Always pay attention to the network in which you are sending the tokens — Ethereum and Cronos are two different chains, and making a transaction to the wrong address will result in a loss of funds. Cronos (CRO) is a utility token designed by Crypto.com to facilitate transactions within its blockchain and financial ecosystem. You can find it on some centralized exchanges, but it wasn’t intended as an investment. If you’d like to consider it an investment, https://currency-trading.org/education/how-to-get-nft-drops-how-to-launch-an-nft/ you should talk to a professional financial advisor about adding it to a portfolio. According to Crypto.com’s mission and vision statements, its overall mission is to “Accelerate the World’s Transition to Cryptocurrency” by providing people with digital financial services. The IBC Protocol allows Cronos to communicate with other Cosmos-based chains that are IBC-enabled (e.g., Cosmos Hub, Osmosis, Injective), allowing for easy asset transfers across them.
- While it may have similarities to Ethereum in terms of being a blockchain platform for dApps and being EVM-compatible, they are separate and distinct networks.
- Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions.
- As an innovative blockchain network, Cronos is now pushing the envelope toward making cross-chain interoperability a reality.
- If you already own some CRO in your wallet, you’ll know that you can secure it using your hardware wallet.
- Interoperability brings more utility to the network, making value transfer and service exchanges amongst multiple blockchains more seamless.
- His association with the “Saturnian” Golden Age eventually caused him to become the god of “time”, i.e., calendars, seasons, and harvests—not now confused with Chronos, the unrelated embodiment of time in general.
The Inter Blockchain Communications (IBC) protocol enables interoperability and bridging to the Crypto.org chain and other IBC-enabled chains, such as Cosmos Hub. Practically this means that you will be able to take any crypto-asset created on an Ethereum-compatible chain or IBC-compatible chain and use it to trade, lend, borrow, earn, stake, vote, and play on Cronos. BNB was previously called Binance Coin and as the name suggests, was a utility token of the Binance exchange. Like CRO, it can still be used on the original platform for a trading fee discount or staked through Binance’s products. However, its own blockchain grew in use to become a full-fledged ecosystem of its own.
Easy For Developers to Build Upon
Cronos aims to scale DeFi, NFT and Metaverse applications massively and to facilitate frictionless access by end-users. On the other hand, if the validators sign conflicting messages/blocks at the same height, they are not only jailed, but also ‘slashed’, meaning that they lose their stake and are blacklisted forever. Proposals, such as a request to change some parameters of the network, are made by the Cronos community and are subject to voting. There is a minimum number of CROs that must be filed in order to submit a proposal, and the duration of the voting period lasts 14 days. For starters, you earn higher interest rates on both CRO and other crypto deposits. You can also qualify for better crypto rewards if you have a Crypto.com prepaid debit card.
- Buying any cryptocurrency involves risk, and even if you’re the world’s biggest Lakers fan, you should only invest money you can afford to lose with Crypto.com.
- Like Binance Chain as well as BSC, this is a decentralized ledger that is EVM-compatible.
- Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance.
- Other prose works, such as the Description of Greece by Pausanias (ca. 115–ca. 180 CE), give important information about how Cronus was worshiped in the ancient world.
- Some of the myths of Saturn/Cronus are summarized by Hyginus or “Pseudo-Hyginus” in his Fabulae (first century CE or later).
Our experts have done the research to pick out the select few top crypto exchanges today. However, the decision to pull back on rewards for CRO holders is worrying on two fronts. First, there’s nothing to stop the company from reducing rewards even further in the future. Second, it could be a sign that Crypto.com overextended itself on high-profile advertising and now can’t sustain itself. We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others.
Cronus & Uranus
Using the CRO blockchain, the Crypto.com Payment android application may be used to make payments. In the coming years, the CRO platform will be used to drive further Crypto.com offerings. Popularised by Vitalik Buterin, the blockchain trilemma posits that between scalability, security, and decentralisation, only two can be achieved. However, needing to verify the identities of their validators means that the network is being run by that select group of nodes, effectively centralising the network. In 2022, several other ecosystem bootstrapping initiatives will be launched to raise awareness of Cronos among Dapp developers and to support builders who are working on innovative DeFi, NFT, and Metaverse projects.
Is Crypto.com Better Than Coinbase?
Consequently, while the Greeks considered Cronus merely an intermediary stage between Uranus and Zeus, he was a larger aspect of Roman religion. The Saturnalia was a festival dedicated in his honour, and at least one temple to Saturn already existed in the archaic Roman Kingdom. Cronus is mentioned in the Sibylline Oracles, particularly in book three, wherein Cronus, ‘Titan,’ and Iapetus, the three sons of Uranus and Gaia, each receive a third of the Earth, and Cronus is made king overall. After the death of Uranus, Titan’s sons attempt to destroy Cronus’s and Rhea’s male offspring as soon as they are born. However, at Dodona, Rhea secretly bears her sons Zeus, Poseidon, and Hades and sends them to Phrygia to be raised in the care of three Cretans.
Name and comparative mythology
Additionally, CRO is also available on other networks as an ERC-20 token on the Ethereum network. First, Crypto.com is a company that designed its own closed-source blockchain for the purpose of offering several decentralized financial services through one provider and platform. Ethereum is intended to be built upon by anyone and is open source, allowing anyone to view the programming, suggest changes, or create their own products. Crypto.com https://topbitcoinnews.org/white-label-trading-platform-for-online-brokers/ was created with the vision of providing cryptocurrency access to everyone by attempting to accelerate the world’s transition to cryptocurrency. To do this, the founders envisioned a platform that meets the decentralized needs of investors, traders, consumers, and businesses. They decided that a platform that offered these services would be best served with its own blockchain rather than creating a fork of an existing one.
That is feature-filled EVM-compatible dApps and cross-chain compatibility with Cosmos SDK-based networks. Scalability is also a big attraction to entice dApp developers on the Ethereum network to port their apps to Cronos. Cronos network relies on Tendermint Core’s Proof of Stake (PoS) engine to achieve https://coinbreakingnews.info/blog/the-best-free-vpn-2020-2/ consensus. PoS provides that validators stake a portion of their assets in a smart contract to incentivize good behavior while validating transactions. CRO is instrumental in powering the entire Crypto.com ecosystem and acts as the native token on both Crypto.org and the Cronos blockchains.
Is CRO a Good Investment 2022?
Before writing full-time, David worked as a financial advisor and passed the CFP exam. If you don’t already have an account, it may be easiest to go with the Crypto.com exchange. Cronus learned from Gaia and Uranus that he was destined to be overcome by his own children, just as he had overthrown his father.
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