The Cronos Blockchain
How Cronos could change the game in mainstream investment for cryptocurrency
Cronos is a blockchain network that has shown tremendous potential. The network is unique in that interoperates with both the Ethereum and Cosmos ecosystems. Looking for a promising blockchain network with strong growth capabilities?
2022 could prove to be a year racked with unexpected highs and lows in the crypto universe. With that, it’s crucial to understand how Cronos and its native token CRO can prove to be an investment worth looking into for gains.
What is Cronos?
For those who aren’t aware, Cronos is the native token of crypto.com. Crypto.com is one of the most well known cryptocurrency exchanges. It is estimated at around 50 million users. It launched in November 2021. CRO markets itself as an “EVM-compatible chain designed to support the Creator Economy with applications such as FeFi and GameFi, ultimately serving as foundational infrastructure for the Metaverse.”
The CRO development team is being led by CEO and Co-founder, Jesse Powell, a veteran in the cryptocurrency space. The blockchain ecosystem is aimed to represent innovation and new utilization from Web3 by millions of users.
Cronos’s mission is to make DeFi accessible to everyone. It aims to provide an easy-to-use platform that anyone can use to get started with cryptocurrencies. Specifically, it aims to be the most user-friendly DeFi protocol. Lastly, it hopes to combine the power of both Ethereum and Cosmos technologies.
What Makes Cronos Unique?
As with many other hot projects in the DeFi space, Cronos offers its users true decentralization, fast transactions, and high yield farming. However, unlike other projects, Cronos has been able to show serious potential. This has helped it stand out as a real game changer among the DeFi blockchain space.
Cronos is one of the earlier projects to offer a decentralized exchange (DEX). This allows users to trade directly from their wallets without having to go through a centralized exchange. This is a big step forward for DeFi. It allows users to retain complete control of their funds while still being able to trade freely.
The Cronos DEX, its decentralized exchange, is exceedingly fast. Trades are being settled in just a few seconds. This is thanks to the use of the Cosmos SDK, which Cronos has integrated into its platform.
Cronos has made a name for itself
Cronos has gone out of its way to establish itself as a true finance company. The Cronos ecosystem and it currently is expanding itself among key markets in the United States, Singapore, and other locations.
It’s no surprise the Crypto.com brand received a hefty marketing asset when it rolled out its global ad campaign, which featured celebrity Matt Damon in its ‘Fortune Favors the Brave’ commercial and basketball athlete Lebron James in its ‘The Moment of Truth’ commercial.
Multimillion dollar deals with Formula One ($100 million) and Staples Center ($700 million) are just some of the most notable investments made into this advancing ecosystem, and with more than 350,000 wallet transactions since November 2021, it’s clear that Cronos is gaining traction.
Even with big money and marketable names coming its way, Cronos is still considered to be undervalued when compared to other tokens, according to an article by Nasdaq, which means there is plenty of room to grow.
What’s on the horizon for Cronos?
Just like any other cryptocurrency out for investment, Cronos is part of the overall blockchain universe, meaning that its dollar value can rise and fall depending on the market, but that is not why Cronos and the wider Crypto.com ecosystem has made itself an obvious investment opportunity.
Earlier this year, Cronos welcomed Sphynx Labs into its network, meaning the Cronos network is still growing with a long list of projects being integrated. That combined with numerous validators like Audit.one, Europa, SwissCro, and many others has made it an attractive investment opportunity.
It is continually advancing its marketability for NFTs and the DeFi space, and its emphasis on cutting down transaction time while being EVM-compatible means Cronos is becoming an impressive investment option. With Crypto.com’s focus as a financial company added to its celebrity featured ad campaigns, Cronos is likely to go places for the blockchain space.