Crypto.com supports Cronos cross-bridge mainnet beta launch

Cronos announced the beta launch of its mainnet in an effort to improve interoperability among the Cosmos (EVM) and Ethereum Virtual Machines (EVM).

Developers will be able to port decentralized applications from Ethereum and EMV-compatible chain chains to the Cronos network with this release at a low cost. The Cronos protocol integration allows for fast and easy inter-blockchain communications (IBC). This will make Crypto.com’s 10 million-strong customer base more accessible.

Cronos is built upon the Cosmos blockchain, powered by Ethermint — a consensus mechanism that proves authority — and operates alongside the Crypto.org Chain.

Epic Day 1 at @cronos_chain Mainnet Launch https://t.co/pFc4PzqqHR App integrated https://t.co/pFc4PzqqHR Exchange integrated DeFi Wallet integrated Cronos Bridge live First CRC20 assets created #CRO ATH Huge thank you to the entire #CRO community
Crypto.com (@Kris_HK) November 8, 2021

The Cronos team published a Medium post explaining the complex process of bridging cross-chain assets — e.g. from Crypto.com’s ecosystem, to Cronos, or bridging the platform’s native token, CRO from Crypto.org to the Cronos chain via IBC.

Cronos’ testnet service was announced in July and has since processed 1.5 million transactions using more than 600,000 wallet addresses. Kris Marszalek, Crypto.com CEO and Co-Founder, stated that he expected an “explosion in activity on Cronos” and pledged to support the success of developers’ projects from conception to deployment.

This advocacy was demonstrated through the launch of a $100 million grant fund by Particle B, a blockchain accelerator. It will equally allocate $1,000,000 to 100 projects that deploy their applications on Crypto.org Chain.

Related:Crypto.com is #1 in the Google Play Store US

The Cronos ecosystem has attracted more than 20 validators since its launch. This includes Bison Trails and a number prominent decentralized oracles like Chainlink and Band Protocol wallets MetaMask, Crypto.com and partnerships with decentralized finance, gaming platforms, and other projects.

Cronos’ roadmap for Q1-2022 includes plans to launch Gravity Bridge mainnet, and integrate IBC tokens whitelist and additional channels.

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