Chromia says it offers a relational blockchain that is the sum of a relational database and blockchain technology, a "technical solution for the real world."
Chromia was founded in 2018 as an open-source public platform designed by Chromaway, a blockchain development company that was itself founded in 2014 by Henrik Hjelte, Or Perelman, and Alex Mizrahi. According to the Chromia website, Chromaway does not control Chromia.
Chromaway works with the Inter-American Development Bank on a three-nation project to transfer property registrations to a blockchain-based database that began in 2019. The countries are Bolivia, Peru and Paraguay. When it announced the project, the company said, "ChromaWay will leverage its experience on closely related projects that include Sweden, Canada, India, and Australia."
In a blog post on August 3, 2020, Chromia announced the launch of the Hedget protocol for options trading. According to the post, Hedget is a decentralized finance (DeFi) application that is designed to run on the Chromia sidechain to Ethereum's blockchain. Settlement of option exercises are the only transactions that will take place on Ethereum itself. The purpose of the sidechain is to enable cheaper and faster transactions, according to Chromia's blog post.