Thursday, September 23, 2021
Chromia

Chromia

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Similar to how tokens are utilized in Ethereum to pay transaction fees and compensate block producers, Chroma tokens are utilized in Chromia to compensate block-producing nodes. CHR is utilized by dapps to pay hosting fees, thus compensating the nodes. It is used as a "standard" currency throughout the Chromia economy, as dapps can collect it as fees, or use it as reserves to peg their top 10 coinmarketcap own tokens, etc. As said in the white paper 1,000,000,000 CHR is the maximum variety of CHR tokens that can ever be minted. However, the circulating supply obtained lowered after the burn of 22M CHR in May 2020. Current circulating supply is taken from the smart contract as of yesterday.

By codifying the rules and decision-making processes of a corporation, developers can remove the need for any human intervention. Consequently, DAOs operate as community-led efforts that automate selections and facilitate cryptocurrency transactions across the network. A large proportion of the initial supply was distributed via a Binance Launchpool, with 5% of the total supply allocated to individuals. In addition, 6% of the whole supply was sold in a non-public sale and 2% was bought through a public public sale. Read about Ocean Protocol — one of the most popular oracle networks for DeFi products.

It is used to make sure that suppliers have a stake in the Chromia ecosystem thus offsetting incentives to collude. The number for staked tokens is taken from the smart contract as of yesterday. CHR is used to ensure that suppliers have a stake within coinmarket cup the Chromia ecosystem thus offsetting incentives to collude. Chroma is the native token designed to empower the Chromia platform and foster a mutually beneficial relationship between builders, users, and investors.

CHR is used as a "standard" currency within the Chromia economic system, as dapps can collect it as fees, or use as reserves to peg their very own tokens, etc. The CHR token is designed as a utility token that can be used inside the Chromia platform. The information offered on this website is solely for info purposes solely and doesn't represent investment advice whatsoever. That constitutes the token supply limit, which implies that no tokens might be created in the future. The following pie-chart illustrates the preliminary CHR token distribution. Chromia has several special Chroma token accounts that are used for system-wide purposes.

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