Chromia (CHR) Project Review

About

Intro

In another edition of our project reviews, we decided to have a look at Chromia.

So what is the deal with Chromia? In this review, we will dig deep into this project and give you all the answers. We took an in-depth look by examining the project, its team, tokenomics, and community and price action.

If you wish to skip to the summary to see the matrix score and rating, click here.

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Overview

Chromia is a 2.0 blockchain platform for decentralized applications, conceived in response to the shortcomings of existing platforms and designed to enable a new generation of dapps to scale beyond what is currently possible.

It is is a general-purpose platform which is suitable for almost all kinds of dapps. It is particularly well suited to cases requiring high I/O capacity or involving management of complex data sets. Massively multiplayer online games (MMOGs) are an example of such a case. Blockchain gaming is becoming increasingly popular, but MMOGs are currently out of reach because no existing blockchain platform can support them.

Chromia is capable of hosting entire worlds in the blockchain, making sure that they evolve according to predetermined rules and ensuring that no one can cheat. We believe that implementing a MMOG will be the best way to showcase the capabilities of Chromia.

From Games to Enterprise, Chromia makes it easy to develop mainstream applications, and some of these are:

One of the examples of the games developed on Chromia is Mines of Dalarnia. This is a free-to-play blockchain action-adventure platform-mining game where the player controls a character and guides them through a level (plot), mining through various blocks of earth, to discover and collect minerals of multiple rarities.

Aside from games, there are also several other dapps on the Chromia blockchain, for example, the Green Assets Wallet, which is a global trust platform that accelerates impactful asset allocation.

About Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Working platform Incentive to build on CHR over ETH will take time Keep growing adoption
Growing adoption N/A N/A
Several dapps built on CHR N/A N/A
Developing partnerships N/A N/A

Tokenomics

Token info
SYMBOL CHR
GENESIS BLOCK N/A
BLOCK EXPLORER EXPLORER
CONSENSUS ERC-20
CIRCULATING SUPPLY 514,341,111 CHR
TOTAL TOKEN SUPPLY 1,000,000,000 CHR
% MAX SUPPLY MINTED 51%

 

Financials
MARKET CAP $13,202,636 USD
VOLUME (AVG 30 DAY) $4,138,612 USD
PRICE $0.029
VOL TO NETWORK 31%
AVG PRICE 30 DAY $0.027
TRADING PAIRS BTC + ETH + USDT

 

Token Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
High distributed supply N/A N/A
Token utility on platform N/A N/A
N/A N/A

Team

Experience
  • Team information is not clear on the website, however, a Linkedin profile is available with the company and team info listed.

Company and Funding

  • Chromia is a public relational blockchain platform developed by ChromaWay, a pioneering blockchain company.

Advisors and Partnerships

  • There are some impressive backers of the Chromia project which include:

Team Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Public team and company Info not available on website Add team/company info to website
Consistent development N/A N/A
Regular financial report N/A N/A
Working product with userbase N/A N/A
Registered company N/A N/A
Strong partnerships N/A N/A

Code

Audit

The Chromia team advised that they have had the ERC-20 contract audited and will provide a public code report in the near future.

Community

Engagement

The majority of the Chromia community involvement and engagement takes place on Telegram. 

To improve communication, we always recommend projects use a Discord channel which allows for more clear communication in dedicated channels.

The website is multilingual and allows Chromia to increase its global community of followers, developers and investors.

Community Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Large follower base N/A N/A
Active engagement with community N/A N/A
Regular communication N/A N/A

Technical analysis

Chart


Chart Analysis

The Chromia chart follows a similar pattern to most coins post-launch, with initial price discovery before price retreats into its perceived market value during an accumulation period.

Chromia was ranging between 0.01c and 0.02c for several months before breaking out earlier this year to previous resistance at the 0.08c to 0.09c levels.

Areas of interest to the upside would be a close above the 0.04c to 0.06c level on a daily or weekly time frame.

To the downside, a break below $0.02c would likely see a return to the initial accumulation levels below.

Price Summary
✅ POSITIVE ⛔ WEAKNESS 📝 IMPROVEMENT
Room for price growth on upside Price not reflective of development Increase brand awareness
Listed at top tier exchange N/A N/A

Summary

Conclusion

In summary, the Chromia project scored an outstanding 78/100 based on our scoring matrix, and we rate the project at an A rating.

ABOUT USE CASE
✅✅✅
COMPETITION
✅✅✅
ADOPTION
✅✅✅
FEATURES
✅✅✅
ROADMAP
✅✅✅
TEAM PUBLIC
✅✅✅
EXPERIENCE
✅✅✅
DEVELOPMENT
✅✅✅
PARTNERSHIPS
✅✅✅
FINANCES
✅✅✅
COMMUNITY COMMUNICATION
✅✅✅✅
FOLLOWERS
✅✅✅
GOVERNANCE
✅✅✅
ENGAGEMENT
✅✅✅
WEBSITE
✅✅✅
TOKENOMICS DISTRIBUTION
✅✅✅
EXPLORER
✅✅✅
EMISSIONS
✅✅✅✅
UTILITY
✅✅✅
ENTRY
✅✅✅
PRICE EXCHANGES
✅✅✅✅
LIQUIDITY
✅✅✅
PAIRINGS
✅✅✅
T.A
✅✅✅
DATA
✅✅✅

 

Breakdown

Disclaimer
  • This is a sponsored review on behalf of the Chromia project.
  • This review is intended for educational purposes only and SHOULD NOT be considered by you as financial advice. 
  • Before investing in any project, we recommend you do your research + consult a registered financial adviser.
  • All information listed is accurate at the time of publishing in December 2020.

 

Methodology
  • We used a combined rating score out of 100 for this review, covering all the listed metrics for project reviews.
  • Each section is rated out of 20 and comprises of 5 metrics we analyse
  • Each metric is rated out of 4, including a potential bonus point in every metric. 
  • Our rating and grading framework is available here.