CHRUSDT
Chromia / Tether USD
crypto

Chromia (previously Chromapolis) is a Layer-1 blockchain that is also an Ethereum Virtual Machine (EVM) compatible Layer-2 solution for Ethereum and the Binance Smart Chain. Chromia is designed to achieve three goals: allow dApps to scale to millions of users, improve the user experience of dApps to match those of centralized applications, and create familiar paradigms that allow developers to build secure applications. Chromia was developed to be a blockchain that is a shared database. ChromaWay, the company behind Chromia, first developed Postchain, the first open-source relational blockchain. Chromia, and at its core Postchain, was developed to be a response to the issues, like speed, efficiency, and interoperability, that plague other blockchains. Using SQL as a base, ChromaWay then developed Rell, a blockchain and database language. On launch, ChromaWay will select a diverse pool of providers, which control the nodes, to run the Chromia software. ChromaWay believes that they will be able to make fair and diverse decisions to confirm that each provider is distinct and unique. Then, as the system matures, providers will be able to add new providers and vote, so that ChromaWay does not act as the gatekeeper. The consensus mechanism is discussed in depth at another point in this profile. In the whitepaper, Chromia's team has set the following goals for their relational blockchain: -Confirmation Time: ~1 second -Transaction Time: 500 TPS for each sidechain. -IO Capacity: 100k updates and reads per second.