Cronos is a blockchain developed by Crypto.com, featuring the CRO token, used for powering transactions, securing the network, and accessing various features within the Crypto.com ecosystem.
Crypto.com Chain aims to enable seamless and cost-effective cryptocurrency transactions through a decentralized network. It employs Proof of Stake (PoS) consensus to validate transactions, reducing energy consumption and increasing scalability.
The project was founded in 2016 by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao. Kris Marszalek serves as the CEO of Crypto.com. In 2017, Crypto.com launched its platform with a focus on providing a range of cryptocurrency-related services. The Crypto.com Chain mainnet was unveiled in 2021, aiming to enhance scalability, security, and interoperability.
By 2024, Crypto.com has continued to expand its ecosystem and services significantly. The launch of the Crypto.org Chain mainnet was a pivotal step forward, facilitating DeFi applications and fostering greater adoption. The Crypto.com ecosystem introduced the CRO token to facilitate transactions, staking, and participation in network governance.
In 2024, Cronos has introduced various enhancements, including improved transaction speeds and lower fees, further solidifying its position as a leading blockchain platform. The integration of layer-2 solutions has improved scalability, making it more attractive for developers and users alike. Additionally, the Cronos network has expanded its partnerships within the DeFi space and NFT markets, enabling a more vibrant and diverse ecosystem.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Cronos (CRO) and review the project details below.
What is the allocation for Cronos (CRO)?
According to the official website, firstly CRO has a total supply of 100 billion coins that originated from five secure multi-signature wallets, however 70 billion CRO was burned in 2021. Thus, the total supply of CRO is 30 million now.
- 30% was used for Secondary distribution/launch incentives
- 20% was used for Network long-term incentives
- 20% was allocated to Capital reserve
- 20% was allocated to Ecosystem grants
- 10% was allocated to Community development
What is the supply schedule for Cronos (CRO)?
According to Crypto.com COO’s article, 'secondary distribution and launch incentives' part was released in batches on a daily basis over five years from November 14, 2018; ‘Capital reserve’ part was frozen until Nov, 7, 2022; ‘Network Long-Term Incentives’ was frozen unit Nov. 7, 2022; 'Ecosystem grants' was frozen unitl the launch of Crypto.com Chain Mainnet.
For the specific distribution mechanism, you can read this article https://www.gemini.com/cryptopedia/crypto-com-blockchain-ecosystem-overview#section-cryptoeconomics ;If you want to find the real-time circulation of CRO tokens, please visit https://cronoscan.com/.
Cronos In-depth Report Generated by AI - For further details, please review:
https://alpha.sosovalue.xyz/trade/ETC-USDT-BINANCE
Cronos (CRO) is a notable cryptocurrency in the dynamic realm of digital currencies, especially with its significant developments in 2023. Originating as the native token of Crypto.com, a centralized cryptocurrency exchange, CRO has evolved into the native cryptocurrency of the Cronos Chain, a decentralized, open-source blockchain developed by Crypto.com. This chain is significant for its role in expanding the offerings of Crypto.com and enabling a comprehensive service ecosystem for users.
In 2023, Cronos has focused on strategic advancements, particularly in enhancing user experience and technological capability. These developments aim to scale the network and solidify Cronos as a key player in the Web3 community. Key areas of focus include DeFi, NFT, and gaming applications, with an emphasis on improving interoperability with other chains and optimizing chain performance for handling more transactions. This is part of their roadmap, which includes the deployment of Cronos Rollups and the "Cronos Next Level" project to maintain high throughput without compromising application composability.
A significant feature of the Cronos network is its support for Inter Blockchain Communication (IBC), allowing efficient token transfer between chains. It also boasts compatibility with popular wallets like MetaMask, facilitated by its compatibility with the Ethereum Virtual Machine (EVM). Furthermore, Cronos Chain uses a unique consensus mechanism, Proof of Authority (PoA), enhancing transaction speed and security.
The Cronos ecosystem has seen growth in decentralized applications (dApps), with Cronos Labs intensifying support through various programs like hackathons and grants. This has nurtured existing initiatives and attracted new talent and ideas.
2023 also marked the launch of the Galileo update, taking Cronos Chain from beta to version 1.0. This update brought significant technical improvements, including optimized node storage, reduced node startup times, and enhancements for greater EVM/Cosmos interoperability. The Galileo update is expected to make the chain more stable, efficient, and secure, potentially influencing the value of the CRO token and attracting more developers and users to the platform.
Despite facing challenges in 2022, with its value dropping significantly, Cronos (CRO) has shown signs of recovery in 2023, indicating a positive trend for the future of the token and the Crypto.com ecosystem. This trend is supported by ongoing updates, new partnerships, and increasing interest from the blockchain and cryptocurrency communities.
Cronos (CRO) belongs to the sector of centralized exchanges (CEX) in the cryptocurrency industry. Centralized exchanges play a vital role as they provide a centralized location for trading digital assets, where traders and investors can buy and sell cryptocurrencies. This sector has seen significant growth over the years due to the increasing popularity of cryptocurrencies.
