Chromia Monthly Update: September 2023

Chromia Monthly Update: September 2023

Welcome to the ninth 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.

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.

The new Staking System is live as of June 2023. View this article for all of the key information.

From October 1st to December 31st 2023, the staking platform will dispense rewards at 15% APR.

From January 1st to December 31st 2024, the staking platform will dispense rewards at 10% APR.

View this article for more on APR adjustments.

As of September 27th, WalletConnect support has been added to the staking page.

Testnet Upgrade Ongoing

  • An upgrade to the public testnet is underway. ChromaWay’s node is online, and the other providers will join over the coming weeks.
  • As of this upgrade, Precise Configuration Updates (PCU) are now live. Read more about this feature in this blog post.
  • The upgrade also includes import/export tooling to facilitate dapp migration, auto expansion of clusters via the Directory Chain, and improved node analytics.

Tokens and Bridging
In the summer, we announced the public release of the FT4 protocol and Chromia Wallet SDK. This set the stage of several development tasks which are currently in progress, including:

  • ‘Chromia Vault’, an official wallet that will allow users to create FT4 token accounts.
  • Integration of FT4 and ICCF/ICMF, enabling FT4 transfers within the Chromia Network.
  • Integration of FT4 and the H-Bridge, enabling permissionless bridging from EVM chains.

Recent or Upcoming Roadmap Changes

  • PCU will be changed from ‘Awaiting Integration’ to ‘Done’.

Provider Network Growth
This section shares progress on the ongoing growth of our provider network. System providers participate in clusters that run system and dapp chains, while node providers participate in clusters that run dapp chains.

  • We anticipate that the testnet will be supported by 7 system providers and 5 node providers, with the potential of additional providers being added.
  • As our network grows, it will become more dynamic as providers are added and removed over time.
  • Starting with the next monthly update we will provide method(s) for monitoring the provider list in real-time by querying the network.

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.

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.

  • Real World Assets continue to gain traction throughout 2023. Check out this September 20th article exploring LDAP, the protocol that will bring RWAs to Chromia.
  • Todd Miller (ChromaWay’s VP of Business Development) presented on the topic of RWAs and real estate during the Blockchain Real Estate Summit, a virtual event that took place from September 26-28th.
  • On September 27th, we posted the first of a three part series on our blog. The series explores the benefits of Chromia’s unique approach to blockchain transaction fees. Read it here.

Looking Ahead to October

  • Completion of public testnet upgrade
  • Ongoing development on tokens and bridging
  • 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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