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What is Cronos (CRO)? Everything you need to know about CRO Coin

publish_by Razel at 27 tháng 11 2021

Many people are becoming familiar with Cronos from Crypto.com, one of the largest centralized exchanges in the world. Cronos is currently building their infrastructure and ecosystem at an amazing growth rate. Have you ever been curious about its rapid growth?

Today, let's dive deeper into the Cronos ecosystem to discover this new promised land with Coin98 Insights!

What is Cronos?

Cronos is an EVM compatible sidechain running in parallel with the Crypto.org Chain. Before launching Cronos, the Crypto.com ecosystem encompasses the Crypto.com chain and Crypto.com centralized exchange.

Cronos Website: https://cronos.crypto.org/

To see the relationship between Cronos and Crypto.org, let's look at this simple comparison:

  • If Binance has Binance Chain and Binance Smart Chain (EVM-compatible),
  • Then Crypto.com has Crypto.org chain and Cronos chain (EVM-compatible)

See also: What is Crypto.com?

Cronos is running on a Proof of Authority (PoA) consensus algorithm and is powered by Ethermint - a PoS chain interoperable with Ethereum. It aims to massively scale the Chain DeFi ecosystem, by allowing developers to rapidly port apps & smart contracts from Ethereum and other EVM-compatible chains.

Cronos' Core Features

  • EVM-compatible: With Ethermint, Cronos can support any smart contracts, DAOs or Dapps deployed on Ethereum
  • Scalable: TPS on Cronos is higher than that of Ethereum. Therefore, Cronos is faster & cheaper to execute smart contracts
  • Interoperable: IBC is a protocol that allows interaction between blockchains and will help Cronos to interoperate and bridge to the Crypto.org Chain, and other IBC-enabled chains, such as Cosmos Hub
  • Easy deployment: Users can follow the deployment instruction to quickly deploy Cronos network for any purpose.

Detailed Information about CRO coin

CRO token price today

You could use Coin98 Markets to update CRO token price: https://markets.coin98.com/currencies/crypto-com-chain

Coin98 Markets is a website that helps users get updates of the real-time prices and view the detailed information of a Token Metric from any project. More specifically, you can access the home page or the community page of a project, or filter the coins/tokens by Market Cap, Trading Volume, etc.

CRO price is updated regularly at Coin98 Markets. (updated: 27th Nov 2021)

CRO token metrics

  • Token Name: Crypto.org Coin
  • Ticker: CRO
  • Blockchain: Cronos
  • Token Standard: Updating...
  • Contract: Updating...
  • Token Type: Utility and Governance
  • Total Supply: 30,263,013,692 CRO
  • Circulating Supply: 25,263,013,692 CRO

CRO Token Allocation

CRO coin only distributes to the secondary market. It means CRO has no pre-sale, no public sale.

CRO Token Use Case

CRO is a utility token of the Crypto.com chain, Cronos and the Crypto.com exchange. Crypto.com uses CRO in all aspects of their ecosystem, including:

  • Payments: Crypto.com Pay, Crypto.org Chain and Visa Card.
  • Trading: Crypto.com App & Exchange.
  • Financial services: Crypto.com Earn, Crypto.com Credit & Crypto.com DeFi Swap.

One can say that CRO is widely used in the Crypto.com ecosystem and it continues to grow the utility by being a native token on Cronos.

How to get CRO Token

You can get the CRO Token through these exchanges:

  • DEXs: Coin98 Exchange, Uniswap, SushiSwap,...
  • CEXs: Crypto.com Exchange, Coinbase Exchange, Houbi Global,…

How to buy CRO Token

You can buy CRO through Coin98 Exchange by performing the following steps at: exchange.coin98.com

Step 1: Connect Coin98 Extension Wallet.

Step 2: Select Sushi Swap.

Step 3: Choose the trading pair:

  • Search CRO.
  • If the result does not come up, you can paste the contract of CRO into the search box: 0xA0b73E1Ff0B80914AB6fe0444E65848C4C34450b

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

How to buy CRO coin on Coin98 Exchange

How to store CRO

You can store CRO tokens on Coin98 Wallet with these simple steps:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search CRO Token.

Step 3: Click on the correct result, copy the wallet address and send CRO to this address.

