• CryptoCom launches Cronos mainnet beta for DeFi, NFTs and Metaverse

  • The Cronos Mainnet beta is designed to bring decentralized applications to the CryptoCom ecosystem’s customer base.

    According to a PR shared with CryptoPotato, the project was launched on November 8 and is the first Cosmos EVM chain for DeFi, NFTs and Metaverse.

    Features of the Cronos mainnet

    Compatible with the Ethereum virtual machine, Cronos Mainnet Beta can execute user-submitted smart contract code. It enables developers to port their smart contracts from Etherium and other EVM-compatible chains to the Cronos platform.

    The token standard on Cronos is CRC-20. users can adopt it and bridge selected tokens from the CryptoCom app and exchange by selecting the Cronos network when accessing funds, and chain from CryptoOrg to Cronos via the IBC channel.

    The document further shows that the Cronos bridge is a fully decentralized protocol that utilizes the IBC and Gravity modules in the Cosmos SDK. It supports transfers between the CryptoOrg chain and the Cronos chain.

    In addition to CryptoCom, the Cronos ecosystem is working with some other major players in the digital asset industry such as Chainlink, Metamask, Alchemy, Covalent, and others that may be announced at a later stage.

    To further support the new infrastructure, blockchain accelerator Particle B announced the establishment of the CRO EVM Fund. It will provide up to $1 million per project with at least 100 protocols dedicated to building Cronos applications, tools and infrastructure.

    In addition, Cronos’ bug bounty program will begin soon. It aims to strengthen the ecosystem’s on-chain security as it will have a maximum bounty of up to $1,337,133.7, again sponsored by Particle B.

    It is worth noting that the first Cronos hackathon has already started. It has an end date of November 24, as until then it will encourage developers to spread their ideas and early projects to the Cronos ecosystem.

    What’s next?

    The team behind the project vowed to continue working on further optimizing the network infrastructure and aim for a full launch of the main network. As part of the Cosmos community, connecting more Cosmos-based chain tokens to Cronos via IBC is one of the main goals.

    Another important step is bringing an improved Gravity Bridge and its potential launch on the mainnet. At its core, Gravity Bridge is a bridge solution that connects Ethereum-based chain assets to the Cronos network.

    The team will then reportedly follow feedback from the community to improve the project’s blockchain infrastructure based on customer needs.

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