In conclusion, the CEX sector, to which Cronos (CRO) belongs, is adapting and evolving in response to market demands, regulatory changes, and the increasing popularity of decentralized platforms. The sector is expected to continue playing a crucial role in the crypto industry, with a focus on enhancing security, stability, and offering diverse and innovative services to users.
The tokenomics of Cronos (CRO) are structured as follows:
In summary, the tokenomics of Cronos involve an initial large-scale token burn to reduce the maximum supply, followed by a structured allocation of the remaining tokens for various purposes within the network. The ongoing management of the supply involves a unique burning mechanism that is expected to evolve, providing a balanced and resilient economic model for the token.
The team behind Cronos (CRO) and its development and management includes key individuals from Crypto.com, which was founded by Kris Marszalek, Rafael Melo, Bobby Bao, and Gary Or. These founders played a significant role in steering the direction of the platform and its native token, CRO.
Regarding the funding history of Cronos, the project has experienced several key milestones. The Cronos mainnet chain was launched on November 8, 2021. In terms of financial support, Particle B, a Web3 startup accelerator part of the Cronos ecosystem, launched the Cronos Ecosystem Grants program in December 2021 with an initial allocation of USD 100 million. This program represents a substantial investment in the development and expansion of the Cronos ecosystem.
Looking at the early funding rounds, Crypto.com (the company associated with Cronos) was founded in 2016 and held an initial coin offering (ICO) in 2017. This ICO was for their now-defunct MCO cryptocurrency, which was a precursor to CRO. CRO itself was officially launched in December of 2018 through an airdrop via the smartphone app, marking the beginning of its public distribution and use. On May 17, 2017, Cronos raised $26.20 million in funds at a price of $0.10 per token, selling a total of 261.96 million tokens.
These key milestones in funding and development illustrate the evolution of Cronos from its early stages to its current form, backed by significant financial support and led by a team with a clear vision for the project.
List all important events and milestones in the development process of CRO.
These milestones represent key steps in the development and expansion of the Cronos ecosystem, marking its evolution from inception to its current status as a significant player in the cryptocurrency space.
The progress and future roadmap of Cronos (CRO) in 2023 encompass several pivotal developments and initiatives aimed at enhancing user experience, technological capabilities, and overall ecosystem growth. Here's a detailed look at the significant developments and the roadmap ahead:
Ecosystem Expansion and Interoperability Initiatives:
Enhanced Technology and Scaling Solutions:
Decentralization and User Experience Strategy:
Developer and Ecosystem Support Programs:
Developer Tools and Network Optimization:
Release of the Galileo Update:
Cronos Ecosystem Unleashed:
Cronos Discover Portal Launch:
Supercharging DeFi Ecosystem:
NFT Ecosystem Growth:
Gaming Ecosystem Expansion:
Redefining Digital Identity:
Venturing into the Cosmos Ecosystem:
Road Ahead:
These developments highlight Cronos's commitment to innovation and adaptation in the dynamic blockchain and Web3 landscape, positioning it as a significant player in the future of decentralized technology.
Atomic Wallet's Complete Guide on Crypto.com (CRO):
BTCC's Overview on CRO Crypto:
CRO Crypto:
CoinMarketCap for CRO Price and Marketcap:
CoinMarketCap's Guide on Staking CRO:
CoinDesk for CRO Price and Chart:
https://www.coindesk.com/price/cronos/
Crypto.com Official Website:
These resources provide a broad range of information on CRO, from basic overviews and price tracking to specific guides on staking and purchasing.
The current valuation and potential future prospects of Cronos (CRO) are as follows:
Short-Term Price Predictions:
Long-Term Price Predictions:
These predictions are based on current market trends and expert analyses. However, it's important to note that the cryptocurrency market is highly volatile and subject to rapid changes. Investors and enthusiasts should consider these predictions as part of a broader analysis and not as definitive forecasts.
Cronos is a blockchain developed by Crypto.com, featuring the CRO token, used for powering transactions, securing the network, and accessing various features within the Crypto.com ecosystem.
Crypto.com Chain aims to enable seamless and cost-effective cryptocurrency transactions through a decentralized network. It employs Proof of Stake (PoS) consensus to validate transactions, reducing energy consumption and increasing scalability.
The project was founded in 2016 by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao. Kris Marszalek serves as the CEO of Crypto.com. In 2017, Crypto.com launched its platform with a focus on providing a range of cryptocurrency-related services. The Crypto.com Chain mainnet was unveiled in 2021, aiming to enhance scalability, security, and interoperability.
By 2024, Crypto.com has continued to expand its ecosystem and services significantly. The launch of the Crypto.org Chain mainnet was a pivotal step forward, facilitating DeFi applications and fostering greater adoption. The Crypto.com ecosystem introduced the CRO token to facilitate transactions, staking, and participation in network governance.
In 2024, Cronos has introduced various enhancements, including improved transaction speeds and lower fees, further solidifying its position as a leading blockchain platform. The integration of layer-2 solutions has improved scalability, making it more attractive for developers and users alike. Additionally, the Cronos network has expanded its partnerships within the DeFi space and NFT markets, enabling a more vibrant and diverse ecosystem.
Above are only for introduction, not intended as investment advice.