Cronos

Cronos CRO

Rank 42
Rank 42
Cronos Kurs in USD:

$0.0933127

Maktanteil
$2,479,463,916.091
26,571,560,696 CRO
24 Stunden
$18,398,408
197,169,404CRO
Circulating supply
26,571,560,696 CRO
Max : 30000000000

What is Cronos

Cronos (CRO) is the digital token of the crypto exchange Crypto.com. CRO is the native cryptocurrency of both the Crypto.com open source blockchain and the Cronos EVM chain, which run in parallel with each other. Cronos‘ EVM chain claims to be the first Ethereum-compatible blockchain built using the Cosmos software development package.

Originally known as Monaco, the project changed its name in 2017.

As most people in the crypto space know, Crypto.com is a financial services platform that offers trading, payment channels (via an app or Visa cards), an options marketplace, and NFT trading.

All of the applications within Crypto.com are powered by the CRO cryptocurrency.

Due to its specific design and a consensus proof-of-stake mechanism called Tendermint, CRO tokens cannot be mined.To give access to anyone looking for exposure to cryptocurrencies, the founders of Crypto.com created a platform to meet the needs of investors, traders and businesses.

CRO Offering

CRO’s total supply is capped at 30 billion tokens, after initially burning 70 billion tokens.Another 10.4 billion are locked in smart contracts and are being burned every few months.

20% of this supply goes to general capital, 20% to long-term network incentives, 10% to community development, 20% frozen for ecosystem subsidies, and the remaining 30% will be circulated on a daily basis over 5 years.

CRO Stacking

Anyone who stacks (wagers) tokens on the network has a chance to become a validator and validate transactions. CRO staking on the Crypto.com network rewards users, the benefits can be:

  • Access to VISA cards on Crypto.com
  • Cashback rewards, discounts and other benefits associated with your wallet on the platform
  • Higher APR

Stacking rewards are generated every 5-6 seconds and depend on the level of the user.For example, the reward is 10% for level „Jade Green“ and 12% for level „Obsidian“. The rewards are paid every week.

Specifics of the CRO blockchain

Crypto.com’s blockchain is built on Ethereum, making it ERC20 compliant.

CRO’s blockchain architecture is designed to facilitate mobile payments through various specialized features that are achieved through the use of multiple nodes.Each node supports a separate layer as described below.

Council nodes

Council nodes manage transactions, validation and settlement, and receive processing fees by receiving compensation for each transaction they process.

Buyer Nodes

These nodes provide escrow services, manage payments for other users, and provide other services and checks related to merchant transactions.They are compensated based on the amount of each transaction they process.

Payment agent nodes

Settlement agents sell tokens to CROs for stable currencies and settle their own transactions to ensure that merchants have access to stable price conversion options after settlement. The nodes in question are compensated with a fixed fee for each fiat payment they process.

Community nodes

Community nodes help customers and merchants to transact directly and serve as a home base for other users who wish to monitor various transactions.

Use cases

As previously mentioned, Crypto.com offers the following categories of services:

  • Payments: Crypto.com Pay, Visa cards
  • Trading: via the Crypto.com app and the exchange
  • Financial services: decentralized products, passive income, loans
  • Metaverse: NFT
  • Blockchain Infrastructure: Crypto.org Chain, Cronos