A blockchain platform for dApps based on a relational distributed database
Full story available at https://coinsolidation.io/reviews/chromaway/
Even the company exists for several years, a recent Chromapolis project started to gain hype just recently. There are no marketing, whitepaper, webpage or social channels and most of the info is passed P2P way. That’s just the way how crypto seed rounds are done in 2018.
The Company — ChromaWay
ChromaWay started with the pioneering work done by Alex Mizrahi on original colored-coins since 2012 when he made the first implementation. Alex led the colored coins open source project until 2014 when he, together with Or Perelman, Iddo Bentov and Henrik Hjelte, formed Chromaway.
Since 2014, it appears that ChromaWay has been busy developing several products without raising money from a single ICO. They have SofiWay, a network for immediate settlement of payments which supports the development of E-krona, a digital currency project launched by the Swedish Central Bank. Another product is the Universal Identity Hub, a project that aims to connect women and families living in danger.
The platform — Chromapolis
Chromapolis will build their own blockchain where each new dApp will have its own sidechain with an expected throughput of 500 tps and dApps will pay hosting fees and will have to peg Chromapolis tokens. There are no transaction fees in the network but nodes that are used to run Chromapolis chain will get rewards in Chromapolis tokens.
Chromapolis dApps will be written in Rell, a programming language developed by ChromaWay which should easily be adopted by those who are familiar with SQL.
Distributed database — Postchain
Chromapolis proposes a blockchain where data is organized as a relational database which can be indexed, meaning it will dramatically improve lookup speed and overall throughput for dApps built on it. It will be deployed on top of the existing Postchain database framework, the first implementation of a consortium database uniting relational database performance and blockchain decentralized characteristics.
A Postchain is the first implementation of a consortium database. Postchain claims to be the first true consortium database that is: 1) SQL based; 2) Secure; 3) Flexible; 4) Easy to Use; 5) Tested; and lastly, 6) Enterprise Driven. A consortium database that is effective, safe and enterprise-focused could have huge implications in many pretty much every industries and market in existence today.
- 1 000 000 000 tokens (ERC20 initially with further swap)
- 150 000 000 tokens for sale
- rumors that hard cap is between $13 500 000 and $18 000 000
- rumors that token price is $0.09-$0.1
The founders of ChromaWay have been developing blockchain applications for a very long time.
Henrik Hjelte — CEO, 25+ years as a developer and 10+ years as an entrepreneur. Ex. Senior consultant in Finance and IT. MSc Economics from Uppsala University.
Creators of ChromaWallet, the open-source colored-coins wallet. Colored-coins are a way to reuse the bitcoin…www.linkedin.com
Or Perelman — COO, is interviewed in the first ever TechCrunch article about Bitcoin (mind you, this is 2011). Bitcoin expert focused on marketing and growth. Co-founder of Safebit, an early user-friendly bitcoin wallet. Extensive Blockchain marketing experience and contacts. Law (LLB) degree from the College of Netanya.
ChromaWay was founded in 2014 and is an early pioneer of what is now dubbed as "blockchain 2.0" technology. Combining…www.linkedin.com
Alex Mizrahi — CTO, blockchain pioneer: created first token protocol (colored coins, Vitalik also worked on it), also made the world’s first token wallet and decentralized exchange protocol in 2012. MSc in applied mathematics from Donetsk National University graduated with honors. Author of several academic papers about Bitcoin. Also known as “killer storm”.
I'm leading the development of ChromaWay colored coin platform. (ChromaWallet, ChromaNode, blockchainjs…www.linkedin.com
Todd Miller — VP Business development — Sr. manager at Fannie Mae for 4 years ($ 1.6B public company); 4 years at HP and 5 years at PwC
ChromaWay's innovative software utilizes the blockchain framework, smart contracts, and workflows to facilitate secure…www.linkedin.com
These guys have been publishing research on blockchain technology since 2011 — this team is the real deal.
ChromAway is a company with 15-20 employees at the moment and they are hiring more people.
Besides having an experienced and proven team, Chromaway advisors/investors include some of the big names from the crypto world like:
- Charlie Lee (Litecoin)
- Vinny Lingham (Civic)
- Correy Voo (ex CTO at UBS, president and chairman at the Open Data Center Alliance, and global head of applied business and strategy at Bank of America)
- Yiseul Cho (Venture partner FBG and co-founder of Hashed)
- Guy Gorem
- Danny Yang
- Asse Sauga
The public version is not out yet
Chromapolis testnet is not yet running and is planned for September, just before their TGE and the MVP release. This will immediately be followed by a release of the developer tools, with the full platform release in Q1 of 2019. The short roadmap is a good sign that the team is developing the project for some time now.
Chromapolis website, together with public WP and TG group is coming soon
The project is still in stealth mode and is just starting to get the hype in the crypto circles. Names behind the company are considered to be blockchain pioneers and together with well-known advisors, they are the main reason why the hype is building up with minimum information available. There are still many questions that need to be answered and hopefully, it will become available in the following weeks. Until then a deeper insight into the project is not possible.
We are keeping an eye on the project as there may be something more about the project at such an early stage.
Coinsolidation is an association of researchers and different industry specific experts, voluntarily united to analyse the upcoming projects in the crypto technology space. Stay in touch by following us on our Telegram channel or subscribe to our Medium publication. Visit our webpage for the full story http://coinsolidation.io/