- November 9, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Cronos, the first Cosmos EVM (Ethereum Virtual Machine) chain for the Metaverse, Defi and NFTs is live on Cronos Mainnet Beta today.
It will enable developers to port apps from Ethereum and EVM–compatible chains instantly!
Scaling the DeFi and decentralized ecosystem, and at lower costs, the new Cronos platform has higher performance and built-in interoperability for the 10M+ users of the Crypto.com ecosystem.
Cosmos SDK, the Inter Blockchain Communications protocol (IBC) provides bridging and interoperability to any IBC-enabled chains like Crypto.org or Cosmos Hub. It has an outstanding position linking the EVM ecosystem and the Cosmos ecosystem.
On–chain transactions are paid in CRO, the native token of the Cronos platform. CRO´s utility will grow as the Cronos ecosystem grows, along with Crypto.org and Crypto.com.
New Horizons for Existing Blockchains With Cronos
Cronos Mainnet uses an EVM that is totally compatible with Ethereum, meaning that users can use smart contracts from EVM´s on compatible chains and Ethereum. This makes it simple to cross over to Cronos easily.
Packed with the latest Cosmos SDK v0.44 and the IBC v1, Cronos offers the most up to date features and fixes in the market.
The Bridge
The Cronos native token is CRC–20. To bridge selected tokens from the Exchange and Crypto.com to Cronos all users have to do is select Cronos network from Crypto.org, or simply via the IBC channel.
The Cronos bridge is available for users to bridge CRO from Crypto.org chains with secure, fast and low cost transfers. Always within the Cosmos SDK, a fully decentralized protocol operating the Gravity and the IBC modules.
And since both are IBC enabled chains, CRO is routed in the IBC standard token without complications on the Cronos EVM level.
Cronos Partners
Cronos has a constantly growing ecosystem with team of key players in the industry:
- Validators: Bison Trails, Stakin, Allnodes, Audit.one, Cosmostation, Ariane 6, CRO Nest, Crypto.bzh. CryptoWarfareUS, Defier, Europa, Icy Rod, Jerry’s Pool, Lastation, Nebkas.ro, Onward Singapore, Perseverance, Stakespace, Staking.Cafe, SwissCro, Ubik Capital, X Staking
- Decentralized Oracles: Chainlink, Band Protocol, Blink Oracle
- Cross-chain Bridge: Nerve, cBridge, AnySwap
- Wallets: Metamask, Crypto.com DeFi Wallet, Nabox, Trust Wallet
- DeFi: VVS Finance, Tectonic, CRODEX, CronaSwap, PhotonSwap, Annex Finance
- NFT & Gaming: Duelist King, Gem Studio, Cronos Chimp Club, Crocos NFT
- Fiat on/off-ramps: Crypto.com App
- Other Infrastructure & Toolings: Covalent, Alchemy, Etherscan
$100 Million in Grants
The blockchain accelerator and partner Particle B has recently announced a fund to at least one hundred projects, of U$ 1 million each. Infrastructure, tooling and building applications will benefit.
$500K Prize for the Cronos Hackaton
From the 24th of September to the 24th of November, the Cronos Hackaton will host entrepreneurs and developers who wish to contribute with early–stage projects and other ideas to the ecosystem.
A prize of 500K U$ will be delivered to the best idea in five areas; Metaverse, Web3, GameFi, NFT and DeFi. Soon, a bug bounty program will release a reward to improve on-chain security initiatives as well.
More Coming From Cronos
Improving and optimizing the network infrastructure are musts. Bridging more and more Cosmos based chain tokens through IBC is another important target.
The use of IBC assets like EVM tokens is on the table, and developers are already on it.
In October the team launched the Cassini incentivised testnet with 13K testers to stress test the EVM capability, resulting in a staggering 15M transactions in four weeks.
The Cosmos IBC protocol two challenges came up; the difference of CROs in decimal places, and using IBC bridged assets such as ATOM or OSMO.
Another high goal is to develop a Gravity Bridge, to bring Ethereum based chain assets to Cronos, all among other exciting new features the developers´ team are working on for the coming versions.
All and all, the fifth version of Cronos testnet is running strong. The community´s feedback is overwhelmingly positive. The ecosystem has grown to 1M blocks, over 600K addresses and 1.5M transactions so far.
Start building on Cronos with Developer Resources
Cronos is ready to rock!
If you want to start working with Cronos right now, check out the EVM API Documentation and the Blockchain Explorer!
The post Cronos Mainnet Beta is Live: Crypto.com Ecosystem Grows Stronger appeared first on Blockonomi.
