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ChromaWay – Chromia (CHR) Blockchain Platform - ICO Review, Rating and Details of ChromaWay – Chromia ICO (Token Sale) - Rating: Watch

Chromapolis 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.

All applications need a way to store and handle application data – a database. Relational databases are considered to be best in class for flexibility, versatility and consistency.

Blockchains perform the role of a database: They store application data and make sure that any additions, updates and transformations are consistent with the rules of the application. By delegating blockchain logic and storage to a relational database management system, Chromapolis achieves a seamless fusion of the two.

A fully fledged blockchain with complex operations, ad-hoc queries, and a developer-friendly programming model built-in. Chromapolis succeeds because it takes full advantage of the tools which already exist.

Features & Highlights

ChromaWay believes that a blockchain serves the role of a shared database within a decentralized application ecosystem: it stores application data and makes sure that data additions, updates and transformations are authorized and consistent with the application’s rules. For this reason, Chromapolis is designed and optimized to serve the role of a shared database in the best way possible. It is implemented using the existing Postchain framework developed by ChromaWay, and it features:

  • A relational model : Blockchain data and application state are stored in a relational database. This model is considered to be best in class in terms of flexibility, versatility and consistency.
  • A relational programming language: Chromapolis dapp backends are written in a specialized language which is deeply integrated with the relational model. This model increases programmer productivity and ensures application consistency.
  • Horizontal scaling: 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.
  • Rich indexing and querying: Dapps can quickly retrieve information they need directly from nodes running the application. Dapp blockchain logic can perform complex queries without severe performance degradation.
  • High I/O throughput: data queries and updates are delegated to a heavily optimized relational database, allowing dapps to perform a large number of queries and data update operations.
  • PBFT -style consensus: Transactions can be confirmed within seconds.
  • First-class dapps: Dapps do not arise from “smart contracts” in Chromapolis, but are considered first-class entities. Chromapolis gives dapp developers a high degree of flexibility and control.
  • Dapp level provisioning: allocating resources to dapps rather than contracts gives developers the freedom to create their own fee and resource use policies.

Chromapolis offers the same level of openness, transparency and decentralization as other public blockchains. In Chromapolis miners are replaced with providers. Providers own nodes which produce blocks. It has been suggested that the four largest mining pools of both Bitcoin and Ethereum could exert significant control over those networks if they colluded. We aim to ensure that the minimum number of node providers whose collusion would be required to exert such control on Chromapolis exceeds this number significantly. It can therefore be said that the Chromapolis model does not tend towards centralization any more than the oldest and most trusted public blockchains.

Chromapolis’ PBFT-style consensus is further hardened by anchoring Chromapolis chains to a Proof of Work (PoW) blockchain, likely Bitcoin or Ethereum. This ensures that finality, the guarantee that confirmed transactions cannot be changed, is at least as strong as that of the chosen anchoring chain. To alter the history of an anchored portion of Chromapolis block history it would be necessary to combine PoW blockchain reorganization with a malicious collusion of a sufficient number of Chromapolis nodes. The likelihood of any attacker having the resources to successfully mount such an attack is extremely low.

Token Utility & Use Cases

Similar to how tokens are used in Ethereum to pay transaction fees and compensate block producers, Chroma tokens are used in Chromapolis to compensate block-producing nodes. But there is a difference: in the Ethereum model, fees are paid directly by users who make transactions. In Chromapolis, fees are paid by dapps, which can in their turn collect fees from users. This is discussed in more detail in the next section.

In Chromapolis, users pay fees indirectly:

  • The dapp pays to nodes hosting fees. Fee is paid from dapp token account on a daily basis and depends on computational resources requested by the application and used data volume.
  • The dapp itself can collect fees from users according to its own policies.

