Review Crypto.com Coin ($CRO) – The valuable native currency of Crypto.com’s blockchain

What is Crypto.com Coin ($CRO)?

Crypto.com’s native token is the CRO token. The CRO is an Ethereum-based ERC20 token that grants users access to a slew of tiered perks inside the Crypto ecosystem, with the purpose of boosting widespread cryptocurrency adoption. Crypto.com will enable customers to purchase and sell using fiat currencies and debit cards, as well as trade, lend and borrow. Additionally, it comes with its own non-custodial wallet.

Crypto.com’s blockchain is powered by its native cryptocurrency. While the CRO was first developed as an ERC20 reward token, it was later migrated to Crypto.com’s Cronos network. You may use CRO as a medium of exchange or convert cryptocurrency to cash at competitive rates. Cronos, its next-generation public blockchain, is designed for consumers and merchants, enabling them to securely and privately utilize and accept cryptocurrencies.

About Crypto.com Exchange

Crypto.com (CRO) is a Singapore-based cryptocurrency exchange that enables investors to purchase, trade, and swap a variety of cryptocurrencies and blockchain-based goods. Apart from the decentralized exchange, it also provides a cryptocurrency wallet, a marketplace for NFT, and credit cards. Cryptocurrency holders earn up to 14.5 percent interest on their holdings.

The network now supports more than 150 cryptocurrencies, including some of the most prominent ones, like Bitcoin, Ethereum, Dogecoin, Polkadot, and Cardano. Additionally, it supports compatible currencies such as the U.s dollar, euro, British pound, and Canadian dollar.

Transaction costs might range from 0.40 percent. While they are respectable costs, they are not the cheapest on the market. This is where a CRO can help. Possessing a sizable quantity of CRO entitles you to cheap transaction costs, increased credit card rewards, and favorable stake interest rates.

What is Cronos?

Cronos is compatible with Ethereum (EVM) and is compatible with the Cosmos ecosystem. Cronos enables the quick translation of Ethereum-based applications and smart contracts to other EVM-compatible networks. Inter Blockchain Communications (IBC) facilitates interoperability and bridging with the Crypto.org chain and other IBC-enabled chains, such as Cosmos Hub. This implies that you will be able to trade, lend, borrow, earn, stake, vote, and play on Cronos using any crypto-asset established on an Ethereum-compatible or IBC-compatible chain.

This is equivalent to the Binance Chain and Binance Smart Chain (EVM-compatible). Cronos Chain’s mainnet beta launched on Nov. 8, 2021, and is based on the Cosmos SDK and employs a proof-of-authority (PoA) consensus process. Compatibility with the Ethereum Virtual Machine (EVM) enables the migration of thousands of DApps built on Ethereum to the Cronos Chain.

Cronos is a frictionless, fast, and cost-effective transaction. Its goal is to provide a high transaction throughput (hundreds to thousands of transactions per second), a quick transaction completion time (5–6 seconds), and low transaction costs (from one to a few dimes). It’s Proof of Authority (POA) consensus algorithm combines decentralization and efficient, scalable, and environmentally friendly transaction processing.

It is a community established for and by its members. The global community of over 10 million CRO token holders, users, and open-source contributors is one of its primary strengths. We anticipate that the community will grow exponentially in the coming months. Particle B, the Cronos chain’s ecosystem accelerator, has been allocated USD 100 million in CRO to facilitate this. Additional ecosystem development projects will emerge over time.

Outstanding Features

What is the project trying to achieve?

The Ethereum gas fees issue has resurfaced, and it is eroding the floor price of a large number of NFTs and DeFi dApps. As a result, many decentralized applications are searching for quicker and more affordable platforms to transfer to.

That means Cronos is well-positioned to assist developers in migrating their decentralized applications (dApps) to a more affordable, quicker, and scalable blockchain where users do not have to pay high gas prices.

This is because Cronos employs Proof of Authority (PoA), a more environmentally friendly, streamlined, and scalable consensus mechanism based on validators. It is more scalable than other consensus algorithms and is based on highly debatable mining consensus.

What is the unique selling point?

