CRONOS

Cronos – the Ultimate EVM-Compliant Chain

Cronos represents one of the latest innovations in the blockchain world. Overall, the EVM-compliant chain that runs concurrently with the Crypto.org Chain.  It seeks to dramatically extend the Chain DeFi ecosystem by enabling developers to swiftly port applications from Ethereum and other EVM-compatible chains, using money from Particle B's $100 million EVM fund and access to the Crypto.com community's 10 million+ users.

Bringing promise prospects for the future, Cronos was awarded a $100 million ecosystem funding programme dubbed Particle B, which will help the company assist developers and partners from the start of the project. Under Particle B, grants of up to $1 million will be granted to 100 teams that commit to developing apps, tools, and infrastructures on the Cronos platform. In addition to assisting in the activation of Cronos, the incentive programme motivates developers to construct their products on Cronos's premises as well. 

Technical Overview of Cronos

Cronos is backed by Ethermint, a platform that enables the quick migration of applications and smart contracts between Ethereum and other EVM-compatible chains. Cronos' basic settlement currency will be CRO, the Crypto.org Chain's native currency. The Inter Blockchain Communications (IBC) protocol provides interoperability and linking to the Crypto.org Chain, a completely decentralised, open-source, energy-efficient public chain with lightning-fast transaction speeds and incredibly low fees. Additionally, it enables interoperability with other IBC-enabled chains (e.g., Cosmos Hub).

In contrast to other blockchain solutions that come pre-packaged with state machines and built-in, developers may utilise the Tendermint for BFT state machine replication of apps in any programming language they want and in any development environment that works for them. When it comes to Proof of Authority techniques, Cronos relies on them to provide an easier to use and more scalable consensus procedure while still preserving security by using many validators maintained by various parties.

Ecosystem of Cronos

Furthermore, Cronos is built on the Cosmos SDK and the Tendermint Core consensus engine, which are both available for download. Tendermint performs well in PoS / DPos networks, allowing for large transaction throughputs, and enables fast transaction finality upon block commitment, among other features.

Cronos welcomes and supports new ventures, such as the Payment and DeFi initiatives. Besides, the Chain is built on top of cutting-edge blockchain technology and intended to be fault-tolerant. This blockchain development framework contains modular components that are interconnected with one another. It is possible to construct your own modules to meet the specific requirements of your application, in addition to utilising pre-built modules that provide functionality such as governance, token transfer, and IBC (Inter-Blockchain Communication) modules.

Are you willing to explore this novel project that unites a wide range of technological innovations? Then keep up to date by checking the website of the Cronos initiative:

https://crypto.org