Chromia Monthly Update: May 2023

Chromia Monthly Update: May 2023

Welcome to the fifth monthly update of 2023! These updates are provided to track the progress of the Testnet Expansion Phase, while also keeping you informed about all the news from around the world of Chromia.

In the last week, we have dropped some significant announcements regarding Chromia Appnet and the impending staking system update. Read ahead for all of the details - but before you do, check out our official Discord server, Chromia Lounge.

Feature Integration

This section shares important progress on development objectives, and also gives users a heads-up about upcoming changes that may require specific action.

Staking System Update Schedule Set

On May 30th, we posted an announcement on our blog giving stakers one week's notice of the upcoming changes. Here are the main details:

  • On Tuesday June 6th, the portal will give stakers the option to complete the additional delegation step.
  • This gives existing stakers a full week (from June 6th to June 13th) to complete delegation in order to ensure they keep receiving staking rewards on an uninterrupted basis.
  • On Tuesday June 13th, the new rewards contract will take effect. APR will be adjusted to 20% until further notice, and rewards will be earned in weekly epochs.
  • To receive rewards for an epoch, you must be eligible (staked and delegated) for its entire duration.
  • Outstanding rewards earned under the old contract will be paid out after the new system goes live.
  • For all the info, view the announcement here.

Chromia Appnet

  • On May 25th, we shared this blog post about Chromia Appnet, which will see select dapps go live with real assets bridged from BSC and/or Ethereum this summer.  
  • The clusters that support the Appnet will be hosted by select groups of system providers and tailored to the needs of their specific applications.
  • The dapps that run on these clusters are powered entirely by the Chromia tech stack - they are programmed in Rell, use Postchain and employ relational blockchain architecture.
  • These dapps will exist prior to milestones we consider essential features of Chromia’s mainnet, such as native CHR tokens, native billing, and finalized token protocols. We will continue to develop the Testnet in line with our roadmap, and during this time, Appnet clusters will coexist alongside it.

Testnet Objectives and Progress

  • PCU (Precise Configuration Updates) have seen further progress in May and the feature continues to be tested and improved on internal developer networks.
  • Development on FT4 is nearing completion, and the process of writing comprehensive documentation for dapp developers regarding the token standard is underway.
  • Work has begun on a wallet interface that will interact with FT tokens.
  • Limited versions of the H-Bridge will be put into production as part of the Chromia Appnet, which will help inform the final design of the general purpose mainnet bridge.

Provider Network Growth

This section shares progress on the ongoing growth of our provider network.

  • System providers can participate in clusters that run system chains as well as dapp chains, while node providers can only participate in clusters that run dapp chains.
  • The network currently has 5 system providers: ChromaWay, Sunube, Dwellir, NGC and Snowbridge.
  • The network currently has 4 node providers: AM Cloud Sweden, WolfEdge, EXNT and Nocturnal Labs.
  • Discussions are ongoing with additional providers to continue the network expansion.

Ecosystem Development

This section shares news from new and existing projects, announcements from Chromia Innovation Lab and other incubation efforts, and highlights from our mid-month Developer Experience updates.

  • The fifth Developer Experience Team Update was published on our blog. Providing developers with high quality tooling and documentation is critical to building a thriving ecosystem. This month’s highlights included the first version of the Rell Package Manager, a Rell plugin for the IntelliJ IDE, and Postchain API Optimization.
  • On Thursday May 25th, Chain of Alliance launched their Public Alpha 1.0 on Chromia’s Testnet. You can read all about this release and their plans for the rest of the year here.
  • Keen observers may have noticed the new page on our website dedicated to real world assets, or RWAs. Our Ledger Digital Asset Protocol, or LDAP, will play an increasingly important role in the Chromia ecosystem - more information will be shared about this initiative in the coming months.

Raising Awareness

This section shares news related to Chromia marketing. Appearances at crypto conferences, articles published on third-party outlets, ongoing promotions, highlights from the previous month’s content, and more.

  • On May 3rd, we published an article to our blog regarding our first Testnet Upgrade. Read it here.  
  • On May 8-9, ChromaWay’s Todd Miller attended the Dubai Fintech Summit along with our partners from Bloqhouse and to showcase our developments in the RWA space.
  • On May 9th, we published an article about Precise Configuration Updates and why they are key to the future success of dapps on Chromia. Check it out.
  • From May 11-12th, ChromaWay partnered with the Sustainability InnoCenter to participate in the Sustainable Mobility Hackathon, an event organized with the support of the European Union. The event aimed to identify and develop sustainable solutions to mobility challenges.
  • On May 23rd, we published this article highlighting key contributions from our Developer Experience Team over the last six months.

Looking Ahead to June

  • The new staking system changeover begins on June 6th
  • More information regarding Appnet launches
  • Focused development on PCU, FT4, FT4 Documentation and a wallet interface
  • More news and updates as they become available!

About Chromia
Modern society runs on data, and every online service you’re using is built upon underlying databases - ranging from your online bank to music streaming and gaming. Chromia is a relational blockchain - a combination of a relational database and a blockchain - making it easy to develop user-friendly decentralized apps for almost any industry, including DeFi, NFTs, gaming, and more.

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