What is Cronos?
Cronos is a chain based on the Cosmos SDK that supports IBC (Inter-Blockchain Communications), and it is compatible with the Ethereum Virtual Machine (EVM). In other words, it is compatible with ecosystems built on Ethereum and Cosmos, making it simple to move decentralized applications (dApps) and smart contracts from Ethereum.
On November 8th, 2021, the network launched parallel to the Crypto.org blockchain, which powers Crypto.com’s Pay feature. In June 2016, Crypto.com launched with its headquarters in Switzerland and is the company behind both blockchains.
Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao founded Monaco Technology GmbH to facilitate cryptocurrency payments. It was then renamed to Crypto.com, and its platform token, previously known as Monaco Coin (MCO), was changed to CRO (Crypto.com Coin). The company later launched the Crypto.org blockchain and renamed the token to Cronos, but kept the ticker symbol as CRO. On both the Crypto.org and Cronos blockchains, CRO is the native token for the whole Crypto.com ecosystem.
How does it works?
Cronos is one of the most prominent EVM-compatible chains at the meeting point of Cosmos and Ethereum. It is based on the Cosmos SDK, which allows the blockchain to access each ecosystem’s operations. Cronos, for example, provides minimal transaction fees and quick finality thanks to the Cosmos SDK, an open-source blockchain platform driven by the Tendermint consensus engine. Compared to Ethereum, transactions are verified quickly and inexpensively.
Cronos also employs multichain interoperability, allowing users to make digital asset transfers easily between other Layer-2 EVM chains and Layer-1 EVM chains in the Cosmos ecosystem via the Inter-Blockchain Communication protocol (IBC).
Cronos also employs multichain interoperability, allowing users to make digital asset transfers easily between other Layer-2 EVM chains and Layer-1 EVM chains in the Cosmos ecosystem via the Inter-Blockchain Communication protocol (IBC). The IBC functionality gives Cronos the capacity to communicate with other IBC-enabled chains, facilitating smooth asset transfers between them and extending the utility of native Cronos assets to more EVM-compatible chains. Osmosis, Injective, Cosmos Hub, and Terra are some excellent examples.
The Cronos Decentralized Bridge, which connects Cronos to the Crypto.org chain, allows for easy asset transfers between the two chains. Users can move CRO assets from Crypto.org to Cronos via the IBC-built Cronos Decentralised Bridge.
Cronos Chain’s primary goal is to help Crypto.com users. CRO holders can stake their coins on the Crypto.com network to act as validators and receive transaction fees. Additionally, CRO tokens may be used to settle network transaction fees.
Users of the Crypto.com Pay app may earn up to 20% cashback on merchant payments and up to 10% reward on gift card purchases and peer-to-peer (P2P) transfers to other users. The Crypto.com App allows users to stake CRO during trades to get token rewards for certain listings.
Customers may also stake their Crypto.com Coins to earn annual interest on those coins of up to 10-12% on the company’s metal Visa Card or the Crypto.com Exchange app.
CRO acts as a tool that enables Crypto.com to expand the use of cryptocurrencies across the world. As a result, the company is always exploring and developing new use cases that will allow users to utilize cryptocurrencies to gain more control over their money, data, and identities.
Token Name: Cronos
Ticker Name: CRO
Total Supply: 30,263,013,692
Circulating Supply: 25,263,013,692
How to buy CRO, Follow these steps:
- Signup withKoinBX
- Create an account using with required details.
- Complete your KYC verification process.
- Add your bank account
- Deposit Fait to your KoinBX account
- Click the buy option to buyCRO with INR & USDT.
How to Sell CRO?
Follow the below steps to sell CRO,
- Signup with KoinBX.
- Complete your KYC verification process.
- Add your bank account.
- To find a buyer for CRO, click the Sell option.
- After finding a buyer, you can start selling CRO in Indian rupees (INR).
How to Trade CRO?
Click CRO/INR pair to trade CRO with INR
Click CRO/USDT pair to trade CRO with USDT