Reading Time: 4 minutes

What is Chromaway?

Chromaway is a blockchain company which was incorporated in the year 2014. Headquartered in Sweden, Chromaway has created a powerful smart contract platform Chromapolis to overcome the pitfalls of traditional blockchains and provide a platform for greater scalability of dapps. Chromapolis leverages Chromaway’s relational blockchain technology called Postchain to achieve scalability and smoother integration with current IT systems.

In term of scalability, Chromapolis will have both horizontal and parallel scaling. Every dApp running on Chromapolis will have its sidechain and therefore will not impact other dApps. Individual dApps will also be able to make use of sharding for additional sidechains, thus having no issues with scaling.

Problem

Businesses have been using relational databases for decades such as SQL. The adoption of blockchain has been slow primarily because enterprises do not know how to effectively deploy blockchain technology.

Solution

Using Chromapolis, businesses can now deploy blockchain applications using the SQL DBMS (Data Base Management System) and enjoy the benefits of a decentralized immutable ledger.

The unique thing about Chromapolis is that it is based on the relational database model of blockchain which has existed for decades in the enterprise space. This will make the adoption of blockchain applications easier compared to other platforms.

The Postchain technology under Chromapolis combines the immutability of blockchain with Atomicity, Consistency, Isolation, Durability (ACID) properties of the SQL database. Chromaway invented a new programming language for its platform and is estimated to be far efficient than SQL.

Competitors

Chromaway’s Chromapolis will face competition from already existing dApp platforms such as Ethereum, EOS, Lisk, Neo, Qtum, Icon, etc. It will be interesting to see how the promise of relational blockchains will compete with established public blockchain networks, particularly Ethereum.

Partnerships

Chromaway’s list of general partners includes Landshypotek Bank, Tech Mahindra, Stockholm Green Digital Finance, SBAB Bank, Telia, LHV Bank, Lantmäteriet and Funderbeam.

In addition to the list of general partners, Chromaway has also been working with multiple players in public and private sector across the globe.

Chromaway partnered with European fintech company- Sofitto on a proposal for the development of e-currency, which is being evaluated by the central bank of Sweden. The partnership leveraged the power of Sofitto’s blockchain hardware with the efficiency of Chromaway’s Postchain.

Chromaway also worked to create The Universal Identity Hub (UIH) – a blockchain solution for United Nations Women in partnership with Abt Associates and Cadasta Foundation.

Chromaway also collaborated with Stockholm Green Digital Finance to create a platform for verifying and validating companies for eco-friendly investment claims, known as the Green Assets Wallet.

Team

  • Henrik Hjelte : Co-founder & CEO of Chromaway. Hjelte has more than 25 years of experience as a developer and a decade-long experience as an entrepreneur. Hjelte has also worked as a senior consultant in finance and IT firms. He holds a Master’s degree in Economics from Uppsala University.
  • Or Perelman : Co-founder & COO of Chromaway. Perelman was previously the co-founder of Safebit bitcoin wallet. He has extensive blockchain marketing experience and holds a degree in law from the College of Netanya.
  • Alex Mizrahi : Co-founder & CTO. Mizrahi has authored several papers on Bitcoin and led the open source colored coins project from 2012 which demonstrated that bitcoin can be used to transfer any asset. He has a Master’s degree in applied mathematics from Donetsk National University.
  • Jörgen Modin : Chief solutions architect at Chromaway. Modin is a systems analyst with a background in supplying collaborations workflows for researchers and architecting bitcoin applications.
  • August Botsford : Technical Director at ChromaWay. He has a Master’s degree in information security from Stockholm University.

Advisors

  • Rain Lohmus: Lohmus is the co-founder of LHV Bank and chairman of the Supervisory Board at LHV Capital.
  • Ryan J. Orr: Orr is a serial entrepreneur and co-founder of Zanbato, Crosscoin VenturesElastic Path, and Chronicled.
  • Charlie Lee: Lee is the founder of Litecoin
  • Richard G Brown: Brows is the Chief Technology Officer at R3
  • Vinny Lingham: Lingham is the co-founder & CEO of Civic
  • Correy Voo: Voo is the ex-CTO at UBS and currently a General Partner at 01 Ventures
  • Yiseul Cho. Cho is the CEO & Founder at Perceptra, a partner at FBG Capital and organizer of Hyperledger London.
  • Danny Yang: Yang is the founder of BlockSeer and Maicoin.

Token Information

Token Sale: Not announced

Symbol: CHROMA

Token Use: Utility

Token Distribution

  • Private Sale: 15%
  • Marketing & Airdrop: 30%
  • Reserve: 40%
  • Team: 10%
  • Market Making: 3%
  • Core Node Compensation: 2%

Communities

  • Facebook: 586 followers
  • Instagram: 232 followers
  • Twitter: 4573 followers
  • Linkedin: 864 followers
  • Telegram: 6151 members

News

For more News and Updates check Here

Verdict

The concept of relational blockchains is both innovative and convenient for enterprise use and therefore can find traction. The partnerships that Chromaway has will certainly help the company in further expanding. The thing to watch out for is how Chromapolis stacks against popular dApp platforms like Ethereum, considering the fact that there are already a small number of dApp users across the globe.

Important Links & Contacts

By Vishal Chawla

Rating

8.8

PLAN

10.0/10

TEAM

8.0/10

MARKETING

8.0/10

MARKET GROWTH

10.0/10

COMPETITORS

8.0/10

Pros

  • A novel use case of relational blockchain built for enterprise adoption
  • Big partnerships already in place

Cons

  • Centralized governance model
  • No clear roadmap

If you liked this article
please click "Like!".

Follow on Twetter !

Leave a Reply

  Subscribe  
Notify of