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- Cronos has launched its cross-bridge mainnet beta version in a bid to offer great interoperability between Cosmos and Ether
- Crypto.com supports the transfer via Cosmos network
- Kris Marszalek expects an explosion of activities on the blockchain newtork
Cronos is a blockchain project that is built on the Ethermint network. The project supports rapid porting of apps and smart contracts from the Ether and other EVM-compatible chains. The blockchain network is highly scalable and can process more transactions each minute than the Ether blockchain. Ultimately, the network makes transactions faster, cheaper, and greener to execute on smart contracts. Recently, the blockchain has launched its cross-bridge mainnet beta for the community. Notably, crypto.com now supports transfers through the beta mainnet.
Cronos cross-bridge beta is launched
In July, Cronos introduced its testnet. Since the testnet launch the blockchain has facilitated 1.5 million transactions. After witnessing the growth, the network rolled out its mainnet beta in a bid to facilitate greater interoperability among Cosmos and Ethereum Virtual Machine (EVM) ecosystems.
It is noteworthy that the official beta release of the mainnet enables developers to port decentralized applications and smart contracts from the Ether and EMV-compatible chains to its network. Indeed, the project focuses on doing so at a low cost and fast speed due to its Inter-Blockchain Communications protocol integration. Furthermore, the aforementioned measure will offer accessibility to crypto.com’s 10 million strong customer base.
Crypto.com’s CEO wants an explosion of activity
Cronos has been built upon the Cosmos blockchain and is powered by Ethermint, a Proof-of-Authority consensus mechanism. Notably, in the initial days the team behind the blockchain network had published an official post explaining the intricate process of bridging assets cross-chain. SInce then , the blockchain has facilitated 1.5 million transactions from more than 600k wallet addresses.
According to Kris Marszalek, the CEO of crypto.com, an explosion of activities on Cronos is what he expects. Moreover, he wants the users of its platform to foster the success of devs’ projects from inception to deployment.
Crypto.com supports Cronos’ network
The advocacy of crypto.com has been demonstrated by the launch of a $100 million grant fund. The funds have been granted by the blockchain accelerator Particle B, and is designed to equally allocate $1 million to 100 projects that are being deployed on the chain of crypto.org. Indeed, since launch Cronos has already tracted more than 20 validators which also includes Bison Trails, several decentralized oracles, and cryptocurrency wallets.
However, the Cronos roadmap of Q1 and Q2 of 2022 outlines the intentions to introduce the mainnet version of Gravity Bridge. And also the network has plans to integrate additional IBC channels and IBC tokens whitelist.
