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Chromapolis .. Platform of decentralized application database on blockchain

2018-08-15 05:41 pm | Resource: Crypto Section | No Views : 319

Chromapolis .. Platform of decentralized application database on blockchain Chromapolis is a platform oriented decentralized database oriented approach with a different symbolic economy. It is designed to solve the problems of various dApp platforms, we will talk about today by presenting the project idea, goals and team, and concluding on how successful the idea is in the future.

Project name: Chromapolis
Token symbol: CHROMA
Website: https://chromaway.com/ (website of the parent company ChromaWay, website for Chromapolis coming soon)
White paper: TBA
Hard cap: $15 million (private sale contributors will own 15% of the total token supply)
Conversion rate: TBA
Maximum market cap at ICO on a fully diluted basis: $100 million
Bonus structure: TBA
Private sale / white list: TBA
ERC20 token: Yes (will be switched to native tokens when the mainnet is launched)
Countries excluded: TBA
Timeline: Unconfirmed whether the project will have a public crowdsale at the moment
Token distribution date: October 2018

What is the Chromapolis Project?

Chromapolis is a blockchain platform for decentralized applications (dApps), where the blockchain data is stored in a relational database.
It is designed to solve the problems facing current dApp platforms (eg, ethereum) such as high charges, poor user and developer experience, and lack of security.
Chromapolis aims to distinguish itself from other dApp platforms by offering an innovative fee structure. Because dApps are not built as smart contracts (as in ethereum, for example), users do not need to pay transaction fees to use Chromapolis.
Instead, developers of dApp have the discretion to determine their policy of charging users for each specific application (e.g., free type, subscription, support, in-app, etc.). Chromapolis will also provide familiar tools and processes to help developers build secure dApps more easily than their competitors' platforms.

Main features of Chromapolis

Relational database: Chromapolis will have a fully decentralized development platform where the blockchain data will be stored in a relational database. DApps can quickly retrieve information and perform complex queries without losing performance.
Horizontal Sizing: Each dApp will have its own or multiple mass with expected speeds greater than 500 TPS per sidechain. Total productivity can be increased by adding more nodes / chains.
Mixed Consensus: Chromapolis will effectively use a Byzantine error tolerance (PBFT), spatial signature and installation to enable transactions within seconds.
A unique and flexible language: Rell is a special language built for Chromapolis, which is designed to be easy for programmers to learn and minimize programming errors. According to the team, Rell is up to 7X more compact than SQL Net and is easier to use.
The graph below shows how Chromapolis plans to use many of the blockchain to achieve horizontal scalability. Each node only needs to work with data from the selected blocker and updating one blockchain does not affect the other blockchain.

How advanced is the project?

The project is developed by ChromaWay, a blockchain technology company headquartered in Sweden and established in 2014. The company has been adopting many of the applications of blockchain, on its platform in the last few years, focusing on the real estate and financial sectors. Some of their projects include:
SofiWay: A network based on the blockchain for immediate settlement of direct payment between individuals. It is designed to support E-krona, an electronic currency project created by the Swedish central bank.
The World Identity Center: A comprehensive solution for women in the United Nations that enables the collection of critical individual data on land claims, health records, education, etc.
Green Asset Portfolio: The blockchain Platform for Green Investment Claims and Reporting. The project is funded and developed through the Emerging Markets Dialogue on Finance, commissioned by the German Federal Ministry for Economic Cooperation and Development.
Postchain: A consortium based on the blockchain based SQL. Postchain is currently used by the Swedish Land Registry.
Chromapolis will be implemented at the top of the current Postmain window for ChromaWay. Initial tests have shown that Postchain has demonstrated its ability to meet and exceed 500 transactions per second for each sidechain and 100,000 updates and read-in-second, with confirmation times of approximately 1 second.

Project Action Map

September 2018

Chromapolis testnet is released.

October 2018

Chromapolis MVP is released: Rell compiler, JavaScript SDK, tokens, sidechains, BFT + anchoring consensus, dApp provisioning.

December 2018

Developer tools: Chromapolis IDE, ETH Gateway, Unity SDK, in-memory database, Rell-optimized runtime.

February 2019

Chromapolis v1.0: Decentralized governance, support for business applications, custom DB implementation.

July 2019

Chromapolis v1.1: dApp marketplace, dApp templates, parallel processing, automatic sharding.

