Able to work with Cronos, Etheruem and Cosmos ecosystems; DeFi is the first blockchain network to support NFT and metadata. As Kriptokoin.com, we will answer the question “What is Cronos” in this article. In addition, we will give other curious details about the project.
What are Cronos?
The platform is an EVM-compliant chain with additional support for IBC networks based on the Cosmos SDK. It is compatible with Ethereum and Cosmos based ecosystems. Cronos is described as a chain where Ethereum and Cosmos intersect. In other words, as an EVM chain built on Cosmos, it enables the chain to benefit from both ecosystems. Thanks to the network, creators can move applications and crypto assets from different chains at low cost, high efficiency and speed. In this way, it is aimed to scale the web 3.0 community.
The network is powered by Ethermint, which enables fast migration of Ethereum and EVM compatible applications and smart contracts. The network built with the IBC protocol allows for bridging with Crypto.org. Additionally, the Crypto.org chain; It is defined as a high speed, low fee, decentralized, open source and energy efficient chain.
Why is Cronos preferred?
- EVM compatibility: This allows developers to easily migrate their decentralized applications to Cronos.
- CRO EVM Fund: Cronos Labs associated with Crypto.org has launched a $100 million fund to support those developing on-chain EVM-dApps (decentralized application).
- Userbase: As part of the Crypto.com ecosystem, Cronos provides project access to 10 million potential solutions and implementers.
- Scalability: Based on the Proof-of-Stake consensus of Tendermint Core, which is faster than the mining implementation used by the Ethereum network.
- Open source: The source code is publicly available for users to audit and improve.
What is the total supply and current price of Cronos?
According to Coinecko data, the total supply of Cronos (CRO) is 30,263,013,692 CRO. The circulating supply is 25,263,013,692 CRO. CRO is currently trading at $0.196790 on cryptocurrency exchanges. However, in November 2021 it rose to the level of $0.965407 and broke its own price record.
What are Cronos? How to get CRO?
The platform is currently traded on major cryptocurrency exchanges. Investors who want to invest in the platform should open an account on one of the exchanges where the platform is traded. Some of the exchanges where Cronos is traded are: Coinbase, Huobi Global, KuCoin, FTX, Gate.io, Bittrex, and Bithumb. Investors wishing to buy Cronos should open an account on one of these exchanges. Additionally, investors can deposit USDT etc into their wallets. must add a cryptocurrency.
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