ChromaWay Chromapolis ICO (Chroma Token): Analysis Review
Chromapolis is a database centric decentralized application oriented platform with a different approach to token economy. Chromapolis supplies developers with all the necessary layers to build complete applications, integrating the flexibility of relational databases with distributed ledger technology. It is developed by Chromaway a Swedish blockchain firm that has been in the industry since 2014.
Chromapolis introduces a new model delegating resource management to the level of individual DApps. This opens up a variety of fee models which are not possible on other blockchain networks. Chromapolis utilizes a relational blockchain model that allows for application state to be stored in a relational database.
The chromapolis ecosystem allows each DApp within it to possess its own sidechain allowing applications to operate in a way does not affect other DApps running in parallel.
Nodes must stake a certain amount of Chroma tokens to participate in the network. The DApp providers are the one who reward nodes for participation.
They include the following:
- Henrik Hjelte – CEO and co-founder of Chromaway
- Or Perelman – COO and co-founder of Safebit
- Alex Mizrahi – CTO and a full stack developer
Decentralized applications have complex data structures and chromapolis introduces relational databases to address this. Since Relational databases are common in software engineering it is an easy transition for developers working on decentralized applications.
Users pay fees indirectly hence spared from the pay-per-transaction model common in blockchain space. Alternatively, DApps can make direct payments to noders depending on data volume consumed by users. This gives DApp developers options to use more user-friendly payment methods. This appeals to developers and users as the payment models are more familiar to average consumer.
Also, as for the company as per their Chromaway website – they mention of a partnership with Sofitto to build SofiWay, which will be a blockchain network for instant settlement of payment directly between users. This Chromaway partnership is going to help create the E-Krona with the Swedish Central Bank. This could be a big deal for the blockchain technology company who does work within the private and public sector mainly inside the finance and real estate industries.
Chromapolis is a general-purpose platform used in cases where complex, high-volume data exists such as in gaming but as a development platform with a wide variety of possible initial use case scenarios, a gaming based GTM strategy my fail to reach a broad audience of developers and consumers.
The chromapolis ICO offers a new approach to DApp development that tackles problems present in current blockchain networks. There is plenty room to change its image to target a wider market as the current gaming-focused go-to-marketing strategy does not present a way to raise enough awareness.