This means that there’s no system-wide fee policy for users. Dapp developers are free to implement any policy they want. We believe following fee models might be relevant:

  • Classic model: fees are paid for each performed action. Unlike in Bitcoin and Ethereum the price can be fixed, fees do not need to be demand-based.
  • Subscription model: user pays a subscription and then can perform actions without additional payments, however, these actions should be rate-limited to prevent abuse. For example, on a Twitter-like service a user might be restricted to 50 messages per day.
  • Freemium model: certain action might be performed for free, but other actions might require paid subscription. The freemium model is very common for internet businesses.
  • Subsidized model: an application might collect no fees from users, and instead rely on a pre-funded account provided by a sponsor. This can work well when sponsors derive benefit from users outside of blockchain, e.g. the dapp might be available only to users who bought a physical product. This model could work well with manufacturers of IoT devices sponsoring users who bought the device for use of a related dapp.
  • Donation-based model: wealthy donors might donate tokens to provide services to users for free.
  • Gameplay-connected: user can pay fees indirectly when they perform game actions:
    • Buy in-game items, land, etc
    • Convert tokens to “game gold”
    • Trade items
    • Pay in-game taxes

Team Members

  • Henrik Hjelte, Co-Founder, CEO, 25+ years as a developer and 10+ years as an entrepreneur. Ex. Senior consultant in Finance and IT. MSc Economics from Uppsala University. Linkedin.

  • Or Perelman, Co-Founder, COO, Bitcoin expert focused on marketing and growth. Co-founder of Safebit, an early user-friendly bitcoin wallet. Extensive Blockchain marketing experience and contacts. Law (LLB) degree from College of Netanya. Linkedin.

  • Alex Mizrahi, Co-Founder, CTO, Did the first implementation of Bitcoin 2.0 in the world. Lead the open source colored coins project from 2012. MSc in applied mathematics from Donetsk National University, graduated with honors. Author of several academic papers about Bitcoin. Also known as “killerstorm”. Linkedin.

  • Jörgen Modin, Systems analyst with a background in supplying collaborations workflows for researchers and architecting and programming bitcoin applications. Experienced educator. Linkedin.

  • August Botsford, Technical director, Experienced project leader and strategic analyst with degrees in philosophy and information security. Spends his days evaluating and communicating complex systems and applications, bridging the gap between technology and business value. Linkedin.

  • Todd Miller, VP business development USA, Led technology product development and industry partnership initiatives for more than ten years at Fannie Mae. Prior to that, managed innovation projects at Price Waterhouse and HP/EDS consulting. Linkedin.

  • Ginés Sánchez Navarro, Operations and strategy manager, Graduate in Industrial Engineering and Master in both Industrial Engineering and Business and Administration, Ginés is a passionate investor with experience as project manager and in marketing strategy. Currently focused on Business Development and Strategy with an entrepreneurial mindset. Linkedin.

  • Riccardo Sibani, Senior blockchain consultant, Graduated at EIT with double degree in Cloud Computing. He developed concepts and proof of works for ICOs, user authentication, land registries and roles management over blockchain. He also likes to talk and present. Linkedin.

  • Irene Ramón Ferré, Communication and PR manager, Graduate in Advertising and PR and Master in Media Analysis. Many years of experience in communication and events in various agencies and companies. Linkedin.

  • Tian Lin Shao, VP business development Asia, Blockchain enthusiast and cryptos investor with the ambition to impact the business and society in the future. Previously worked with banking and financing for over 4 years. Studied in US, Sweden, Asia and earned two master degrees. Trilingual (Mandarin, English and Swedish). Won the second place of Swedish cryptos championship in 2017. Linkedin.

  • Amy Waliszewska, Developer advocate, One (wo)man orchestra - an experienced developer, influencer, blogger, publicist and activist. She studied law in Poland, but changed her career path to IT, started programming and moved to Sweden. She just wants to spread a tech word to everyone. In ChromaWay, she is a bridge between developers and the outside world, working both in dev and marketing team. Linkedin.

  • Anastasia Zudina, Social media and community manager, MSc in Business, Marketing & Management. Ex-professional athlete, gamer and present blockchain enthusiast. Linkedin.

  • Rain LÖhmus, Advisor, Rain Löhmus is a serial entrepreneur and the co-founder of two banks. Hansabank was sold to Swedbank in 1999 and then LHV Bank . He is an Investment Manager and Member of Management Board of AS LHV Capital.

  • Ryan J. Orr, Advisor, Serial entrepreneur and reformed professor. Cofounder of Zanbato, Crosscoin VenturesElastic Path and Chronicled.

  • Charlie Lee, Advisor, Charlie Lee is the founder of Litecoin, the second biggest cryptocurrency after bitcoin, and an early Coinbase employee.

