Chromia Announces $20M Fund and ‘Asgard’ Mainnet Upgrade to Support AI and Data-Focused Projects

Chromia expands ecosystem with AI and data-centric initiatives

At TOKEN2049 in Singapore, Chromia announced two key initiatives set to shape the platform’s future growth: a $20 million Data and AI Ecosystem Fund and the forthcoming ‘Asgard’ Mainnet Upgrade. These moves are part of Chromia’s broader strategy to leverage its unique relational blockchain model and expand into data-driven and AI-powered applications in the coming years.

Heard about our massive announcements?

– $20M Data and AI Fund
– Asgard Upgrade
– Chromia Extensions

Check out the blog for details on what this means for #Chromia and why it’s a game-changer for Web2, Web3, and the ecosystem!

🔗 https://t.co/APfUp2qxxe pic.twitter.com/iWZgkbvrF8

— Chromia | Power to the Public (@Chromia) September 18, 2024

The Data and AI Ecosystem Fund is designed to support developers working on projects that require significant data handling, automation, and artificial intelligence (AI). This initiative will be led by Yeou Jie, Chromia’s Head of Business Development, who previously held a key role at DeFiance Capital. Jie emphasized the fund’s goal, stating Chromia is the ideal environment for developers to build solutions that can process, analyze, and react to complex datasets in real time. The initiative is expected to position Chromia as a leader in AI-backed blockchain solutions by encouraging innovation in data-centric industries.

Chromia Unveils Updated Roadmap

‘Asgard’ upgrade to enhance dApp capabilities

In addition to the fund, Chromia revealed the ‘Asgard’ Mainnet Upgrade, slated for Q4 2024. The upgrade will introduce Extensions—customized sidechains designed to expand the functionality of Chromia’s platform. These will offer developers new tools, such as oracle integrations, AI computation support, and solutions for data availability and zero-knowledge proofs. Extensions can be used by both native Chromia dApps and external projects, broadening the platform’s potential use cases.

Chromia’s mainnet, which launched earlier this year, incorporates an on-chain relational database architecture. This allows developers to build decentralized applications (dApps) using familiar database management techniques, a feature that sets Chromia apart from traditional blockchain platforms. Each dApp operates on its own customizable sidechain, ensuring high throughput while maintaining the security of the Chromia network.

Chromia has already seen success with its applications in gaming, with notable projects like My Neighbor Alice and Mines of Dalarnia. However, the platform’s focus is now expanding beyond gaming. The ‘Asgard’ upgrade and AI fund mark a significant shift toward data-centric industries, positioning Chromia to play a vital role in fields where real-time data processing and advanced automation are critical.

What is Chromia?

Chromia is a Layer-1 relational blockchain platform that merges blockchain technology with a relational database model, simplifying the development of scalable and efficient decentralized applications (dApps). Its architecture, combined with the SQL-like Rell programming language, allows developers to manage large datasets and build complex applications. By enabling each dApp to operate on its own sidechain, Chromia delivers both high performance and customizability, while ensuring the security of the entire network.

The bottom line

With the launch of its $20M Data and AI Ecosystem Fund and the ‘Asgard’ Mainnet Upgrade, Chromia is well-positioned to support the next generation of data-intensive dApps. These initiatives, combined with its unique relational blockchain framework, pave the way for broader adoption across industries where data and AI play a crucial role. As Chromia continues to evolve, developers will have access to a platform that is optimized for both scalability and advanced functionality.