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Average rating : HIGH
ChromaWay is a blockchain technology company. Since 2014, we have been developing and refining our industry-defining blockchain technology platform. We work with public and private sector actors to build and support applications on our platform, mainly around real estate and finance.
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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.see more
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.see more
The Chromapolis ICO offers a new approach to dApp development that addresses the shortcomings present in many current blockchain networks.
While still at an early stage, the Chromapolis ICO possesses indicators that point to a solid project, backed by a team with extensive experience developing blockchain products. With prior experience deploying blockchain to fields such as finance, the current gaming-focused go-to-marketing strategy may not present the most compelling road to adoption.
That said, at such an early stage, there is plenty of room for repositioning if necessary.see more
Chromapolis is a difficult project to rate as due to the stealth nature of the project; there is still much to be confirmed. However, the project has some obvious strong points such as its technical base which sees dApps on the network get their own blockchain which are run by their own nodes. This high speed and low fee platform is also highly scalable and allows dApp providers to arrange their own compensation methods. In addition, the Chromapolis relational model allows data to be easily administered and accessed by API and the project also makes use of its own unique language Rell.see more
In conclusion, Picolo Research presents a ‘Buy’ rating on Chromapolis. The project offers a unique proposition, enabling enterprises to adopt blockchain technology without eradicating existing legacy systems. The team has been in existence since 2014, with a wealth of experience developing blockchain projects in the private sector. Chromapolis testnet is a month away with the mainnet launching in Q1 2019.
Overall, for the reasons listed, Picolo affirms its rating on Chromapolis:
• Helping existing businesses to adopt blockchain without disrupting current legacy systems that have been in place for decades
• Testnet launching in Sep 2018, which is relatively soon as compared to other projects
• Attractive token economics mechanism, justifying a dynamic fee model which could help accelerate adoption on the demand side. On top of this, there is a deflationary mechanism in place.
Not withstanding the above, Picolo acknowledges that Chromapolis has several limitations on being truly decentralised, and when they will achieve this is unknown. In addition, more established competitors such as IBM could easily enter this space. However, we believe that the market is big enough to accommodate a few players.
In light of the preceding, we recommend a ‘Buy’ rating on Chromapolis for investors seeking both short and long-term exposure.see more
Use Case: Platform for smart contracts in Real World
Remarks: Information from third party, awaiting more information.see more