The live price of Cronos is - per (CRO / USD) with a current market cap of $2.64B USD. 24-hour trading volume is - USD. CRO to USD price is updated in real-time. Cronos is -% in the last 24 hours with a circulating supply of 26.57B.
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Cronos is a decentralized network and cryptocurrency created and launched by Crypto.com in 2021. It is known as an EVM blockchain that is said to be seamlessly compatible with the Ethereum and Cosmos blockchains.
The Cronos network uses Inter-Blockchain Message Transfer (IBC) technology to help users quickly transfer digital assets in and out of Ethereum, Cosmos, and other networks. As a result, Ethereum and other EVM-compatible blockchains are fully interoperable through its digital platform.
Cronos is powered by Ethermint, which helps to quickly migrate decentralized applications (DApps) and crypto assets to and from Ethereum and other EVM-based networks.
Its native cryptocurrency, CRO, is an ERC-20 token that serves as the base settlement token for the Cronos decentralized blockchain network.
Cronos network transactions require Cronos’ native ERC-20 standard token, CRO. CRO is also the governance token of the blockchain network and can be used to vote on important proposals that will shape the future of Cronos. In addition, holding a certain number of CRO tokens can enable traders to obtain different fee tiers when trading on Crypto.com.
The Cronos Network is a product of Crypto.com, a centralized exchange under Monaco Technologies GmbH, originally founded in 2016 by Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao.
The team brings together a wealth of experience from different industries and has a global background from Europe and China. Prior to founding Crypto.com, Marszalek had founded an e-commerce company and a design and manufacturing company focused on consumer electronics.
Gary Or has a background in engineering and computer science and has more than 9 years of experience as a full-stack software engineer. At the same time, Melo and Bao also bring experience from the traditional financial and investment industries.
Together, this well-rounded team launched Crypto.com, which led to further development of the Cronos blockchain.
While the Cronos blockchain is still relatively young, it has seen significant adoption since its launch. According to Cronos Managing Director Ken Timsit, in less than three months after launch, Cronos processed 12 million transactions and locked up nearly $2 billion in various services and protocols on the blockchain.
Cronos has a maximum circulating supply of 30 billion CRO tokens. All CRO tokens in circulation were issued with the launch of the Cronos blockchain. This means that no new Cronos tokens will be minted and no more will be mined. As of now, there are over 25 billion CRO tokens in circulation, which is about 83% of the total supply.
While the total supply of CRO tokens was originally planned to be 100 billion tokens, the Cronos team conducted one of the largest token burns in blockchain history prior to the Cronos mainnet launch. In an effort to further decentralize the Cronos blockchain, 59.6 billion CRO tokens were burned on February 22, 2021. Additionally, an additional 10.4 billion CRO tokens were locked in monthly vesting contracts. When these tokens are released, they will automatically be burned.
These ongoing token burns are designed to address centralization and supply issues. CRO token burns increased the circulating supply from just 24% to over 80%, significantly diluting the token supply and distribution. This helped to decentralize the CRO token and reduce supply. This newfound token scarcity led to a surge in the price of CRO and new demand for the token.
The Cronos blockchain is popular among developers because it allows building highly scalable applications, services, and products that can communicate with other blockchains. Cronos is well suited for developing DeFi applications and blockchain games.
The maximum supply of CRO is said to be 30,263,013,692, and the current circulating supply is 25,263,013,692.
Cronos was created by Crypto.com to improve interoperability within the complex Ethereum network. The network and cryptocurrency were created and launched in 2021.
CRO is the settlement token of the Cronos blockchain network, supporting the migration of DApps and various Ethereum cryptocurrencies. It also facilitates seamless interoperability between assets through the Cosmos Hub, allowing instant exchange of different EVM-based cryptocurrencies.
CRO is the native utility and governance token of the Cronos blockchain. It is used to pay GAS fees when completing transactions on the Cronos blockchain network. In addition, CRO can be used to vote on Cronos blockchain governance proposals and unlock different transaction fee tiers on the Crypto.com centralized exchange.
The EVM-based Cronos network is powered by Ethermint and is known for its low cost and high throughput. Cronos' throughput is said to be enough to efficiently process about 50 million transactions per day, and its confirmation time is the same as the block time (five to six seconds in total), which is faster than most active blockchains.
Of course not. Cronos and Crypto.org are two different blockchains, although both were created and maintained by Crypto.com. They both share CRO as their native token.
When using the Ethereum mainnet and other EVM blockchains, Cronos' EVM chain reduces the high transaction fees common on the Ethereum network.
In addition, CRO provides a low-cost, high-throughput, and fast-confirmation solution to help developers instantly migrate DApps and crypto assets from other chains to optimize the Web3 user experience. As a result, Cronos has gained widespread attention in the fields of DeFi, NFT, and Metaverse.
The Cronos to other currencies exchange rate?
