This work investigates the intrinsic properties of the chromatic algebra, introduced by Fendley and Krushkal as a framework to study the chromatic polynomial. We prove that the dimension of the $n$th-order chromatic algebra is the $2n$th Riordan number, which exhibits exponential growth. We find a generating set of size $\binom{n}{2}$, and we provide a procedure to construct the basis from the generating set. We additionally provide proofs for fundamental facts about this algebra that appear to be missing from the literature. These include determining a representation of the chromatic algebra as noncrossing planar partitions and expanding the chromatic relations to include an edge case.