Token used and its valued

The Chroma code is a platform token and is used to motivate multiple users of the platform:
Service Providers: Special nodes that produce blocks and hosting dApps. Providers need to get chroma codes to motivate good node behavior; staked symbols are secured and therefore the width of the rolling symbol is restricted. Because dApps require resources and storage accounts, service providers will be compensated by developers to host their own dApps.
Application Developers: Pay for hosting fees for the contract and collect revenue from users to use the dApps they create (developers specify their own fee policies). The DApp brand tokens can also be automatically supported by Chroma codes that should help provide liquidity and create demand for dApps.
Users: Pay in-app fees, transaction, or subscription to use different dApps on the platform.
Chroma should be valued as more service providers join the network because more tokens will be restricted / locked, and thus temporarily removed from the periodic display.
Initially, ChromaWay will select a small group of service providers (according to the white paper, there will be at least 12 providers). In the end, service providers will be able to vote for new service providers and ChromaWay will no longer need to be a gatekeeper. The platform is designed to fit thousands of nodes.

Team

Chromapolis will be supported by the ChromaWay team, which is comprised of at least 10 people. The biographies of ChromaWay’s key team members are summarized below:
Henrik Hjelte, CEO – A serial entrepreneur with more than 25 years of experience. He is the current CEO and co-founder of ChromaWay and the CEO and founder of stix.to. He was one of the creators of ChromaWallet, an open-source colored coin wallet. He obtained his Master’s degree in Business Administration and Economics from Uppsala University in 1996.
Alex Mizrahi, CTO – Over 20 years of experience with expertise in programming, colored colors implementation for Bitcoin, smart property and distributed contracts applications. He is the current CTO and co-founder of ChromaWay where he led the development of ChromaWallet, ChromaNode, etc. Prior to ChromaWay, he headed the Colored Coin project (http://coloredcoins.org/). He has written several academic publications with Charlie Lee, the founder of Litecoin. He obtained his Master’s degree in Applied Mathematics from Donetsk National University in 2005.
Or Perelman, COO – Over 10 years of experience with expertise in patents, internal, IP, and open-source law. He is the COO and co-founder of ChromaWay where he was involved in creating ChromaWallet with Henrik Hjelte and Alex Mizrahi. He obtained his LLB from Netanya Academic College in 2014.
Advisory Board of Chromaway (not Chromapolis) includes Charlie Lee, founder of Litecoin; Vinny Lingham, co-founder and CEO of Civic, Correy Voo, former CTO of UBS and the president, Professor Ryan Orr, co-founder and CEO of Chronicled, Richard Brown, CTO of R3CEV, and others.
Advisors supporting the Chromapolis project include Guy Corem, President of Daglabs (an R&D company focusing on DAG protocols), Danny Yang, CEO of Blockseer (a blockchain analytics company), Asse Sauga, a blockchain expert, and Yiseul Cho, a venture partner of FBG Capital.

Opportunities

The project has a strong team and consultants from famous veterans. The team has participated in the digital currency project since 2013.
With Chromapolis, developers of dApp enjoy freely defining their pricing models, which better meet different usage situations. This provides greater flexibility and better user experience than most competing Blockchain protocols, which are set on a single payment model.
Chromapolis is unique among the competing Blockchain protocols in that it uses a relational model where data can be easily accessed without loss of performance. Because the platform is database-centric, it may be more suitable for applications that require extensive data.
Chromapolis uses horizontal scaling where each has its own dApp or multiple Blockchain with speeds expected to be more than 500 TPS per sidechain.
Anyone who wants to run a node can choose which dApps they are interested in and synchronize only the corresponding Blockchain data.
Chromapolis is not built from scratch. It is developed by a company with a proven track record in the Blockchain and is based on the Postchain Framework, a database of a consortium based on the Blockchain, currently being used by the Swedish Land Registry.

Interests

Initially there will be only a few providers / nodes that will be selected by ChromaWay, so it will actually start as a model for central development and governance to some extent. Ultimately, existing service providers will be able to vote for new service providers. The goal is to get thousands of service providers, but it is uncertain how long it will take.
There is no alpha, GitHub or MVP available yet. The testnet is scheduled to be released in September 2018 and will follow the mainnet MVP in October 2018.

Conclusion

To flipping: a, Chromapolis may be the project with the highest market awareness at the moment. The maximum US $ 15 million is reasonable for this type of project, taking into account the current ether price. Only 15% of codes are sold, which is not optimal but also provides an incentive for the team to perform well.
The roadmap is fairly short, with a testnet exit in a month, and a mainnet in two months.
A good amount of TGE predefined codes is opened, making the initial offer a higher level and more sustainable than some recent projects. This reduces the volatility of forward tokens during event opening.
If the project will perform an ICO (uncertain at the moment), we believe that there should be good demand for codes during and after the ICO even during the current distressed market situation.
For a long-term contract: a, the team has extensive experience in the field of blockchain, where he has worked on digital currencies since 2013. In addition, they are well connected in the development of blockchain, and understand the pain points related to developers.
We believe that the project brings something unique (a relational database and a flexible pricing mechanism) to the table, which can be of great value if the team is able to withdraw what they have promised.
Therefore, we believe that Chromapolis has a good chance of long-term success. We may review our evaluation when we see the testnet features, which are due to be released in September 2018.

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