Crypto companies agency Crypto.com introduced the launch of Cronos mainnet beta yesterday, making it the primary Cosmos EVM chain for supporting DeFi, NFTs, and the metaverse.
https://t.co/vCNztABJoG Pockets Extension now helps Cronos Mainnet Beta! Join your DeFi Pockets with DApps on Cronos by way of the browser extension 🔗
Different new options
🔄 Community switching
🖥 Stability, community, and pockets particulars show
— Crypto.com (@cryptocom) November 9, 2021
Cronos can massively scale the DeFi and decentralized utility ecosystem by offering builders with the flexibility to immediately port apps from Ethereum and EVM-compatible chains.
With low price, excessive throughput, quick finality, and built-in interoperability, Cronos is poised to carry decentralized purposes to the ten million consumer base of the Crypto.com ecosystem and past.
Leveraging Cosmos SDK, Cronos has built-in interoperability from day one. Its Inter-Blockchain Communications (IBC) protocol permits interoperability and bridging to the Crypto.org Chain and different IBC-enabled chains (e.g. Cosmos Hub). Cronos is uniquely positioned linking the Cosmos ecosystem and EVM ecosystem.
CRO is the native token of the Cronos platform, powering on-chain transactions with community charges paid in CRO. The expansion of the Cronos ecosystem will carry further utility to the CRO token with its present use circumstances within the Crypto.org chain and Crypto.com ecosystem.
What Cronos does?
Cronos Mainnet is shipped with the Ethereum Digital Machine that may execute user-submitted sensible contract codes. It’s suitable with the EVM on Ethereum which suggests builders can port their sensible contracts from Ethereum and EVM-compatible chains to Cronos with out trouble.
“We’re utilizing the newest Cosmos SDK v0.44 household and the IBC v1 household. This makes Cronos supply probably the most up-to-date options and fixes from Cosmos SDK and may probably join with different Cosmos chains comfortable,” mentioned Crypto.com in a press release.
The token customary on Cronos is CRC-20. At launch, customers may bridge chosen tokens from Crypto.com App and Alternate by merely deciding on Cronos community when depositing and withdrawal, and from Crypto.org chain to Cronos by way of
For customers which might be bridging CRO from Crypto.org to Cronos, the Cronos Bridge will probably be out there from day 1 for customers to take action. The Cronos bridge helps quick, safe, and low-cost transfers between the Crypto.org chain and Cronos chain.
Disclaimer: Crypto.com is an promoting companion of Crypto.
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