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Cronos priceCRO
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About Cronos (CRO)
About Cronos
Cronos, previously known as Crypto.com Chain, is an open-source, decentralized blockchain platform designed to support a wide array of decentralized applications, ranging from DeFi and payments to GameFi and NFTs. Since its introduction in 2020, the blockchain has undergone a complex process of rebranding and name changing. Initially named Crypto.com Chain, it was rebranded to Cronos in February 2021.
The chain belongs to Crypto.com and is one of the solutions that the exchange offers to the public. It runs parallel with the Crypto.org Chain, another blockchain belonging to Crypto.com. The relationship between Cronos and Crypto.org Chain is akin to the relationship between BEP-2 Chain and BEP-20 Chain.
Cronos aims to be the foundational infrastructure for an open metaverse, serving the next billion Web3 users and providing them with the ability to experience the full promise of self-custody of their digital assets.
Resources
Whitepaper: https://whitepaper.cronos.org/
Official website: https://crypto.com
How Does Cronos Work?
Cronos is an Ethereum Virtual Machine (EVM) compatible blockchain powered by Ethermint and built with the Cosmos SDK. It supports the Inter-Blockchain Communication (IBC) protocol, allowing for seamless integration and communication between different blockchain ecosystems.
Cronos offers high transaction throughput, fast finality, and low transaction fees. Its Proof of Authority (PoA) consensus mechanism ensures scalable and environment-friendly transaction processing. The platform can deliver faster, cheaper, and carbon-neutral transactions compared to traditional proof-of-work chains.
Cronos uses the Tendermint consensus engine, a Byzantine Fault Tolerant protocol, ensuring instant finality, scalability, and security against malicious behavior. In terms of sustainability, Cronos is more energy-efficient compared to Proof-of-Work networks.
Cronos Labs supports the development of decentralized applications (dApps) in various domains including DeFi, NFTs, Gaming Metaverse, and more. Cronos Play, a suite of developer tools, streamlines the creation of gaming and GameFi applications.
Connectivity and Interoperability.
Cronos emphasizes interoperability, allowing users to transfer tokens from and to other IBC-enabled chains in a decentralized manner. The roadmap includes further enhancements in connectivity and interoperability, making Cronos a hub for cross-chain communication.
What Is CRO Token?
The CRO token is an integral part of the Cronos ecosystem. The initial total supply of CRO was 100 billion, but a lot was burned, so the current total supply of CRO is 30.26 billion. The current circulating supply of CRO is 25.2 billion.
It's used by end-users to pay network transaction fees, and validators collect it in the form of transaction fees. The token plays a vital role in the governance of the Cronos chain, and it's also involved in various ecosystem incentives and rewards.
Cronos validators also hold a dedicated staking token used for governance purposes, separate from the CRO token. This staking token represents their voting power in consensus and other on-chain decisions.
Conclusion
Cronos, with its rich history and evolution from Crypto.com Chain, stands as a testament to innovation and adaptability in the rapidly changing world of decentralized technology. Its focus on scalability, security, sustainability, and interoperability positions it as a key player in the Web3 landscape.
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See moreShare link:In this post: Jan Van Eck projects that Bitcoin’s value per unit could reach half the value of gold in the near future, capping at $300K. The VanEck boss says the projections are reasonable as Bitcoin breaks above $77K for yet another ATH. Bitcoin ETFs’ rise in demand depicts a possible increased role in the U.S. financial system.
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CRONOS Social Data
In the last 24 hours, the social media sentiment score for CRONOS was 3.3, and the social media sentiment towards CRONOS price trend was Bullish. The overall CRONOS social media score was 32,760, which ranks 62 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with CRONOS being mentioned with a frequency ratio of 0.08%, ranking 23 among all cryptocurrencies.
In the last 24 hours, there were a total of 1,451 unique users discussing CRONOS, with a total of CRONOS mentions of 811. However, compared to the previous 24-hour period, the number of unique users increase by 8%, and the total number of mentions has decrease by 12%.
On Twitter, there were a total of 15 tweets mentioning CRONOS in the last 24 hours. Among them, 13% are bullish on CRONOS, 0% are bearish on CRONOS, and 87% are neutral on CRONOS.
On Reddit, there were 94 posts mentioning CRONOS in the last 24 hours. Compared to the previous 24-hour period, the number of mentions increase by 9% .
All social overview
3.3