As described by the project, Chromia is a blockchain platform, making it easy for people to build decentralized apps in the real world, for a better world.
Importantly, Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT).
What Makes Chromia Better?
The main advantages arrive from the Relational blockchain combined with blockchain.
A blockchain is a simple list of transactions. Finding anything requires you to search everything from start to end. A relational database is the tech that powers your social network, your bank, all your non-trivial applications. - Chromia.com
The platform is powered by CHR — native token that was created in May 2019 to strengthen the relationships between all the network participants: users, developers and investors.
The Chromia network is perfect to generate all kinds of DApps from large enterprise applications, games, to smaller projects. Chromia works on a set of validator nodes, which runs a Byzantine Fault Tolerance (BFT) consensus algorithm. The network consensus of Chromia is further made secure by anchoring Chromia's transaction using Proof of Work blockchains similar to the one used in Bitcoin Proof of Work.
Chromia was introduced by the Swedish company Chromaway AB. The platform works as a standalone Layer-1 blockchain and also as a Layer-2 enhancement for Binance Smart Chain and Ethereum. Chromia Chains are anchored to the Proof-of-Work blockchain like Bitcoin or Ethereum.
Chromia can be used for building any types of dApps and especially suitable for the cases involving management of complex data sets, for example massive multiplayer online games. It already hosts projects like Hedget, which allows users to trade crypto options, LAC property Chain, the government land registry enterprise. In 2021 Chromia collaborated with decentralized NFT Gaming platform My Neighbour Alice and provided a dedicated node to complete relational blockchain validation within the game.
Chromia has 3 main edges over its competitors.
Unique Architecture Chromia is both a blockchain and a relational database.
Plays well with Ethereum Chromia is an independent Layer One, or a Layer Two to ship fast things faster.
Why Do Advantages Matter?
Especially for investors, the vitalness of a project with competitive advantages increases drastically. Competitive advantages matter because they generate greater value for a firm and its shareholders due to certain strengths or conditions. The more sustainable the competitive advantage, the more difficult it is for competitors to neutralize the advantage. Some other benefits of competitive advantages include;
Allows firms to focus resources (time, talent, and treasure) for maximum ROI.
Adds constancy and predictability to your revenue streams.
Helps organisations achieve organizational momentum.
Reduces unnecessary marketing, recruiting, and fundraising expenditures.
Sources of the competitive advantage
By competitive advantage is designated the making by a firm some superior products or services from a significant point of view for consumers, compared to similar offers of most competitors. “The competitive advantage is the ability of the firm to have a superior performance to its competitors in terms of the basic purpose of the organization's existence: the profitability” (Grant, 1997, p. 174). The competitive struggle has been and is defined as a struggle for competitive advantage, therefore, the action that does not lead to competitive advantage for the management of the organization is not of strategic interest. An unfavourable business environment amplifies the action and the consequences of all types of difficulties the company is exposed to, from the perspective of the diversity of forms under which they appear and due to the magnitude of the effects they generate (Dragomir, 2016). In an organization, the competitive advantage can be obtained from internal sources of the organization, from external sources to the organization or, obviously, from both sources simultaneously. Among the external sources for obtaining the competitive advantage we mention: changes in customer or beneficiary demand; price changes; changes in the technical and technological level; capability of scanning the environment and obtaining information; flexibility to respond to change, involving the structure, culture and equipment of software, etc.
Lastly, here is a list of Chromia Powered Projects
Chromia for Games Chain of Alliance Chain of Alliance is an on-chain role-playing and strategy game in a fantasy/science fiction setting with NFTs. Join a party of adventurers and combat other players parties or AI-controlled monsters. Loot and get XP to enhance and develop your heroes! Play Now My Neighbor Alice My Neighbor Alice is a multiplayer builder game, introducing blockchain to millions of players. Anyone can buy and own virtual islands, collect and build exciting items and meet new friends. Play Now Mines of Dalarnia Mines of Dalarnia is an action-adventure game. Players mine and combine various in-game items, improving their skills and gear to unlock the Mines of Dalarnia universe's secrets while fighting enemies and searching for rare relics and artifacts. Play Now Krystopia: Nova’s Journey Krystopia: Nova’s Journey is an immersive puzzle game developed by Antler Interactive. Players need to solve challenging puzzles and figure out the mystery of a new planet to progress in a game. The game connects to Mines of Dalarnia using Chromia’s innovative cross-game mechanism. Play Now Chain of Alliance Chain of Alliance is an on-chain role-playing and strategy game in a fantasy/science fiction setting with NFTs. Join a party of adventurers and combat other players parties or AI-controlled monsters. Loot and get XP to enhance and develop your heroes! Play Now My Neighbor Alice My Neighbor Alice is a multiplayer builder game, introducing blockchain to millions of players. Anyone can buy and own virtual islands, collect and build exciting items and meet new friends. Play Now My Neighbor Alice Mines of Dalarnia Krystopia: Nova’s Journey Chain of Alliance
Chromia for Enterprise slide 2 of 3 Capchap CapChap is a legaltech startup providing a blockchain based shareholder registry and corporate actions application based on the Chromia Platform. Visit Website LAC PropertyChain LAC PropertyChain is a land administration initiative in Latin America and the Caribbean powered by the Chromia public blockchain. Sponsored by the Inter-American Development Bank, this project has developed an open-source application that facilitates property transactions. Visit Website Lingon Lingon is a platform for issuing and managing digital certificates on blockchain to prove both authenticity and ownership of unique assets. Chromia and Lingon will create a trustless solution for a traceable and transparent digital identity based on the relational blockchain that rules out the possibility of tampering. Visit Website Capchap CapChap is a legaltech startup providing a blockchain based shareholder registry and corporate actions application based on the Chromia Platform. Visit Website LAC PropertyChain LAC PropertyChain is a land administration initiative in Latin America and the Caribbean powered by the Chromia public blockchain. Sponsored by the Inter-American Development Bank, this project has developed an open-source application that facilitates property transactions. Visit Website LAC PropertyChain Lingon Capchap
Chromia for DeFi slide 1 of 1 Hedget Easy Hedge for Your Cryptocurrencies. The future economy will be built on cryptocurrencies, but they are very volatile and could be risky investments. Hedget introduces decentralized options, you pay the smallest possible premium to secure your positions against unexpected price movements. Visit Website
Chromia for Fair Applications slide 3 of 2 Green Assets Wallet Green Assets Wallet is the first enterprise decentralized app on Chromia designed for green bond validation and impact reporting, co-created by a consortium of leading capital market actors, green finance experts and technology innovators. Visit Website Chromunity Operating entirely on top of the Chromia relational blockchain making it the melting pot for the Chromia community. It is our take on a fully decentralized social media platform where users engage on their own terms by voting mechanisms and other cool features. Visit Website Green Assets Wallet Green Assets Wallet is the first enterprise decentralized app on Chromia designed for green bond validation and impact reporting, co-created by a consortium of leading capital market actors, green finance experts and technology innovators.
Key Resources & Readings:
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