Cronos, previously known as Crypto.com Chain, is an open-source, decentralized blockchain platform designed to support a wide array of decentralized applications, ranging from DeFi and payments to GameFi and NFTs. Since its introduction in 2020, the blockchain has undergone a complex process of rebranding and name changing. Initially named Crypto.com Chain, it was rebranded to Cronos in February 2021.

The chain belongs to Crypto.com and is one of the solutions that the exchange offers to the public. It runs parallel with the Crypto.org Chain, another blockchain belonging to Crypto.com. The relationship between Cronos and Crypto.org Chain is akin to the relationship between BEP-2 Chain and BEP-20 Chain.

Cronos aims to be the foundational infrastructure for an open metaverse, serving the next billion Web3 users and providing them with the ability to experience the full promise of self-custody of their digital assets.

Resources

Whitepaper: https://whitepaper.cronos.org/

Official website: https://crypto.com

How Does Cronos Work?

Cronos is an Ethereum Virtual Machine (EVM) compatible blockchain powered by Ethermint and built with the Cosmos SDK. It supports the Inter-Blockchain Communication (IBC) protocol, allowing for seamless integration and communication between different blockchain ecosystems.

Cronos offers high transaction throughput, fast finality, and low transaction fees. Its Proof of Authority (PoA) consensus mechanism ensures scalable and environment-friendly transaction processing. The platform can deliver faster, cheaper, and carbon-neutral transactions compared to traditional proof-of-work chains.

Cronos uses the Tendermint consensus engine, a Byzantine Fault Tolerant protocol, ensuring instant finality, scalability, and security against malicious behavior. In terms of sustainability, Cronos is more energy-efficient compared to Proof-of-Work networks.

Cronos Labs supports the development of decentralized applications (dApps) in various domains including DeFi, NFTs, Gaming Metaverse, and more. Cronos Play, a suite of developer tools, streamlines the creation of gaming and GameFi applications.

Connectivity and Interoperability.

Cronos emphasizes interoperability, allowing users to transfer tokens from and to other IBC-enabled chains in a decentralized manner. The roadmap includes further enhancements in connectivity and interoperability, making Cronos a hub for cross-chain communication.

What Is CRO Token?

The CRO token is an integral part of the Cronos ecosystem. The initial total supply of CRO was 100 billion, but a lot was burned, so the current total supply of CRO is 30.26 billion. The current circulating supply of CRO is 25.2 billion.

It's used by end-users to pay network transaction fees, and validators collect it in the form of transaction fees. The token plays a vital role in the governance of the Cronos chain, and it's also involved in various ecosystem incentives and rewards.

Cronos validators also hold a dedicated staking token used for governance purposes, separate from the CRO token. This staking token represents their voting power in consensus and other on-chain decisions.

Conclusion

Cronos, with its rich history and evolution from Crypto.com Chain, stands as a testament to innovation and adaptability in the rapidly changing world of decentralized technology. Its focus on scalability, security, sustainability, and interoperability positions it as a key player in the Web3 landscape.

coin.about_expand

what_is.current_price:

$0.07295what_is.more_price_detail

what_is.price_high:$0.9698

what_is.price_low:$0.01149

what_is.supply_title

what_is.circulate_supply:26,571,560,000 CRO

what_is.total_supply:30,000,000,000 CRO

what_is.max_supply:0 CRO

what_is.market_cap:$1.94B

what_is.fully_cap:$2.19B

what_is.token_allocation:

Secondary Distribution and Launch Incentives

30.00%

Capital Reserve

20.00%

Network Long-Term Incentives

20.00%

Ecosystem Grants

20.00%

Community Development

10.00%

what_is.tokenomics:

what_is.token_uniqueness

CRO blockchain is mainly focused on providing utility to the users of Crypto.com’s payment, trading and financial services solutions.

CRO owners can stake their coins on the Crypto.com Chain to act as a validator and earn fees for processing transactions on the network. Additionally, CRO coins can be used to settle transaction fees on the Cronos Chain.

Within the framework of the Crypto.com Pay payments app, users can get cashback of up to 20% by paying merchants in CRO and up to 10% by purchasing gift cards and making peer-to-peer transfers to other users.

When it comes to trading use cases, the Crypto.com App allows users to earn token rewards for select listings by staking CRO.

Additionally, users can earn annual interest of up to 10-12% on their Crypto.com Coins by staking them on either the Crypto.com Exchange app or Crypto.com’s metal Visa Card.

Overall, CRO acts as an instrument that powers Crypto.com’s drive to increase the adoption of cryptocurrencies on a global scale. As such, the company is continuously working on finding and developing new use cases that will allow users to leverage the cryptocurrency to enhance the control they have over their money, data and identities.

what_is.token_utility

On-Chain Transfers: CRO can be used to pay for gas fees when carrying out transactions on Cronos Chain.

Value Transfer: Holders can stake their CRO to a validator node or provide it to a liquidity pool on-chain, which generates returns for them in the form of additional CRO. Holders can also make CRO transfers to make payments.