Introduction to Cronos
Crypto.com is a leading cryptocurrency payment and investment platform offering a wide range of financial services. These include buying, selling, and storing cryptocurrencies, a mobile app, an exchange for trading digital assets, a secure wallet, and a Visa card for spending crypto. The platform also features its own Ethereum Virtual Machine (EVM) called CronosScan, with Cronos (CRO) as its native token. Founded in 2016 in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo, Crypto.com rebranded in 2018 after acquiring its current domain.
Key Features of Crypto.com
- Multi-Service Platform: Combines trading, storage, and spending of cryptocurrencies.
- Cronos Blockchain: Powers the ecosystem with DeFi, NFT, and gaming applications.
- Global Expansion: Secured a Virtual Asset Service Provider license in Dubai in 2023.
Cronos Blockchain Advancements
Cronos serves as the foundational blockchain for Crypto.com, focusing on scalability and user experience. Key 2023 developments include:
- DeFi & NFT Expansion: Enhancing decentralized finance and digital collectibles.
Technical Upgrades:
- Cronos Rollups to boost transaction throughput.
- Cronos Gravity Bridge for seamless ERC-20 transfers between Ethereum and Cronos.
- EVM Compatibility: Aiming to match leading chains in speed and efficiency.
👉 Explore Cronos’ latest updates
Cronos (CRO) Token Utility
CRO is the native ERC-20 token of Crypto.com, integral to its ecosystem. Uses include:
- Payments: For goods/services and transaction fees.
- Rewards: Discounts on Crypto.com Visa cards.
- Trading: Pair with other cryptocurrencies on the exchange.
Historical Background
Founded as "Monaco" in 2016, the company rebranded to Crypto.com in 2018 after acquiring its domain. This shift aligned its identity with its core mission in the crypto space.
FAQs
Q: What is Cronos (CRO)?
A: Cronos is Crypto.com’s native token used for payments, trading, and rewards within its ecosystem.
Q: How does Cronos improve scalability?
A: Via Rollups and Gravity Bridge, enabling faster, cheaper transactions.
Q: Where can I buy CRO?
A: On major exchanges like Crypto.com and OKX.