It's unknown when the browser could launch.
The rumour is yet to be confirmed by Microsoft, and as such it's not known if it would be a replacement for Edge with a new name, or a relaunch on the new engine.
A Chromium based browser will also give Microsoft access to the hundreds of thousands of existing extensions for Chrome (if they choose to adopt them - Opera, for example, doesn't) which will make it more appealing again.
Since Microsoft rolled out the stable build of Windows 10 back in 2015, it started laying emphasis on its new default web browser - Microsoft Edge.
For the uninitiated, Chromium is the open-source web rendering engine that forms the basis of the ever-popular Google Chrome browser.
Not only will it be easier for web developers who already have to support popular engines from Google (Blink), Mozilla (Gecko), and Apple (WebKit), switching will make it easier for Microsoft to create unique Windows 10 features in the new browser and hold its own against other Chromium-powered competitors like Opera, Amazon Silk, and fearless. Further, it's also unlikely they'll ship a version of Edge that's simply powered by the Chromium engine, but instead will probably build a specific fork of the Chromium engine designed for the specific goals they want to meet with this new version of Edge. However, due to a plethora of bugs and instability, Windows 10 users never lapped it up in the same manner as Google's Chrome. With Edge, Microsoft promised a new browsing experience that gels well with the ethos of Windows 10.
If that's legit, it'll see Microsoft swap out the EdgeHTML engine it built from scratch for the one that's part of the open source Chromium base, and powers Google Chrome, Opera, and fearless. What will this new browser be called? And if they are, other people can just fork them and develop their own version. Besides what Windows Central has heard, the rumor is supported by code contributions made to the Chromium project by Microsoft engineers. Therefore, the future of the web may depend on how Google and Apple continue to develop the Blink and WebKit rendering engines.