Categories: Uncategorized

Crypto.org EVM Chain Cronos Testnet Goes Live

The Cronos testnet, the new Crypto.org EVM chain that runs in parallel with Crypto.org Chain, is now live.

The Crypto.org EVM Chain testnet, according to reports, officially went live today – July 20, 2021. Cronos is well-known for its focus on ensuring scalability in the decentralized finance (DeFi) space. To achieve this, it provides developers with the opportunity to seamlessly port dApps from Ethereum and other EVM-compatible blockchains. Interestingly, it does this with funding from Particle B’s $100 million EVM fund. Notably, dApps will also have access to Crypto.com’s over 10 million strong user base.

Cronos | Ethermint | IBC Protocol

The EVM chain was built using Ethermint, a popular app and smart contracts porting platform. Cronos will also make use of Crypto.org’s native cryptocurrency known as CRO. Its Inter Blockchain Communications protocol (IBC) also links Cronos to the Crypto.org Chain. Therefore, facilitating interoperability with Crypto.org Chain as well as other IBC-compatible chains like Cosmos Hub.

Speaking on the testnet launch announcement, the co-founder and CEO of Crypto.com, Kris Marszalek, disclosed that Crypto.com supports Cronos and its idea. Adding that the decentralized fin-tech company will continue to “[…] provide full support for developers building on Cronos: technical, funding, marketing.” In essence, providing them with everything to bring to life their innovative ideas.

Marszalek also added that he is “[…] confident we will see an explosion of activity on Cronos.”

More on Cronos

Cronos makes use of the Proof-of-Authority (PoA) consensus mechanism. As compared to both the Proof-of-Stake (PoS) and Proof-of-Work (PoW) consensus, the PoA consensus is both better streamlined and scalable. Currently, there are over 20 validators supporting the EVM chain. Also, the entire Cronos team has been receiving top-notch support from its community members.

Both the Ethermint team (Tharsis) and Crypto.org Chain engineers have been working hand-in-hand on the Cronos testnet. Interested persons are invited to review the latest version here. The

Read More

News Bot

Share
Published by
News Bot
Tags: ChainCrypto

Recent Posts

We are now at ‘Feels like a new signing’ stage of the Newcastle United transfer window

So how has this Newcastle United transfer window been for you? Or maybe the question…

31 mins ago

That time the vault was set too low at the 2000 Sydney Olympics and everybody fell

In honor of Suni Lee winning Olympic gold in the women's all-around gymnastics, here's that…

33 mins ago

Intense video of a paddleboarder saved by his lifejacket and waterproof phone pouch

This is intense footage of a paddleboarder who was saved by his waterproof phone pouch…

33 mins ago

Joint parliamentary committee to scrutinise Online Safety Bill

A parliamentary “super committee” made up of MPs and lords has been established to scrutinise…

33 mins ago

Covid-19: TechUK urges government to tweak self-isolation policy for critical datacentre workers

TechUK wants datacentre operators to be allowed to run their own "test and release" protocols…

33 mins ago

Covid-19: Lockdown lifting slows Amazon’s sales growth during Q2

Amazon’s revenue growth rate hits a post-pandemic speed bump, as the lifting of lockdown restrictions…

33 mins ago