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ChromaWay is a blockchain technology company.
Blockchain pioneers
We created the first protocol for issuing tokens on the Bitcoin network. We used it to issue fiat currency together with LHV bank in 2014, and then to crowdfund startups on the Funderbeam platform.
We designed a blockchain agnostic client-side validated smart contracting platform that put privacy first before privacy became a hot topic in blockchain. We have used it to support internal leasing in large organisations, issue financial instruments, and to allow government agencies to issue licenses digitally. In 2018 we used it to demo a live property sale together with the Swedish Land Registry.
Technology by us
We are the creators of relational blockchain, a new blockchain architecture which combines the power and flexibility of a relational database and the fault tolerant decentralised security of a blockchain.
We built Postchain, a private blockchain or consortium database using the relational blockchain architecture. Postchain has registered property on three continents, accelerated the growth of green finance, and formed the basis for a proposed national e-currency.
Relational blockchain also powers Chromia, our public platform for decentralized applications. Relational blockchain allows Chromia to offer a user and developer experience which no other blockchain platform can match.
The founding story
ChromaWay was founded in 2014 to commercialize Colored Coins, the open source project founded and led by ChromaWay CTO Alex Mizrahi. Colored Coins was the first viable way to issue arbitrary digital assets, "tokens", on the Bitcoin blockchain. This was arguably the start of "blockchain 2.0", uses for blockchain beyond cryptocurrencies.
Alex founded ChromaWay together with Or Perelman (COO), Iddo Bentov, and Henrik Hjelte (CEO). Since then ChromaWay has been a pioneer in the blockchain industry. Colored coins was used to issue Euros for LHV bank, and shares for crowdfunding startups with Funderbeam. ChromaWay's relational blockchain Postchain was developed to index Colored Coins, but turned out to be perfect for enterprise private blockchains. Postchain has been used by blue chip companies, government agencies, and groundbreaking applications within green finance.
Our head office in Stockholm is situated in one of the most emblematic buildings of the city, the Central Station.
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Market Competitive environment
Characterized by the presence of several major well-established players, the global Market of Database Management System (DBMS) appears to be highly competitive. The global Database Management System (DBMS) Market is anticipated to accrete to USD 63 Billion by 2022, at a striking CAGR of 8 % between 2016 and 2022.
Competitors in the traditional market:
Oracle (market cap $ 194,3B);
Microsoft (market cap $ 847,9B);
Team see as competitors:
EOS (raised $ 4 bln in ICO, market cap $ 5 bln, ROI USD 5,61x);
Ethereum (raised $ 0,5 Mln in ICO, market cap $ 36,6 bln, ROI USD 1478x);
Cardano (raised $ 63 Mln in ICO, market cap $ 3,1 bln, ROI USD 49,8x);
Qtum (raised $ 14,8 Mln in ICO, market cap $ 478,6 Mln, ROI USD 24,9x);
Technological advantages:
Relational programming model with powerful query capability;
Decentralized application engine with high I/O throughput;
Separate blockchain for each application (sharding);
Inter-blockchain asset transfer (sidechains) – good for integration games into each other;
Hybrid consensus (BFT + stake + anchoring);
New safe DAPP programming language (Rell);
Upgradeable smart contracts.
SOCIAL ACTIVITY
The project popularity in the social networks and discussion forums
The project is detected on the radar of the next influencers: ICO Drops, Ian Balina, Wolf Crypto, MMCrypto, Lendex, DiddyCarter, Sergio, OhHeyMatty, CrushCrypto, Crypto Briefing, Crypto Calibur, PicoloResearch, Shin Chan.
Facebook: 366 followers, the average number of likes per post is 2, the average number of comments per post is 0, user activity is low.
Twitter: 2,8k followers, average number of likes per post is 10, average number of retweets per post is 3, average number of comments under the post is 2, user activity is low.
Instagram: 165 subscribers, average number of likes per post is 10, average number of comments under the post is 1, user activity is low.
NOTE:
Project has received controversial criticism recently. Some of influencers re-scored the project lower (for example ICO Drops turned their interest rate to Medium), while adviser Benn Godenzi is putting controversial statements on the internet.
CONCLUSION:
Project has a good technological base with strong team and advisors, who have many years of experience in the blockchain development. Core technology of the product already was successfully tested by some of the strategic partners. At the same time project was re-scored because of the new (scandalous) information about huge allocation for Ian Balina ($ 2,5M) and because the number of funds raised through pools became high (this factor make chances of token price dumps higher in the future).
Chromaway, had a call with a team today, very interesting, on my radar. It's kind of a hybrid between a blockchain and a database, alright, so Chromaway is legit.
ChromaWay, the parent company of the platform Chromapolis, aims to create a platform allowing decentralized applications with scaling and ease of development in mind.
Main features of the Chromapolis platform are:
- Uses a relational model so that the data can easily accessed by an application programming interface (API) and indexed and queried without performance degradation (using Rell, a query language similar to SQL).
- Scaling is solved horizontally so that each dApp gets its own blockchain, run by its own nodes. Expected transaction time of >500 TPS per sidechain.
- Uses the PBFT consensus algorithm (hardened by anchoring), a relaxed version of BFT that can handle more fault tolerance and allows transactions to be confirmed in seconds. When the number of blockchain’s validator nodes is 3f+1, a block must receive 2f+1 “votes” to be confirmed.
- As dApps are not built as smart contracts, Chromapolis does not charge transactions fees, but instead “collects fees from a dApp as a whole”.
Chromapolis hardcap is $15M for 15% of tokens sold to partners. Platform is being developed by ChromaWay, a technology company operating since 2014 in Sweden, working on blockchain platform with public and private sector actors and focused on real estate and finance.
We believe Chromapolis is one of the most interesting projects we have encountered, and give it a rating of 89.7% — top rating in our blockchain project review sheet.
