Cronos (CRO): Is It A Good Investment?

What is Cronos?

Cronos is an open-source and decentralized public blockchain of Crypto.com exchange, which is deployed on top of the Cosmos SDK, aiming to offer a payment system with a high-security level for financial organizations worldwide.

Cronos is an Ethereum Virtual Machine (EVM) blockchain as well as a sidechain running alongside the Crypto.com Chain.

Crypto.com is based on the Crypto.com chain and the EVM-compatible Cronos chain, similar to Binance, the world's largest cryptocurrency exchange, which runs both the Binance Chain and the EVM-compatible  Binance Smart Chain.

Cronos supports the speedy transfer of applications and smart contracts from the Ethereum platform and EVM to the Cronos network, facilitating the scalability of Dapps. 

Cronos is powered by Ethermint, a scalable, high-throughput Proof-of-Stake blockchain connecting with Ethereum, and is running on another agreement instrument called a Proof of Authority (PoA) consensus mechanism.

History of Cronos

Founded in June 2016, the company Crypto.com, originally known as Monaco, is the brainchild of Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao.

In 2018, the company rebranded to Crypto.com, following a purchase of a domain owned by cryptography researcher and professor Matt Blaze.

Cronos was developed by Crypto.com with the vision of “putting cryptocurrency in every wallet”.

In November 2021, Crypto.com launched the Cronos mainnet beta, the Cosmos SDK-based EVM compatible chain.

In February 2022, Crypto.com rebranded to its current Cronos name to avoid confusion between the website and the token.

About CRO tokens

Cronos (Symbol: CRO), formerly known as Crypto.com Coin, is the native utility token of the Crypto.com chain, Cronos, and the Crypto.com exchange.

CRO token powers any on-chain activities within the Cronos ecosystem and focuses on cross-asset intermediary currency settlement for the Crypto.org Chain.

CRO can be used for the following key purposes within the Crypto.com ecosystem: 

• Payments: Crypto.com Pay, Crypto.org Chain, and Visa Card.
• Trading: Crypto.com App & Exchange.
• Financial services: Crypto.com Earn, Crypto.com Credit & Crypto.com DeFi Swap.

Moreover, CRO tokens serve as rewards for validators in processing and verifying transactions on the network.

Features of Cronos

Cronos ecosystem sets its name apart from other projects with these significant features:

• EVM compatibility: Built on Cosmos SDK compatible with EVM, Cronos is designed to support smart contracts, Dapps, or DAOs running on Ethereum.
• Scalability: Cronos can process a large number of transactions per second (TPS) and execute smart contracts with rapidity and lower fees compared to Ethereum. 
• Interoperability: Inter Blockchain Communications (IBC) protocol provides Cronos with direct connectivity to the Crypto.com Chain, and other IBC-based chains, such as Cosmos Hub.
• Easy deployment: Users can easily deploy the Cronos network for any purpose by following the deployment instructions.

Who is behind Cronos?

Team

Entrepreneurs with a wealth of experience in technology and banking co-founded Crypto.com was founded with the aim to make digital currencies accessible to the whole world: 

• Kris Marszalek (Co-Founder & CEO): A serial entrepreneur and the former CEO for Ensogo and BEECRAZY.
• Rafael Melo (CPA - Co-Founder & CFO): Former CFO at Mobile Payment Solution, over 15-year experience in finance. 
• Gary Or (Co-Founder): Founder of Particle B, 9-year experience in engineering (RoR, Elixir, Golang).
• Bobby Bao (Co-Founder & Head of Corporate Development): Named to the 2018 Forbes’ 30 Under 30 List. 

Partners

Cronos has established partnerships with various featured names involving Particle B, Alchemy, Bisol Trails, Forbole, and Cosmostation. 

Other prominent partners of Cronos are in various fields of infrastructure, validators, blockchain analytics, and risk management fields.

Outlook on Cronos

Since its launch in 2016, Crypto.com has been growing in popularity with over 10 million customers, offering a variety of products including Crypto.com Visa Card, Crypto.com exchange, DeFi Crypto.com wallet, and the platform for NFT collection and trading. 

Backed by Crypto.com exchange, the fourth largest exchange by market cap, and many other reputable partners from the beginning, CRO is showing great potential for growth in the future.

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