Chromapolis ICO Overview
The Chromapolis ICO and token sale are raising funds to launch a full-stack decentralized development platform and protocol. As a full-stack development framework, Chromapolis supplies developers with all of the necessary layers to build complete applications, integrating the flexibility of relational databases with distributed ledger technology.
Chromapolis is developed by ChromaWay, a Swedish blockchain firm that has been strongly involved in the industry since 2014. There is an indirect, but notable, relationship between ChromaWay and the development of an e-currency by the Swedish National Bank.
Chromapolis ICO Value Proposition
Users of existing distributed networks like Ethereum ostensibly must pay for every interaction that occurs on a given dApp, in proportion to the resources required for each transaction. This results in a precedent where dApps cannot experiment with alternative models for data and computational resource management.
One such example is the “freemium” model, which dApps built on Ethereum cannot exploit. Chromapolis addresses this issue through the introduction of a new model, delegating resource management to the level of individual dApps. The fees which are collected to maintain nodes hosting dApps are paid by the dApp providers, and not end-users.
The latitude offered through management of computing and storage resources at the individual dApp level opens up a variety of fee models which are not possible on other blockchain networks.
Further toward the aim of expanding dApp development possibilities, Chromapolis utilizes a relational blockchain in conjunction with a hyprid consensus protocol and innovative developer-oriented features to enhance the experience of both dApp users and developers. The relational model of the blockchain allows for data and application state to be stored in a relational database.
Each dApp within the Chromaplis ecosystem possesses its own sidechain, facilitating both horizontal scaling while allowing applications to exist in isolation and therefore, operate in a manner that does not impact other dApps running in parallel. dApps requiring multiple execution threads can utilize sharding for inclusion of additional sidechains.
Chroma tokens provide the mechanism for incentivization within the Chromapolis ecosystem. Nodes must stake a certain amount of Chroma tokens to participate in the network. The unique approach Chromapolis takes toward the token economy of the ecosystem means it is largely dApp providers themselves who reward nodes for participation. dApps which deploy native tokens have the option of backing their tokens with Chroma, to increase liquidity and allow for easier exchange of value between other dApps within the ecosystem.
Chromapolis ICO Team
Henrik Hjelte (CEO) is the CEO and Co-founder of parent company Chromaway, developing advanced blockchain solutions for clients in the finance and government sectors. Along with his Co-founders, he was responsible in 2012 for the creation of ColoredCoins, a pioneering way to use Bitcoin infrastructure to transfer any asset that holds value, including gold, fiat and property.
Or Perelman (COO) has an extensive background in the cryptospace, beginning in 2011 when he co-founded and developed Safebit, a multi-chain wallet and collaborative platform for crypto asset management. Or went on to co-found ColoredCoins, and also served a brief stint as CMO with bitBlu, a crypto portfolio app. He resumed his work with his partners at Chromaway in 2013, serving as COO until present.
Alex Mizrahi (CTO) has decades of experience as a full-stack developer. From 2000 to 2012, Alex worked as a software developer on a myriad of projects in fields such as 3D graphics, machine learning, and mobile software. In 2012, he joined up with Henrik and Or to develop ColoredCoins and moved on to co-found Chromaway, where he now serves as CTO.
Chromapolis ICO Strengths and Opportunities
Chromapolis introduces relational databases to blockchain to tackle the increasingly complex data structures of decentralized applications. A relational model also allows Chromapolis to leverage the power of SQL database management systems, a staple mechanism for data management with a history of proven usage. Sophisticated query planning, advanced data structures and caching capabilities allow for expedited code queries.
As relational databases are a common component in software engineering, the familiarity should, in theory, ease the transition for developers working on decentralized applications. Performance issues from individual querying instances are isolated to dApp sidechains, so that slow queries do not affect the entire network.
With Chromapolis, users pay fees indirectly and are therefore spared the pay-per-transaction model that is nearly universal in the blockchain space. As an alternative, dApps built with Chromapolis pay make direct payments to noders on a daily basis, depending on the amount of computational resources and data volume consumed by the users.
This structure unlocks a variety of options for dApp developers themselves to deploy more user-friendly payment methods, such as through a subscription model, freemium offering with in-app purchases, or other structures specifically adapted to game-play scenarios.
Such flexibility presents an appealing feature for developers and users alike, as dApps built on Chromapolis can offer payment models that are more familiar to the average consumer.
Chromapolis ICO Weaknesses and Threats
Chromapolis is positioned as a general-purpose platform suitable for most types of dApps, especially cases that require the capacity to handle high-volume, complex data sets. Gaming is one particular use case where the capacity to handle complex data sets opens up the possibility for hosting entire games on the Chromapolis network. The oft-repeated example of Crypto Kitties still serves to demonstrate the current impracticality of hosting gaming on the blockchain.
To demonstrate the true capacity of Chromapolis at handling complex data-sets onchain, the go-to-market strategy of the project will initially target blockchain gaming. Chromapolis plan to develop a Massive Multiplayer Online Game as a way to showcase the expanded range of possibilities offered by the platform.
As a development platform with such a wide variety of possible initial use case scenarios, a gaming-based GTM strategy may sell the project short by failing to reach a broad enough audience of consumers and developers alike.
A dApp competition or similar strategy that harnesses the immense creativity of the developer community could provide a much more expansive pathway toward simultaneously showcasing a wide variety of use case scenarios for Chromapolis, especially considering the reach and strength of the parent ChromaWay company.
The Verdict on the Chromapolis ICO
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.
We have been in discussions with the Chromapolis ICO team and our ratings are based on conversations and information that they have asked us to keep confidential. We should also explain that the project is not actively marketing at this time, therefore we cannot share a website or other materials. Please note that our review does take into consideration the token data that has been shared with us, but we have been specifically requested not to share the token metrics that we have seen at this point. We will share them as soon as they are made available by the team.
Despite being a Top 10% rated ICO, we have decided not to participate.
Learn more about the Chromapolis ICO from our Telegram Community by clicking here.
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The Crypto Briefing Top 10 stamp is awarded to ICO projects that we rate in the top 10% of all projects.
CHROMAPOLIS ICO REVIEW SCORES
The Chromapolis ICO presents some interesting ideas, which don’t entirely seem to add up… yet. The core notion of introducing relational databases should, in theory, appeal to mainstream developers who have not switched to blockchain – which in turn may develop a larger community, with the endgame of a broader ecosystem of users and developers. It worked for Apple. (This would also help prevent network congestion from mega-dApps, and introduce more flexible payment options.) Their go-to-market strategy, while still formative, may rely too heavily on one subset of users – gaming is a tough market and although it can pay off in a big way, perhaps gamification should not be the only strategy used to advance Chromapolis’ interesting take on dApp development.
Progress To Date……………………8.0
Community Support & Hype…..8.8
Price & Token Distribution……..5.1
- Core team has exceptional experience in blockchain development
- Introduction of new resource management models to blockchain
- Hype level considerably high for early-stage project
- Go-to-market strategy may not prove effective
- Details of proposed token economic model still vague
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