The Cronos Testnet, Crypto.org’s EVM Chain, Is Now Live
Crypto.com has rolled out the testnet for Cronos, the new EVM-compatible sidechain for Crypto.org designed to empower developers and promote widespread adoption of blockchain technology.
Open-Source Platform Combines Interoperability & Efficiency
Cronos, the Crypto.org EVM sidechain, is officially live on testnet. The newly developed EVM sidechain runs parallel to the Crypto.org Chain, a fully decentralized network offering high-speed throughput and low fees.
Developed in collaboration with the team behind Ethermint, Cronos is an open-source, permissionless platform written in the Go programming language. The platform is designed to help scale the growing Chain DeFi ecosystem by empowering developers with the required technology, funds, and strategies.
Powered by Ethermint, the EVM-compatible high-throughput Proof-of-Stake blockchain, Cronos utilizes Crypto.org’s native CRO token and the Inter Blockchain Communications (IBC) protocol. Together, these attributes enable interoperability between Crypto.org Chain, EVM-compatible chains, and IBC-enabled chains such as the Cosmos Hub, ensuring high speeds and minimal fees.
With the testnet now live, Crypto.org looks forward to supporting developers using Cronos with access to the CRO EVM fund launched by blockchain accelerator Particle B. In addition, dApp developers can also leverage Crypto.com’s massive user base that exceeds 10 million global participants.
Kris Marszalek, Co-founder and CEO of Crypto.com, states, “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.”
Compared to other blockchains that employ the Proof-of-Work (PoW) consensus protocol, Cronos uses the Proof-of-Authority (PoA) protocol, which ensures high throughput and risk tolerance while being far more sustainable given its minimal computational power requirements. The sidechain will run parallel to the Crypto.org Chain, offering all the features, including state-of-the-art security, fault tolerance, instant transactions, minimal fees, transparency, and more.
As an open-source platform, Cronos welcomes any validator partners or code contributors to use, develop, and help further strengthen its infrastructure. Moreover, Cronos is positioning itself as the bridge between several chains between the interoperable and cost-efficient infrastructure alongside embedded sustainability.
With Crypto.com already offering products and services across financial services, payments, and trading verticals, the newly launched Cronos testnet will play a significant role in shaping the company’s vision of accelerating the world’s ongoing transition to cryptocurrency.