Cronos (CRO)

Cronos (CRO) is the native cryptocurrency token of Cronos Chain, a decentralised, open-source blockchain built by the Crypto.com payment, trading, and financial services organisation.

Cronos Chain is one of the solutions offered by Crypto.com to promote the worldwide adoption of cryptocurrencies as a method of improving personal control over money, preserving user data, and protecting users' identities. The CRO blockchain is mainly responsible for enabling the Crypto.com Pay mobile payments app.

In the future, Crypto.com intends to expand the scope of the CRO platform to power its other offerings as well.

Cronos was developed as part of the Crypto.com company's objective of "placing cryptocurrencies in every wallet." In June 2016, Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao created Crypto.com under the name "Monaco Technologies GmbH."

Cronos Chain, an Ethereum-compatible blockchain, was built to run alongside the Crypto.org network. This is equivalent to Binance Chain and Binance Smart Chain (EVM-compatible). Cronos Chain's mainnet beta launched on November 8, 2021, and is based on the Cosmos SDK with a proof-of-authority (PoA) consensus mechanism. With Ethereum Virtual Machine (EVM) compatibility, hundreds of DApps created on Ethereum may be migrated to the Cronos Chain. It also supports the Inter Blockchain Communications (IBC) protocol, which enables it to communicate with the Cosmos DApp ecosystem.

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