Cronos (CRO)
Cronos is a versatile blockchain ecosystem renowned for its high speed, energy efficiency, and low transaction fees. It supports decentralized finance (DeFi), gaming, and Web3 applications, aiming to be the foundation for an open metaverse. The ecosystem comprises three main chains: Cronos zkEVM, a high-performance Layer-2 secured by Ethereum; Cronos EVM, which is Ethereum-compatible and Cosmos SDK-based; and Cronos POS, a Cosmos-based chain for payments and NFTs. Transaction fees within this ecosystem are paid using the $CRO token or zkCRO, a yield-bearing version of CRO.
Cronos EVM
| Ticker | CRO |
| Category | Smart Contract Platform |
| Website | https://cronos-pos.org/ |
| @cronos_chain | |
| Telegram | Cronos_POS_Announcements |
The Cronos EVM chain is constructed on Ethermint using the Cosmos SDK. It integrates the Inter-Blockchain Communication (IBC) protocol, facilitating interoperability with Ethereum, Cosmos, and other chains. This allows assets to be transferred across these platforms, leveraging smart contracts and the Ethereum application ecosystem. Utilizing a Proof of Authority (POA) consensus mechanism, Cronos EVM emphasizes high transaction throughput and low fees, offering a cost-effective and eco-friendly alternative to Ethereum's mainnet. Developers benefit from Cronos Labs, which supports the growth of DeFi, GameFi, and the overall Cronos ecosystem.
Cronos POS
Formerly known as the "Crypto.org Chain," Cronos POS Chain is a blockchain based on the Cosmos SDK, primarily used for $CRO staking. It facilitates various Crypto.com applications like Crypto.com Pay, enabling fast and secure transactions globally. Its design supports cryptocurrency spending in everyday scenarios, offering a decentralized solution for crypto payments.
Cronos zkEVM
Launched by Cronos Labs in 2024, the Cronos zkEVM Chain is a zero-knowledge (ZK) Layer-2 blockchain developed with partners like Matter Labs and Crypto.com. This chain enhances scalability and broad adoption within the Cronos ecosystem, utilizing zkCRO as the gas token. It employs a zero-knowledge proof system for scalable and cost-efficient transactions on Ethereum security, supporting innovative features like "triple yield" within DeFi.
Cronos Labs
Cronos Labs serves as the Web3 startup accelerator and ecosystem development fund for Cronos. Initially known as "Particle B," it manages a $100 million fund to foster innovation and growth in DeFi, gaming, and related applications within the Cronos ecosystem.
Features
Crono Play
The Cronos Play Gaming SDK integrates gaming platforms with the Cronos network, enhancing player experiences through in-game NFT functionality and crypto wallet authentication. Compatible with Unity, Unreal, and C++, the SDK is expanding to support additional game engines.
CRO
Cronos (CRO) is the utility token within the Cronos ecosystem, used to pay fees across the blockchain networks. The decentralized Cronos POS network manages the CRO token, ensuring secure management of the token supply and its emissions through governance proposals. For instance, a 2023 proposal introduced a regular CRO burning mechanism.
zkCRO
zkCRO serves as the native gas token for the Cronos zkEVM blockchain. Developed by Veno Finance and backed by LCRO, zkCRO represents $CRO staked on the Cronos POS chain. It is a yield-bearing token that appreciates over time through accrued staking rewards. Users can obtain zkCRO by depositing CRO on Ethereum via the Cronos zkEVM Bridge, providing immediate liquidity and additional benefits like insurance against slashing penalties.
Partnerships
Cronos has formed partnerships with several organizations to enhance its ecosystem, including Crypto.com, Dora Factory, Caldera, Moralis, Protofire, Chainalysis, Blockdaemon, RockX, Witnet, Gelato Network, SubQuery, OmniHub, Band VRF, CoinGecko, MicroSwap, Holdstation, Covalent, and VIA Labs.