Current Cronos (CRO) Price Insights
Cronos (CRO) stands as the native digital asset of the Cronos Chain, a decentralized and open-source blockchain initiative developed by Crypto.com, a leading organization in the spheres of payment, trading, and financial services. The Cronos Chain is among the strategic solutions proposed by Crypto.com to foster the global embrace of cryptocurrency. Its primary aim is to enhance individual control over finances, safeguard user data, and uphold the confidentiality of user identities.
The CRO blockchain plays a pivotal role in supporting the Crypto.com Pay mobile payment application. Looking ahead, Crypto.com plans to broaden the functionalities of the CRO platform, integrating it further into its diverse array of services. The inception of Cronos aligns with Crypto.com’s ambitious goal of “putting cryptocurrencies in every wallet.” Founded in June 2016 by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao, the company was initially named “Monaco Technologies GmbH.”
Cronos Chain is an Ethereum-compatible blockchain designed to operate in tandem with the Crypto.org network, mirroring the relationship between Binance Chain and Binance Smart Chain (EVM-compatible). The mainnet beta of Cronos Chain was launched on November 8, 2021. It is constructed on the Cosmos SDK and employs a proof-of-authority (PoA) consensus model. Thanks to its Ethereum Virtual Machine (EVM) compatibility, numerous decentralized applications (DApps) developed on Ethereum can be seamlessly transitioned to the Cronos Chain. Additionally, it supports the Inter Blockchain Communications (IBC) protocol, permitting interaction with the Cosmos DApp ecosystem.
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