We are pleased to announce that CoolWallet, the leading Bluetooth hardware wallet for crypto assets, has integrated default support for Chromia’s CHR token.
CoolWallet S and CoolWallet Pro now have default support for Chromia’s CHR token (ERC-20). While our users can already of course add any ERC-20 as a custom token, these non-default tokens do not display icons and have no further functionalities within the CoolWallet ecosystem. This integration will mean that CHR will appear in default lists in our CoolBitX Crypto app, have the logo displayed, and provide the possibility for future staking and DeFi options in-app.
In addition to the above, CoolWallet is committed to supporting the native CHR token and possibly offering staking when this feature is activated on Chromia’s mainnet. Please update to our latest app version from 8 July 2021 to enjoy default support for Chromia (CHR).
What is Chromia (CHR)?
Chromia is a smart contract-enabled blockchain platform that consists of a network of relational blockchains, and aims to solve the scalability problem of Decentralized Apps (DApps). Drawbacks of the Ethereum blockchain like high gas fees and network congestion prevent DApps from becoming more mainstream. Chromia seeks to solve these issues by combining the concepts of relational databases and blockchain technology.
Chromia was co-founded in 2014 by “Colored Coins” founder Alex Mizrahi as CTO, Or Perelman as COO, and Iddo Bentov and Henrik Hjelte as CEO.
Similar to sharding on the Ethereum blockchain, each of Chromia’s blockchains is associated with a set of validator nodes, which all make up a subset of Chromia nodes. The nodes run a Byzantine Fault Tolerance (BFT) consensus algorithm.
The platform is an open-source development landscape for anyone to build DApps on. Chromia is multi-purpose and can be used as a public, private, or hybrid model blockchain, or even as an Ethereum layer 2 scaling solution.
Chromia’s low transaction fees and times as well as its fast deployment of DApps for developers make it a leading industry competitor.
The Chromia platform is suitable for all kinds of DApps, even those requiring high I/O capacity or those involving complex data set management, such as massively multiplayer online games (MMOGs).
The Chromia blockchain token is CHR, which is currently an ERC-20 token. However, when the Chromia mainnet is launched, there will be a transition to a native one. The CHR token is a multi-utility token, which offers mutually beneficial incentives to all industry players, including investors, developers, and non-technical users of Chromia-based DApps.
In addition to being used as a medium of exchange, the CHR token is also used similarly to Ethereum’s ETH to pay for gas fees by compensating nodes. DApps can also peg their own tokens to CHR.
Who Are CoolWallet?
CoolWallet is a hardware wallet manufacturer which utilizes cutting-edge security and design. Unlike other hardware wallets which come in the form of clunky USB-style thumb drives, both the CoolWallet S and CoolWallet Pro are the size of a standard credit card, with a thickness of 0.6mm and a weight of only 6 grams.
These wallets communicate with your mobile device (iOS & Android) using an encrypted Bluetooth connection. This means there are no cords to plug in – as long as your card is within 10m of your device, you are ready to go! To ensure optimal security, besides the biometric verification steps from your mobile device, a visual check on the e-ink display and a physical push on the confirmation button of the device itself is required to verify that you are in control of your CoolWallet. CoolWallet devices are a perfect combination of security and convenience to fully control your assets where and when you need them.
CoolWallet already supports an extensive list of top cryptocurrencies, and we are excited to add Chromia to this list.
To learn more about Coolwallet’s available hardware wallet products, visit https://www.coolwallet.io/