Crypto.com’s chain testnet that lets projects created on Ethereum to be transferred to its ecosystem from chains compatible with Ethereum Virtual Machine (EVM) is now officially live. The chain bears the name Cronos, and it runs in parallel to the Crypto.org chain.
Kris Marszalek, the CEO and co-founder of Crypto.com, declared: “We are going to provide full support for developers building on Cronos: technical, funding, marketing — everything you need to turn your idea into reality. Combined with easy dapp portability, I’m confident we will see an explosion of activity on Cronos.”
CRO, which represents the native token of Crypto.org is to be used for settlements on Cronos. As of now, the token is positioned at number 30 on CoinMarketCap, as it has a market cap of over $2.5 billion.
Cronos runs on a proof-of-authority consensus algorithm and is powered by Ethermint. The testnet is open source.