Chromia announces the establishment of a $20 million ecosystem fund and the launch of a Mainnet upgrade

A Layer 1 project focused on relational blockchain recently announced two important plans at a major blockchain conference in Singapore. The project will establish a data and artificial intelligence ecosystem fund with a scale of up to $20 million and plans to launch a Mainnet upgrade codenamed "Asgard".

This fund aims to support data-intensive projects and artificial intelligence applications, and will be led by the business development director of the project. The director stated: "We believe that projects handling large amounts of data require data cleaning and automation to achieve artificial intelligence. Our platform provides developers with an ideal environment to build solutions that process, analyze, and respond to complex datasets in real-time."

The co-founder of the project added: "By supporting artificial intelligence and other data-centric solutions, we will seek broader partnerships while further expanding the ecosystem in new directions."

In addition to the fund, this blockchain project also announced that it will conduct the "Asgard" Mainnet upgrade in the fourth quarter of 2024. This upgrade will introduce "scalability" features aimed at bringing customized blockchains with new functionalities to the platform. These extensions will be available for use by native dApps and external clients, thereby expanding the platform's capabilities.

It is reported that the proposed extended features include: oracle solutions, AI model computation, as well as data availability and zero-knowledge proof support.

Earlier this year, the project officially launched its Mainnet and utilized an on-chain relational database architecture, which not only achieved effective management of a large amount of interconnected data but also optimized and improved on-chain queries. This architecture allows the platform to function both as an independent decentralized application platform and as a relational data layer for Web3 projects based on other blockchains.

In addition to supporting some gaming projects, the blockchain platform also plans to venture into the data market, intensifying its efforts in gaming and other industries.

Currently, this newly established data and artificial intelligence ecosystem fund has started accepting applications. The "Asgard" Mainnet upgrade is expected to be launched by the end of this year, with the "expansion" feature also being developed as planned, and is expected to be fully launched in 2025.