When it comes to launching a new crypto project, many people have certain expectations. They expect a whitepaper, a marketing campaign to attract investors, private and public sale rounds, and a Token Generation Event (TGE), among other things. However, there are several other ways that a crypto project or traditional business can leverage blockchain to improve their users' experience. Chromia's unique combination of properties and features can open up various possibilities that have been largely unexplored until now. Let's take a closer look at some possible use cases that Chromia can fulfill in the future.
Decentralized Relational Databases
Despite decentralization being at the heart of cryptocurrency, many crypto projects still rely on centralized services like Amazon Web Services (AWS) to store their application and user data. Chromia's relational blockchain architecture makes it uniquely suited to providing decentralized data storage solutions that are efficient and affordable.
The Chromia team is currently networking with various projects to explore the possibility of using decentralized databases as part of their design.
We believe there is an underserved market that Chromia can tap into by offering "tokenless dapps" to businesses. Here's how it would work: a business wants to offer their customers a blockchain-based service, so they pay hosting fees to the Chromia network and build a dapp that can be accessed by anyone who receives a special code after purchasing one of their products. This code grants the person access to the dapp, which can be used without any token and even without paying gas fees. Our architecture makes this possible, and can deliver decentralized applications that feel very familiar to non-crypto users.
Tokenless setups can also be used to onboard new users to crypto projects. For example, a certain section of a blockchain game can be ‘free-to-try’, only requiring gas payments and the use of in-game cryptocurrencies after progressing past the free section. This lowers the barriers to entry and makes it easier to bring new users into the crypto space.
Chromia Originals protocol will store complex metadata, and even be embedded with programming logic. The result is a design standard that provides developers and creators with greater flexibility.
In addition, system provider nodes will be able to store files (images, audio clips, etc.) associated with the NFTs. Since these files can be stored across multiple nodes on the network, there is no risk of a single failure 'bricking' your non-fungible assets.
On Chromia, the entire package (token + metadata + associated files) can live on-chain. It will even be possible to migrate NFTs from other chains onto Chromia in order to fix centralization flaws in their initial design.
Our ecosystem partners at My Neighbor Alice have been experimenting with a protocol with the working name "FileHub".
FileHub is a feature that is currently in the prototype phase. It is a decentralized solution for storing large files on the Chromia blockchain. Here's how it works: files are separated into several small pieces, sort of like a puzzle. These pieces are then stored on multiple nodes, adding redundancy while also distributing network load for improved scalability. The protocol also creates an index block which acts as a set of instructions for rebuilding the file.
In a fully developed state, FileHub or a new implementation inspired by it could be used as a storage solution for both Chromia-based projects, as well as crypto projects from other blockchains.
In the crypto world, people's expectations have a lot to do with the possibilities they can imagine. We are running the Innovation Lab and various incubation efforts designed to attract projects to build directly on Chromia and offer the traditional "product and token" package. However, there is a whole world of possibilities that revolve around existing crypto projects decentralizing their backend, and businesses offering one-off decentralized applications targeted at casual users.
This is exciting, because it means Chromia’s addressable market is massive - without these applications, the only way to bring more dapps and users to the network is to lure existing crypto users. With these applications, our user base can be expanded to include people and projects from across the cryptoverse and beyond.
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.