CryptoCom Launched Cronos Mainnet Beta to Target DeFi, NFTs, and Metaverse

Cronos Mainnet Beta is a project to provide decentralized applications to customers in the CryptoCom ecosystem.

According to CryptoPotato’s PR, the project was launched today, November 8th, and it is the first Cosmos EVM Chain for DeFi, NFTs and Metaverse.

The Spesifics of Cronos Mainnet

Cronos Mainnet Beta, compatible with the Ethereum Virtual machine, can execute user-submitted smart contracts codes. Developers can port their smart contracts to the Cronos platform from Ethereum or other EVM-compatible chains.

CRC-20 is the token standard for Cronos. It can be used to bridge certain tokens between the CryptoCom App or Exchange. Users can select the Cronos network for depositing and withdrawing.

Further, the document reveals that the Cronos Bridge is a fully decentralized protocol using the IBC/Gravity modules in the Cosmos SDK. It allows transfers between the CryptoOrg and Cronos chains.

Cronos was not only a partner with CryptoCom but also with Metamask and Alchemy. Other key players in digital asset technology include Chainlink, Metamask and Covalent.

The CRO EVM fund was created by Particle B, a blockchain accelerator. It will grant up to $1,000,000 per project to at most 100 protocols that are committed to building Cronos toolsings, applications, and infrastructure.

The Cronos bug bounty program, which will be available to anyone who has a Cronos bug, will also start soon. The Cronos bug bounty program will be aimed at increasing the ecosystem’s on-chain security. It will be sponsored by Particle B and will offer a maximum bounty up to USD 1,337 133.7.

It’s worth noting, however, that the Cronos Hackathon has already begun. The Cronos Hackathon will end on November 24th. Developers are encouraged to bring their early-stage ideas and projects to the Cronos ecosystem until then.

What’s Next?

The project team pledged to work on optimizing the network infrastructure, and working towards a full-scale mainnet launch. One of the major goals of the Cosmos community is to bridge more Cosmos-based Chain tokens with Cronos via IBC.

An important step is to bring an improved Gravity Bridge to the mainnet and potentially roll it out. Gravity Bridge, at its core is a bridge that connects Ethereum-based chain assets with the Cronos network.

The team will then reportedly listen to the feedback from the community and adapt the blockchain infrastructure to meet the needs of customers.

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