Innovative layer-1 blockchain Chromia (CHR) announced the planned launch date of its minimum viable product (MVP) mainnet. On July 16, 2024, the network will go live with a full range of basic functionalities for the distributed ledger and its CHR token.
Chromia (CHR) MVP mainnet and bridge to go live on July 16
According to the official announcement shared by the team of Chromia (CHR), an L1 blockchain by ChromaWay focused on novel scaling techniques for dApps, its mainnet MVP is set to launch on July 16, 2024. The new release will coincide with the relational blockchain going live.
The MVP launch will initiate the core functions of the native CHR token, establish a ground framework for the Chromia network and introduce new capabilities across the ecosystem.
Following the launch, the CHR token, which has previously been domiciled on the Ethereum blockchain (ERC-20) and BNB Smart Chain (BEP-20), can be seamlessly bridged to the main Chromia network.
Chromia (CHR) cofounder Alex Mizrahi welcomes the event as a pivotal milestone for the CHR community and the entire dApp ecosystem:
It's not just a technical milestone; it's the beginning of something that we believe has enormous potential. Our relational blockchain platform is designed to deliver a streamlined and user-friendly experience, and this launch sets the stage for the future growth and development of our network. We're excited to see how our ecosystem partners and the wider crypto community will leverage our technology.
In addition, the MVP mainnet will also introduce core functions across the ecosystem, which are integral to the network’s operation and security. CHR holders will be able to participate in the staking delegation process, payment of network hosting fees and provider payouts, all of which will be handled exclusively on Chromia’s MVP Mainnet.
Chromia (CHR) introduces novel way of storing data on-chain
The launch of the MVP mainnet will also revamp a number of major blockchain economic concepts, allowing a leasing model instead of paying blockchain fees per transaction. This allows developers to lease resource containers, deploy their dApps into them and design their revenue models.
It will offer a more streamlined and user-friendly experience, for instance, allowing users to interact within the ecosystem without the need to own cryptocurrency.
Vladislav SopovPrior to launching MVP mainnet, Chromia (CHR) organized an incentivized testnet campaign to stress test main network mechanisms, validation and staking instruments, as well as transactions between on-chain accounts on Chromia (CHR).
Godfrey Benjamin
Denys Serhiichuk
