What Is The CRONOS Token And How Successful Will It Be In The Future?

ShopSmarts.ai - What's CRONOS
ShopSmarts.ai – What’s CRONOS

Crypto.com has become one of the largest centralized exchanges in the world in a shorter period. The functionalities, perks, and utility offered by its token and chain are something that can surprise customers. Furthermore, the rate at which the Crypto.com network has expanded its ecosystem and infrastructure is incredible and could hint towards a bright future for the company and its customers. 

We have included the use cases, ongoing growth, current, and past performances, price, and future price predictions of the CRO token in detail that will help you understand it better. If you have not been familiar with Crypto.com or if you might be interested in knowing the network better, this article will walk you through every benefit offered by Crypto.com’s native token. 

What is Cronos?

To understand what is Cronos, you must have an idea of what Crypto.com is about?

What is Crypto.com (CRO)?

Founded in 2016, Crypto.com is an innovative digital currency exchange known for providing easily accessible technology solutions to investors, cryptocurrency holders, and traders around the world. The platform has a wide range of crypto projects and crypto assets along with worthwhile features which include deep liquidity, immersing events such as discounted token distributions from Syndicate, competitive fees for high-volume traders. 

Crypto.com Chain is the native blockchain of Crypto.com which is employed for providing secure, seamless, and cost-saving transactions for the users. The chain is aimed towards the growth and adoption of cryptocurrencies and is the driving engine for the Crypto.com ecosystem. 

The CRO Token (Cronos)

Along with the Crypto.com chain, Crono is also a product of the Crypto.com ecosystem and is known as the native (intermediary) cryptocurrency of the Crypto.com platform. It can also be used as network fees for converting crypto to fiat (USD, EUR, etc.). Cronos is also an EVM-compatible sidechain that runs in parallel with the Crypto.org Chain. 

Just as Binance has  Binance Chain and Binance Smart Chain which is EVM-compatible, Crypto.com has Crypto.org chain and Cronos chain (EVM-compatible). Cronos is powered by Ethermint which is a PoS chain interoperable with Ethereum and runs on a Proof of Authority (PoA) consensus algorithm.

The token is aimed at growing the Chain DeFi ecosystem which it does by enabling developers to move smart contracts and apps from Ethereum and other EVM-compatible chains. Cryptocurrency users can now facilitate their financial services and transactions through innovative solutions offered by the Crypto.com ecosystem which is a next-generation public blockchain.

From payment solutions to trading functionalities, the platform provides ease and security at their best. The CRO token enables users to enjoy advanced asset use cases including payments or peer-to-peer banking with the help of smart contracts among other things. By doing so, it aims to empower the Crypto.org Chain and Cronos Chain. 

The CRO (Cronos) Token 

Token metrics

Token Name: Crypto.org Coin

Ticker: CRO

Token Type: Utility and Governance

Blockchain: Cronos

Total Supply: 30,263,013,692 CRO

Circulating Supply: 25,263,013,692 CRO

Token Standard: In the process

Contract: In the process

Token Allocation

The CRO coin has no pre-sale or public sale because it is only distributed to the secondary market. 

How does the Token Benefit the Users?

CRO Token Use Case

Since Cronos is the utility token of the Crypto.com chain and the Crypto.com exchange, users can enjoy several use cases and benefits through the CRO token:

  • Payments

The Crypto.com users can make payments with Crypto.com Pay, Crypto.org Chain, and Visa Cards.

  • Financial services

The platform Crypto.com and its token Cronos offer financial solutions through Crypto.com Earn, Crypto.com Credit & Crypto.com DeFi Swap.

  • Trading Facility 

Users can trade with a wide range of crypto assets using the Crypto.com App which is a cryptocurrency trading exchange platform.

  • NFT

You can get NFTs and improve your status in the ecosystem.

 The token allows you to create future games and metaverses.

Core Features of the Cronos Token

  • Scalability 

As compared to Ethereum, TPS on Cronos is higher which makes the Cronos token more rapid and more affordable to execute smart contracts.

  • EVM-compatibility 

Cronos can facilitate and support any DAOs, smart contracts, or Dapps deployed on Ethereum with the help of Ethermint.

  • Easy deployment

If users want to deploy Cronos network rapidly for any purpose, they can follow the deployment instruction provided by the Crypto.com network.

