What is Chromia (CHR)?

Chromia presents itself as a relational blockchain that combines relational databases with blockchain technology to facilitate the seamless making of DApps.

A relational database is a commonly used database that stores data in a relational model instead of a distributed ledger model like blockchains. It arranges data and entries in tables with columns and rows, making it easier to find data when needed. Once combined with blockchain, this relational model gives the users a single source for indexing and querying data, unlike distributed ledgers existing in original blockchains. Such an approach makes the dApp development process more efficient, secure, and seamless for developers. It also further helps Chromia to overcome the shortcomings experienced by other existing DApp development blockchains, like bad user experience, high gas fees, and poor security.

Chromaway, a blockchain solution company, founded Chromia in 2018 with three blockchain enthusiasts- Henrik Hjelte, Or Perelman, and Alex Mizrahi. Till now, it has contributed to the development of various famous dApps like My Neighbor Alice (ALICE) game; LAC PropertyChain, a land registry system; Corite (CO), a music streaming service; Vault12, a digital asset custody solution; and many more.

It has a native ERC-20 token, Chroma, under the CHR ticker. This token plays the role of standard currency within the Chromia economy. The dApp developers can use it to pay fees, get incentives, and even as a reserve. Exactly 1 billion CHR tokens were created when the Chromia system launched. The platform will not create any more CHR tokens in the future.

How does Chromia (CHR) work?

Chromia works on the idea that a blockchain will be better if finding information could be faster and easier. Blockchains have been criticized as an inefficient database technology that needs complex processing and indexing due to its distributed nature. Due to that reason, Chromia does not consider the digital ledger of a blockchain as an efficient database.

It presented a solution to this problem by replacing the usual blockchain database with a relational database. E.F.Codd, a researcher at IBM, first invented relational databases in 1970 to simplify searching information. With the tabular arrangement of data, this database makes it easier to find data. Most existing entities like banks, the web, and other enterprises have been working on relational databases for several decades.

In the functioning of Chromia, a light software layer adds up to an existing database to handle the voting and consensus aspects. Once done, a blockchain enters the database to create a relational database.

Usually, relational databases work in the SQL programming language. However, the relational blockchain of Chromia works on a custom programming language, Rell. This language is very similar to SQL in terms of functionality for developers. With Rell, the developers working on Chromia can enhance an existing dApp and create new ones with greater scalability and customization. It is faster and easier to use than many other blockchain languages.

Unlike Ethereum, which records all transactions in the single main chain, Chromia deploys individual chains for its dApps that run parallel to the main chain. Each blockchain associated with Chromia gets a set of validator nodes, a subset of all nodes in Chromia. This set of nodes runs a BFT (Byzantine Fault Tolerance) consensus algorithm where a network continues to function with planned actions as long as most participants stay reliable and genuine.

All the payments by dApp developers within the Chromia ecosystem occur in the Chroma (CHR) token. The developers can also use their CHR tokens as reserves to peg their new tokens. Nodes associated with Chromia also get compensated in CHR tokens only. Chromia also allows the stalking of CHR tokens, under which it offers good APR.

How to Buy Chromia (CHR) in India?

There are many platforms where you can invest and trade CHR in India.

One such platform is Flitpay. To buy Chromia tokens (CHR) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy CHR tokens and execute the CHR purchase.

You can instantly convert your INR to Chromia (CHR) tokens and  Chromia (CHR) tokens to INR and withdraw your INR through bank transfers whenever you want.

Flitpay is the safest cryptocurrency exchange in India where you can buy Bitcoin, Ethereum, Dogecoin and other cryptocurrencies securely.

What to Do After I Buy Chromia (CHR)?

Chromia (CHR) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold Chromia tokens (CHR) until they reach a high price and then sell them through the FLITPAY OTC order facility. Users can earn significant profit from buying it at a lower price and selling it at a higher price.

Besides that, the Chromia token holders have many advantages in the Chromia blockchain platform. It can be used to pay for the services or like hosting and fee payment in the Chromia ecosystem. Those who own CHR tokens can also stake their holdings to earn good interest as a reward.

Why Use Chromia (CHR)?

Chromia (CHR) offers several compelling reasons for its use in the blockchain and decentralized application (dApp) space.

Firstly, it employs a unique relational blockchain model that solves problems like bad user experience, less security, and high fees in other dApp developing platforms. Another significant advantage of Chromia is its developer-friendly Rell language that works similarly to SQL and promotes faster and better dApp development. Furthermore, it prioritizes an ideal environment for dApp deployment by running individual sidechains for each dApp. In summary, Chromia's unique and developer-friendly approach makes it a compelling choice for those seeking to build simplified dApps.

FAQs

What is Chromia (CHR)?
Chromia (CHR) is the native utility token of the Chromia blockchain platform. It serves as a means of value exchange, transaction fees, and governance within the ecosystem, enabling dApps to operate smoothly. CHR has a maximum supply of 1 billion tokens.

What is the Chromia (CHR) price in India?
Check out the current INR price of CHR  tokens in India on Flitpay.

Which is the best platform to buy Chromia (CHR) in India?
The best crypto exchange in India to buy Chormia (CHR) or your favorite cryptocurrencies is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Buying Chromia (CHR)?
Chromia (CHR) offers a unique relational blockchain model that ensures efficient and cost-effective deployment of dApps. Uniquely, it can operate as a standalone layer-1 blockchain and also as a layer-2 scaling solution for Ethereum. Overall, it brings some much-needed solutions to the most commonly faced problems in the dApp development industry like bad user interface and high gas fees.

Is it safe to invest in Chromia (CHR) in India?
Yes, investing and trading in Chromia (CHR) is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to buy Chromia. It offers the most real-time prices and advanced investing features.

Is Chromia (CHR) a Good Investment?
With the increasing number of dApps in the future, the significance of the Chromia platform and its token CHR can hike. But cryptocurrencies can be highly volatile at times. Hence, one needs to be careful while making any investment decisions.