transactions on Funderbeam are recorded on the blockchain, making investing and trading fast, transparent and secure.
Cuber, that ChromWay built for LHV Bank, can transfer euros as tokens on the Bitcoin network without being affected by fluctuations on the price of the bitcoin currently. Stable coin, since 2015.