Crypto.com supports Cronos cross-bridge mainnet beta release

Cronos announced the launch of a beta version of its mainnet to promote greater interoperability between Cosmos and the Ethereum Virtual Machine (EVM) ecosystem.

Thanks to its inter-blockchain communication (IBC) protocol integration, this version will enable developers to migrate decentralized applications (dApp) and smart contracts from Ethereum and EMV compatible chains to the Cronos network in a low-cost and fast manner . This will provide accessibility to Crypto.com’s strong customer base of 10 million.

Cronos, which is based on the Cosmos blockchain and supported by Ethermint (a proof-of-authority consensus mechanism), runs adjacent to the Crypto.org chain.

A few days before the release, the Cronos team published a Medium blog postal Explain the complex process of connecting assets across chains, such as from the ecosystem of Crypto.com to Cronos, or bridging the platform’s native token CRO from the chain of Crypto.org to the Cronos chain through IBC.

Cronos announced their testnet service in July of this yearAccording to reports, 1.5 million transactions have since been facilitated from more than 600,000 wallet addresses. At the time, Kris Marszalek, the CEO and co-founder of Crypto.com, stated that he expected “the activity on Cronos will surge” and promised to promote the success of developer projects from inception to deployment.

The blockchain accelerator Particle B launched a US$100 million grant fund aimed at distributing an average of US$1 million to 100 projects that deploy its applications on the Crypto.org chain, proving this advocacy.

Related: Crypto.com is the #1 app on the Google Play store in the US

Since its launch, the Cronos ecosystem has attracted more than 20 validators, including Bison Trails, some well-known decentralized oracles, including Chainlink and Band Protocol, Wallets Metamask and Crypto.com, as well as DeFi, NFT and gaming platforms Partnership with the project.

The Cronos roadmap entering the first and second quarters of 2022 outlines the intention of launching the Gravity Bridge mainnet version, as well as the integration of additional IBC channels and the whitelist of IBC tokens.