Chromia

Halal Rating :
Questionable
Last Price $0.25 Last updated:
Rank 294
1D Change 8.17 %
Market Cap $205.83m
Circulating supply 825,131,839
Maximum supply 978,064,789
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Platform
  • Enterprise Solutions
  • Collectibles & NFTs
  • DeFi
  • Gaming
  • Ethereum Ecosystem
  • Metaverse
  • Chromia Ecosystem
  • Web3
  • BNB Chain

Overview

Chromia is a relational blockchain platform designed to make it easier for developers to create decentralized applications (dApps). The platform aims to solve scalability issues faced by other blockchain networks while providing a more developer-friendly environment through the use of a relational database model.

Intended Utility

CHR token serves multiple purposes within the Chromia ecosystem: It's used for paying hosting fees, as a governance token for the platform, and as a means to secure the network through its Proof-of-Stake mechanism. The token is also used to pay for transaction fees and other services within the Chromia ecosystem.

Actual Utility and Development Activity

Chromia has demonstrated actual utility through several real-world applications and partnerships. The platform has been actively used in gaming projects like My Neighbor Alice and Mines of Dalarnia. The development team maintains regular updates to the platform, with consistent GitHub activity and technical improvements.

Token Distribution and Governance

The initial token distribution allocated 20% to the team and advisors with a vesting period. The remaining tokens were distributed through private sales, public sales, and ecosystem development. The vesting schedules and lock-up periods appear reasonable and designed to prevent sudden dumps of tokens.

Revenue Model and Technology

Chromia's revenue model is based on hosting fees and transaction fees, which are paid in CHR tokens. The platform uses a unique blockchain architecture that combines relational databases with blockchain technology. This model doesn't rely on interest-based mechanisms and focuses on providing genuine utility through technological innovation.

Crypto Impact

To assign a comfort level investing in Chromia from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Chromia.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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