  • Interoperability 

Cronos can interoperate and act as a bridge to the Crypto.org Chain, and other IBC-enabled chains including Cosmos Hub with the help of IBC which is a supporting protocol for the Crypto.com platform and which also enables interaction between blockchains.

Benefits of Using the CRO Token

The solutions for the typical problems attached with blockchain implementation is now offered by the Cronos chain and its token Cronos which are listed below:

  • Rapid Transactions and Affordable Fees

Crypto.com envisions a better trading solution for its customers by enabling rapid transactions through their scaling solutions that increase as transaction load increases. This way it aims to serve as a better payment network. The Cronos chain also aims to support about 50,000 transactions per second that, if executed, can beat the Bitcoin blockchain in terms of transaction speed.

  • Crypto.com Chain uses Decentralized Technology

Several solutions have emerged in the space of the decentralized finance system (DeFi) and the Crypto.com network tries not to lose any grounds and use the benefits offered by the DeFi system to its core. As compared to the payment systems that rely on a central 3rd party, the CRO ecosystem verifies transactions by spreading confirmations across a network of computers which prevents cyber activities and attempts to make the system more secure.

  • Traders get Enhanced Blockchain Support 

Crypto.com has dedicated developers who strive to offer easier CRO blockchain integration. The CRO network has introduced their software development kit (SDK) that CRO customers can utilize for incorporating the CRO blockchain solutions with a lower bar of technical prerequisite knowledge.

How to Get the Cronos (CRO) Token?

The following exchanges are offering CRO tokens. If you want to get them, try one of them. 

DEXs

If you want to use a decentralized exchange, try using Uniswap, Coin98 Exchange, SushiSwap, etc.

CEXs

If you want to use a centralized exchange then you can try Coinbase Exchange, Crypto.com Exchange, Houbi Global, etc.

How to Buy the CRO Token?

If you want to buy the Cronos token through the Coin98 Exchange, then visit exchange.coin98.com and  follow the below steps:

  • Connect the Coin98 Extension wallet.
  • Select Sushi Swap.
  • Choose the trading pair by searching CRO. if the results are not demonstrated then you can enter the contract of CRO into the search engine bar.
  • Select the amount you want to swap and adjust the transaction fees.
  • Tap on Approve.

How to Store the CRO Token?

If you want to store the CRO tokens on Coin98 Wallet, try using these easy steps:

  • Open your Coin98 Wallet.
  • Tap on Receive which appears on the home screen.
  • Search for the Cronos token.
  • Tap on the correct result.
  • Copy the wallet’s address.
  • Send CRO to the selected address.

Frequently Asked Questions on the Cronos Token

What is the price of Cronos today?

The current price of CRO is $0.3826 according to coinmarketcap.com.

Is CRO worth an investment? Should we buy it?

The Cronos token and Crypo.com ecosystem are supported by the second largest centralized exchange in terms of market capitalization which adds much value to the significance, value, importance, and advantage of the token. Moreover, the network has already a wide user base with more than 10 million customers.

How to buy the CRO token?

If you wish to trade with the Cronos token, you can purchase it through some cryptocurrency exchanges such as the Crypto.com exchange, KuCoin,  Coinbase Exchange, Huobi Global, etc.

Can Crypto.com Coin be considered a good investment In 2022?

According to the CRO price forecasts made by several coin analysts, the Crypto.com Coin price will increase and it will prove to be a worthwhile investment for the traders. Currently, the price of the Crypto.com Coin (CRO) is $0.3826, however, by the end of 2022, the average price of the Crypto.com Coin is expected to be $0.9039.

Will Crypto.com Coin (CRO) price increase in the future?

According to the benefits and utility offered by the Crypto.com token CRO, the price of Cronos will increase in the coming future.

Will the CRO price make it to $10?

Currently, this price is difficult to achieve. However, there will be at least a significant rise in its price shortly.

The rapid growth of cryptocurrency, in general, has motivated many developers and entrepreneurs to venture into the field of cryptocurrency. These past few years have seen many innovative and lucrative crypto projects thrive amid millions and billions of competitors and Crypto.com is not an exception. The project is currently making waves in the industry with its token Cronos that has much to offer. If we take a look at its utility and benefits, the token and the network will soon grow as a leading crypto project.

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