Chromia: An Open Source Public Blockchain

Introduction:

Chromia is a blockchain platform that facilitates building decentralized apps in the real world. Chromia was previously named Chromapolis and Chromaway AB, a Swedish firm, created this open-source, public blockchain. Chromia is a Layer-1 and Layer-2 blockchain solution under active development. The main goal is to deliver enhanced features and data handling and storage capabilities to decentralized applications. This allows new generations of dapps to scale beyond their current capabilities and conceive in response to existing platforms' shortcomings.

Chroma (CHR) is the native token of the Chromia platform and it was launched in May of 2019. The Chromia platform is powered by the CHR token, which is designed to establish a mutually beneficial relationship between users, developers, and investors.

The CHR token's main purposes:

• Act as platform currency
• Payment of hosting fees
• Ecosystem staking
• System-wide purposes

The motivation and priorities of this platform are as follows: 

• Allow for the scaling of dapps to millions of users.
• To attain parity with centralized applications and improve the user experience of dapps.
• Allow developers to build secure applications using familiar paradigms.

How Does Chromia Work?

Chromia is a standalone Layer-1 blockchain and EVM compatible Layer-2 enhancement for Ethereum and Binance Smart Chain. It's intended to improve existing dApps and enable the development of next-generation dApps by improved data handling, customizable fee structures, and providing scalability. 

The blockchain utilizes a proprietary relational blockchain architecture as well as Rell, a native programming language. Rell is similar to SQL in coding and function. It enables developers to take use of blockchain's security and immutability while storing and processing data with the speed of database efficiency .

Chromia's decentralized applications run on their own sidechain, which is based in the main blockchain. This allows each application to scale more effectively and gives developers the option of choosing from a number of fee structures.

Financial Analysis:

Chromia is on fire! Although an overall declining trend had been seen from July 26, 2021, to October 29, 2021, Chromia's market capitalization rank saw a sharp jump since November up to the time of writing this post, rising from the rank of 320 to the rank of 151! Breathtaking Movement!

CHR's Price:

The price also saw a similar jump over the same period, going up from $0.35 to $1.23, almost 4x! Also, CHR's liquidity score is 60% over the market's average score, which means that you will definitely not face difficulties in selling CHR in bear markets.

CHR's ROI:

Talking about Return On Investment (ROI), Chromia (CHR) provided its investors with a 4328% ROI over the last year. This number is really impressive for any investor, it is much higher than CHR's similar project average ROI of 1,351%, almost 4x. Moreover, CHR outperformed compared to the market's top 1500 projects' average ROI.

CHR's Popularity:

Popularity is another important factor in the success of crypto projects. Our data shows a 55% increase in Chromia Twitter account followers over the last five months, surpassing 10k followers. However, Chromia's Telegram channel users decreased by 8% over the same time frame.

YOU ARE SAYING THAT Chromia IS THE BEST CRYPTOCURRENCY TO INVEST IN?

Without a doubt, NFT projects are among the most interesting cryptocurrency projects these days. However, apart from popularity, there are several other factors that need to be considered to choose a project as an investment option. The overall market trend, projects' detailed information, and most critical ones, your own financial situation, and preferences.

Cryptologist provides all the information you need about the cryptocurrency market, from general overviews to a case-by-case analysis. However, no one better than you is aware of your financial situation and preferences. Therefore, you are the best person to make the decision whether to invest in a project or not.