Cronos is EVM compatible, which enables developers to easily construct and move apps and smart contracts from Ethereum and other EVM-compatible chains.
Scalable — Tendermint processes more transactions per minute than Ethereum, enabling smart contract execution quicker and more affordable. Inter Blockchain Communications (IBC) is a protocol that enables blockchains to “speak” to one another: to interact and transfer value, to trade assets and services, and to connect without experiencing the scale concerns that plague some of today’s larger blockchains. Users may quickly and simply deploy a Cronos network for their own purposes by following the deployment instructions.

Utilizing CRO as a native token: CRO was initially Crypto.org’s national currency. By utilizing CRO as a native coin on the blockchain, the use of CRO is broadened (similar to how Binance uses BNB as the native token for Binance Smart Chain).

Cronos is trailed by Crypto.com, the second-largest CEX exchange by market capitalization, which owns several products including the Crypto.com Visa Card, the Crypto.com exchange, and the DeFi Crypto.com wallet, all of which serve more than 10 million customers. This was the catalyst for Cronos’ rapid rise to prominence and widespread use. Additionally, Crypto.com utilizes a $100 million CRO EVM fund to encourage Cronos-based enterprises.

Using the Proof of Authority consensus process: a variant of the Proof of Stake consensus technique that strengthens the members’ identification and reputation rather than depending on the number of tokens they own to confirm the block on-chain

Why Would You Build on Cronos?

Cronos is the Ethereum Virtual Machine (EVM) chain that operates parallel with the Crypto.org chain. It promises to significantly extend the DeFi and decentralized application (DApp) ecosystems by enabling developers to rapidly migrate applications from Ethereum and EVM-compatible chains.

• EVM Compatibility: Cronos, which is built on Ethermint, enables quick migration of applications and smart contracts between Ethereum and other EVM-compliant chains. If you are a developer on another EVM-compatible chain, you may migrate your program to Cronos smoothly.
• Instant Finality: Built on top of the Tendermint core, with the Tendermint consensus algorithm’s primary virtue being immediate finality. Cronos transactions are completed relatively immediately once a block is created.
• Scalable and Affordable: Cronos can handle more transactions per minute than the majority of foundation layer blockchains, enabling smart contract execution faster, cheaper, and more environmentally friendly.
• Inter Blockchain Communications (IBC) Interoperability: Cronos being IBC-enabled allows for interoperability and seamless bridging to other IBC-enabled Cosmos-based chains (e.g., Crypto.org Chain, Cosmos Hub, Osmosis, Terra, etc.)
• Access to Broader Crypto.com Ecosystem: Cronos gives access to the Crypto.com ecosystem’s huge retail user base. This enables projects to target DeFi natives as well as DeFi newcomers from the larger Crypto.com community.

Characteristics of blockchain (updated Feb/2022)

• Average block time: 5.8 seconds
• Total transactions: 14,414,494
• Total blocks: 1,403,935
• Wallet addresses: 434,091
• Market Cap: $12,338,343,505 USD

Roadmap

Technical Data

Token Metrics

• Token Name: Crypto.com Coin
• Ticker: CRO
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: 0xa0b73e1ff0b80914ab6fe0444e65848c4c34450b
• Token Type: Utility, Governance
• Total Supply: 100,000,000,000
• Circulating Supply: 25.26B

Token Use Case

DeFi: Trade, earn passive income, lend, borrow crypto with low gas fees and fast transactions.

NFT: Get NFTs to show your status in the ecosystem.

Metaverse: Build future games and metaverse.

Market and Community

Backers

Team

Advisors

Partner

Verdict

The Crypto.com blockchain platform offers a diverse range of payment, trading, and investment opportunities. It offers a range of payment options that are easy to acquire and apply, while also giving profitable trading and investing opportunities for revenue generation. This results in a sustainable DeFi ecosystem that has the potential to accelerate bitcoin adoption globally. It currently boasts millions of users and even offers a cryptocurrency credit card. It is a fully registered firm in Hong Kong, China, and has operated without incident for years. Investing in an exchange’s native token is a sensible decision if the exchange is reputable. Crypto.com is quite reputable in this instance.

Find more information about:

Website: https://cronos.crypto.org/

Docs: https://cronos.crypto.org/docs/getting-started/

Twitter: https://twitter.com/cronos_chain

Telegram: https://t.me/CryptoComOfficial

Discord: https://discord.com/invite/nsp9JTC

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures