Cronos (CRO) — Crypto.com ecosystem cryptocurrency
Many people's familiarity with the CRO coin starts with the Crypto.com exchange, one of the largest centralised exchanges in the world. The cryptocurrency is firmly embedded in the ecosystem and is increasing, providing holders various benefits when using the exchange and other developer products.
Technical features
Cronos operates on the Ethermint blockchain protocol, which provides high scalability, easy portability of smart contracts and dApps (decentralised applications) from Ethereum.
One can make this analogy:
- Binance has Ethereum-compatible Binance Chain and BNB Chain (formerly Binance Smart Chain);
- Crypto.com has an Ethereum-compliant crypto.org chain and a Cronos chain.
Cronos leverages the Proof of Authority (PoA) consensus mechanism and is focused on massive scaling of the decentralised finance ecosystem, allowing developers to quickly move applications and smart contracts from EVM-compliant blockchains. The Ethereum Virtual Machine (EVM) provides good interoperability, high throughput and low fees.
The Cronos blockchain network interoperates with the Ethereum ecosystem and Cosmos, successfully supporting DeFi, NFT and meta-universe directions. This interoperability is enabled by the IBC (Inter-Blockchain Communication) protocol. IBC allows blockchains to "communicate" with one another, transfer value, and exchange digital tokens without scaling issues.
Crypto.org chain and Cronos support the execution of smart contracts written in different programming languages. In particular, it is possible to use the Solidity language, as in Ethereum. In the future, CosmWasm smart contract execution will be introduced, targeting Go and Rust developers.
The company has plans to develop the blockchain further:
- Building a detailed roadmap covering multi-chain interoperability and expanding the IBC bridge to more blockchains connected to Cosmos.
- Attracting and supporting new Cronos users, including those who have never heard of DeFi and Web3.
- Introducing new DeFi projects, blockchain games and meta-universes.
CRO tokens
The CRO cryptocurrency is only distributed on the secondary market. This means it has no prior or public sale.
Examples of how the coin is used in the crypto.com ecosystem:
- Payments - Crypto.com Pay, Crypto.org Chain and Visa card.
- Trading - Crypto Exchange and the Crypto.com mobile app.
- Financial Services - Crypto.com Earn, Crypto.com Credit, and Crypto.com DeFi Swap.
Thus, CRO is widely used on crypto.com and develops a range of valuable functions, being a native token in the Cronos chain. Transferring assets between the Crypto.org chain and Cronos is possible using a unique cross-chain bridge. Users can convert CROs from the Crypto.org chain to CROs on the Cronos blockchain. In the future, it will be possible to transfer other assets in this way.
How to get a CRO token
Since CRO can be purchased on the crypto market, we offer the option of using exchanges for this purpose.
Our website includes information about several hundred exchangers, and we closely monitor their performance. You can easily find a service to suit your needs - one that supports the desired payment direction and offers the most favourable exchange rate.
