Blockchain

Crypto.com launches EVM blockchain function and related funds

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In the next few months, Crypto.com’s blockchain will allow projects built on Ethereum to be transferred to its ecosystem through Ethereum Virtual Machine (EVM) compatibility. The company also launched a related fund to support projects of interest.

According to a public statement provided by the company to Cointelegraph on Friday, the EVM function will be enabled on the Crypto.org blockchain on July 14 this year. The statement stated: “EVM support will be implemented as a side chain.”

Crypto.com is currently a well-known entity in the crypto field for its CRO assets Rank As of the time of publication, CoinMarketCap is among the top 50 crypto assets by market capitalization. Crypto.com is online Crypto.org blockchain mainnet In March 2021

By introducing EVM into the Crypto.org Chain, the company hopes to provide its blockchain with greater versatility in a larger crypto ecosystem. The CEO and co-founder of Crypto.com said: “EVM support will allow simple porting of applications from other chains, thereby driving the growth of the exponential ecosystem of Crypto.org, which is a completely decentralized The open source public chain has high speed and very low cost,” Kris Marszalek said in a public statement.

The statement details that in addition to promoting the upcoming EVM function, it also provides a new source of funding for industry start-ups. Called the CRO EVM Fund, it will target early projects developed on the Crypto.org blockchain. The fund hopes to provide a large amount of funds for 100 projects to help them carry out their work. The fund is led by the startup accelerator Particle B. Start-ups can receive up to $1 million from the fund.

“EVM support makes startup super easy,” Gary Or, the founder of Particle B, said in a statement, adding:

“Projects can rely on our funding far more than the initial funding. As the founder and chief technology officer, I have a deep understanding of the continuous support that startups need. As we build the Crypto.org chain ecosystem together, we will work with Investment companies work closely together.”