Cronos announced the launch of its beta mainnet between the Cosmos and Ethereum Virtual Machine (EVM) ecosystems. The launch of Mainnet will allow developers to move decentralized application (DApp) and smart contracts from Ethereum and EVM compatible blockchains to the Cronos network at low fees and high speed, thanks to the Inter-Blockchain Communications (IBC) protocol integration. Thus, access to Crypto.com’s large customer base of 10 million will be provided.
Developed on the Cosmos blockchain and based on Ethermint, Cronos operates side by side with the Crypto.com chain. In the days before the mainnet launch, the Cronos team published a Medium post to explain the complex process of bridging assets on different chains, such as transferring the platform’s token CRO from the Crypto.com ecosystem to Cronos or between the Crypto.com chain and the Cronos chain via IBC.
Cronos announced its testnet services in July this year. Blockchain has since processed 1.5 million transactions for over 600,000 addresses. Crypto.com Co-Founder and CEO Kris Marszalek said at the time that a boom in activity on Cronos was expected and promised developers that they would support their projects from start to finish.
Since its launch, the Cronos ecosystem has attracted more than twenty validator ecosystems, including Bison Trails, Chainlink, Band Protocol, Metamask, and Crypto.com, while also collaborating with many DeFi, NFT, and gaming projects.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.
