Cronos

What is Kronos?

Cronos (CRO), formerly known as Crypto.org Coin, is the native utility token that powers Chain Kronos. The latter is a recently introduced blockchain Crypto.com. They aim to ensure that everyone holds some form of cryptocurrency in their wallet, which in turn will accelerate its mass adoption.

Cronos has several use cases. Typically it is used for payments, trade and financial services.

Simply owning a Cronos token provides the holder with exclusive discounts, increased income and access to financial services. Since Crypto.com’s goal is to enable mass adoption of cryptocurrencies, the team is always looking to expand use cases.

As of June 2022, Cronos price has avoided volatile periods. This is largely due to its relatively short lifespan.

Cronos Token Supported by DeFi – official wallet of Crypto.com, as well as other crypto wallets such as MetaMask, Nabox, Binance wallet, ImToken, And MathWallet.

You can check Cronos price and other stats in the chart above.

What is the Kronos chain?

The Kronos chain is EVM (Ethereum Virtual Machine) interoperable blockchain launched by Crypto.org in November 2021. It works together with Crypto.org network.

It was originally based on the Crypto.org coin (CRO), which is now known as the Cronos token. This new token name came out in February 2022.

In addition to EVM compatibility, Cronos Chain comes with built-in Interblockchain communication protocol. These two features ensure that all dApps running on the Ethereum and Cosmos blockchain can be easily migrated to the Cronos chain. In other words, this means that Cronos Chain is the first blockchain compatible with Ethereum and Cosmos.

Moreover, it works using Proof of Authority (PoA) consensus algorithm. This type of consensus algorithm provides increased security and scalability.

Cosmos SDK Platform contributed to the development of the Cronos network.

Since the Cronos network is new, it does not support many projects. It is mainly used to make payments to Mobile application Crypto.com.

What are the main features of Cronos?

One of the main goals of Crypto.com is to make the process easier make cryptocurrency mainstream. The Cronos crypto token implements this concept through three uses of the token: payments, trading and financial services provided by Crypto.com.

Cronos holders have many ways to benefit from this token.

Staking Cronos coins can serve source of passive income. Crypo.com provides unique opportunities to make profits through betting.

Firstly, you can simply stake your Cronos tokens on Exchange Crypto.com. Cronos’ custody of crypto-digital assets allows network participants to become validators. This means that you can also take on the role of a validator, staking your tokens and receiving a share of the transaction fees.

Additionally, Crypto.com provides prepaid cards called Metal Visa cards Crypto.com. Owners enjoy exclusive benefits and rewards such as discounts, zero commissions, rebates and airport lounge access.

To get a Crypto.com Visa card, you must have Cronos. By staking your Cronos token for a total of 180 days, you will be eligible to apply for the card.

Using CRO tokens on Crypto.com Payment The platform allows you to receive up to 10% cashback. Additionally, these payments can earn you gift cards from a variety of industries.

When you transact on the Cronos chain, you can use your CRO tokens to pay a transaction fee.

As discussed in the “What is Cronos Chain” section, EVM compatibility is guaranteed compatibility with Ethereum smart contracts.

Moreover, Cronos is capable of processing more transactions than Ethereum.

Who developed Kronos?

Cronos was launched in late 2018 by the financial services company. Crypto.com.

The core team at Crypto.com is also responsible for the launch of the Cronos token. It consists of 4 people, including CEO Chris Marsalek, CTO Gary Ora, CFO Rafael Melo and Managing Director Bobby Bao.

Chris Marszalek successfully graduated from the Adam Mickiewicz University in Poznan, Poland. Before launching Crypto.com, he was the co-founder of Starline Polska, YIYI and BEECRAZY. Crypto.com was the first blockchain-based project led by Kris Marsalek.

Co-founder Gary Or attended the University of Hong Kong and received a bachelor’s degree in computer science. Prior to launching Crypto.com, he worked with Chris Marszalek at BEECRAZY and in other software development roles.

Rafael Melo attended the Federal University of Minas Gerais for his bachelor’s degree and the University of North Carolina at Chapel Hill for his MBA. One of his main achievements is raising a significant amount of money to finance Ensogo.

Bobby Bao He has successfully completed studies at three universities, including the University of Melbourne, New York University Stern School of Business and the College of William and Mary. Prior to launching Crypto.com, Bobby gained experience working at China Renaissance Bank.

Crypto.com was launched two years before Crono, in 2016.