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

A certain blockchain platform recently announced two important initiatives at a conference in Singapore: the establishment of a $20 million data and artificial intelligence ecosystem fund, and the launch of a mainnet upgrade codenamed "Asgard."

This newly established fund will be led by the platform's business development director, aiming to support data-intensive projects and artificial intelligence applications. The director stated: "Projects that handle large amounts of data require data cleaning and automation to enable artificial intelligence applications. Our platform provides developers with an ideal environment to process, analyze, and respond to complex datasets in real time."

The platform's co-founder 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, the platform also announced that it will conduct the "Asgard" Mainnet upgrade in the fourth quarter of 2024. This upgrade will introduce the "Expansion" feature, aimed at bringing customized blockchains with new functionalities to the platform. These expansions will be available for native dApps and external clients, thereby extending the platform's capabilities.

The proposed extended features include: oracle solutions, AI model computation, as well as data availability and zero-knowledge proof support.

Earlier this year, the platform officially launched its Mainnet and adopted an on-chain relational database architecture, which not only enables effective management of a large amount of interconnected data but also optimizes and improves on-chain queries. This architecture allows it 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 gaming projects, the platform also plans to enter the data market and intensify its efforts in gaming and other industries.

Currently, this newly established fund has begun accepting applications, and the "Asgard" Mainnet upgrade is expected to go live by the end of this year. The "expansion" feature will also be developed as planned, with a full rollout expected in 2025.

These initiatives demonstrate the platform's ambitions in data processing and artificial intelligence, promising to bring new development opportunities to the blockchain ecosystem.