  • Richard Brown, Advisor, Richard Brown is Head of Technology, R3 CEV. Previously Executive Architect, Industry Innovation, Banking and Financial Markets for IBM UK. We recommend his blog.

  • Vinny Lingham, Advisor, Vinny Lingham is a South African entrepreneur who is the co-founder & CEO of Civic and previously Gyft. Also a blockchain celebrity and a dragon in the South African edition of the Dragons Den TV-show.

  • Brad Peery, Advisor, Brad Peery has 48 years of experience in Electrical Engineering, Portfolio Management, Telecommunications Analyst, Institutional Investor, Entrepreneur and VC.

  • Correy Voo, Advisor, Correy Voo is a CTO, Architect, Strategist, Advisor and Consultant. He has experience as a CTO of UBS, President and Chairman of Open Data Center Alliance and Global Head of Applied Strategy & Architecture at Bank of America.

  • Yiseul Cho, Advisor, An MIT graduate and ex-Facebooker. She is a venture partner at FBG Capital and the founder and organizer of Hyperledger London. Yiseul is a Managing Director at Zen9, a London based blockchain research firm founded in 2015.

  • Guy Corem, Advisor, Guy has deep experience with startup financing, cybersecurity, and cryptocurrencies. In addition, he has worked with leading enterprises and ventures including Intel, Boxee, and Voltaire.

  • Danny Yang, Advisor, A Harvard graduate with a PhD in Computer Science from Stanford. He is the founder of BlockSeer, an analytics tool for blockchain based transactions and applications, and Maicoin, a bitcoin services platform with offices in Taipei and Palo Alto.

Partnership Overview

  • Lantmäteriet, the Swedish mapping, cadastral and land registration authority, is a government agency in Sweden that provides information on Swedish geography and property. Its main seat is in Gävle. Bengt Kjellson is currently the Director General of the organisation.

  • The Green Assets Wallet innovation project is the result of a unique consortium of leading capital market actors and technology innovators formed under the lead of Stockholm Green Digital Finance. Throughout 2018, the consortium is building a groundbreaking blockchain platform to help accelerate the market for green investments in support of the United Nations’ Sustainable Development Goals and the objectives of the Paris Agreement. The Green Assets Wallet technology is developed to deliver efficiency and transparency to the green debt market in support of scaling the supply of, and investment in, credible green investment opportunities through cost-efficient and immutable verification of green impacts.

  • Funderbeam is a funding and trading platform for high-growth private companies. It helps founders raise funds beyond borders and provides access — and unique liquidity — to early stage equity investors. For founders, Funderbeam provides access to a community of high quality, active investors who can add value to a project — plus, founders are able to choose who can invest and therefore retain control over their cap table. The cost of raising capital is also significantly reduced via automated online processes. For investors, Funderbeam provides access to a community of ambitious growth companies — and the liquidity afforded by being able to get in and out whenever needed. Each business has a lead investor who will act as an ambassador for the deal.

  • LHV was founded in 1999, by Rain Lõhmus and Andres Viisemann. We have almost 390 people working for us. Our offices are located in Tallinn and Tartu. More than 164,000 clients are using our banking services. LHV’s leading pension funds have more than 177,000 clients. We are more innovative than the other banks and we have the strongest investment and entrepreneurship experience.

Social Media Links

Twitter Updates

  • Haven’t stayed completely up-to-date on #Chromia? No worries, we got you covered. Read about what we’ve been up to…
  • Meet @teamchromia at @BlocklandCLE today & tomorrow! We are attending a #blockchain gaming panel together with…
  • 🌐 Dec. 12-13 @teamchromia is traveling to Uruguay to participate at the @laBITconf conference in Montevideo! Join u…
  • RT @perelmanor:
  • RT @coindesk: ChromaWay will add Antler's game catalog to its own Chromia blockchain with the acquisition. @jp4874 reports…
  • An exciting event is coming up in Cleveland next week! Join us for @BlocklandCLE 9-10th December, and we will teach…
  • 📢
  • RT @chromaway: The @ChromaWay Stockholm team at a lovely Christmas dinner. 🎄
  • Last month we took a big part in a @UniTechSwe event in Stockholm by having an inclusive hackathon. 🛠 Our dev team…
  • Hungry for some 🍕 and blockchain 🎮? On December 9, @teamChromia & @WorkinmanGaming is inviting you to join an exci…