How to store CRO coin on Coin98 Wallet

Team, Investors, and Partners

Team

  • Kris Marszalek | Co-Founder & CEO: Before, Kris has been a founder in the tech space 3 times before
  • Rafael Melo, CPA | Co-Founder & CFO: Rafael has 15+ years of experience in finance, he was a CFO at Mobile Payment Solution
  • Gary Or | Co-Founder & Founder of Particle B: Hacker, Product Designer, Entrepreneur, 9 years of full stack engineering experience (RoR, Elixir, Golang)
  • Bobby Bao | Co-Founder & Head of Corporate Development: Leader of corporate development efforts in Asia. Bobby is deeply connected within the blockchain industry in the region. Named to the 2018 Forbes’ 30 Under 30 List.
Core Builders

Investors

Updating...

Partners

Cronos has a large number of partners. Some of their crucial partners are in Infrastructure, Validators, blockchain analytics and Risk Management fields.

Cronos' Partners

Other prominent names include: Huobi Pool, Chainalysis, Validation Capital, and 10+ other partners.

Roadmap and Updates

Updates: Let’s look at the four stages Cronos has gone through to assess its development period.

July - August 2021

  • Introduced Cronos and the testnet.
  • Announced the $100M fund to support developers building on Cronos.
  • First partnered with Chainlink and Band Protocol oracles.

September, 2021

  • Announced Cronos Hackathon with a $500,000 Prize Pool including DeFi, NFT, GameFi, Web3, Metaverse aspects.
  • Introduced VVS finance, the first AMM on Cronos.

October, 2021

  • Launched Cassini - the Cronos Incentivised Testnet with a $300,000 Prize Pool.
  • Held live Speak Session with well-known developers and staff from Cronos’ partnership network, such as Chainlink, Band, Cosmos, Enjin,...

November 2021

  • Introduced Tectonic, the first money market on Cronos.
  • Cronos Mainnet Beta went live.
  • Introduced the Cronos Bug Bounty Program with a nearly $1.4M Prize Pool.
  • DeFi legos are initially porting to Cronos such as Beefy Finance, Debank, autofarm.network, Crystal Finance, Annex Finance...

Next stage

  • Bridging Cosmos assets to Cronos.
  • Rolling out Gravity Bridge.
  • Cronos Upgrade.

As can be seen, Cronos is hustling to expand the network. It quickly announced the $100M Fund to support developers after releasing the testnet.

Within only three months, Cronos announced $500,000 in value for the Cronos Hackathon, followed by $300,000 in value for the Cronos Incentivised Testnet, and $1.4M for the Cronos Bug Bounty Program. It is clear that the team cares about network security and the incentive scheme, which aims to encourage as many developers as possible to come to this chain.

This strategy worked. Although Cronos has just been introduced for five months, it is now ready to adopt the DeFi protocol and welcome users as well as the money flow.

Cronos chain was built at a breakneck pace, implying that Crypto.com had long planned to build their own blockchain.

Is CRO a good investment?

CRO & BNB tokens comparison

Because of its efficiency and numerous usage in the Binance ecosystem, BNB can be considered a standard exemplar for other CEX tokens. Binance has made an attempt to offer as much value to BNB as possible in order to increase the BNB buy demand.

Turning back to CRO, it is also backed by the second largest centralized exchange in terms of market capitalization (currently $14B according to Coingecko). Cronos might benefit from the Crypto.com user base, which has more than 10M+ customers to help kickstart Cronos in its early stage.

Cronos Ranking

Moreover, by using only CRO in all the aspects of the Crypto.com ecosystem, this alone sets CRO tokens apart not only as a store of value but also with various use cases.

However, having many use cases is one thing. Another thing is we should observe how the Crypto.com ecosystem operates and what their strategies are, such as marketing, partnership, etc. to help steer the future of Cronos, the Crypto.org chain and Crypto.com CEX. It will take time for sure.

$100M Ecosystem Grant Program

From the beginning, Cronos received a $100M Ecosystem Grant Program named Particle B to support developers and partners. Particle B will grant up to $1M per project to at least 100 projects committing to build applications, toolings and infrastructures on Cronos. This incentive program not only activates Cronos but also encourages developers to come to Cronos and build their products.

Cronos' Total Value Locked

Another notable milestone is that, in just two weeks, Cronos has reached 1M+ transactions with $700M+ TVL. It's a good start, and we can see that Cronos has a lot of potential for growth in the future. Let’s see whether or not they are becoming the second BSC!

Similar Project

Binance Smart Chain: A notable exemplar for Cronos. The BNB token is used for both the network and the Binance Centralized Exchange. Its market capitalization is only behind BTC & ETH and it is also the third largest coin in the market.

Conclusion

Coin98 Insights hopes you have gained all of the important information about CRO including its features and highlights throughout this topic.

If you have any questions about Cronos or want to know more about Cronos, please feel free to leave a comment below and join Coin98 Community for further discussions about Crypto.

Razel

The more you practice the better you’ll be

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