The Crypto.com chain testnet permitting tasks constructed on Ethereum to switch over to its ecosystem from chains appropriate with Ethereum Virtual Machine is now dwell.
In a Tuesday announcement, Crypto.com mentioned it had launched the testnet for its Ethereum Virtual Machine, or EVM, chain referred to as Cronos, operating in parallel to the Crypto.org chain. The chain is geared toward offering builders the power to maneuver tasks from Ethereum and EVM-compatible chains to the Crypto.org ecosystem, giving customers larger entry to DeFi options like good contracts.
“We are going to provide full support for developers building on Cronos: technical, funding, marketing — everything you need to turn your idea into reality,” mentioned Crypto.com CEO and co-founder Kris Marszalek. “Combined with easy dapp portability, I’m confident we will see an explosion of activity on Cronos.”
Crypto.org’s native token CRO might be used for settlements on Cronos. The token is at the moment ranked thirtieth out of all cryptocurrencies on CoinMarketCap on the time of publication, with a market capitalization of greater than $2.5 billion. The corporate reported builders may gain advantage from startup accelerator Particle B offering $100 million in capital to tasks contributing to the Crypto.org blockchain.
Operating on a proof-of-authority consensus algorithm, Cronos is powered by Ethermint, a proof-of-stake chain interoperable with Ethereum and EVM-compatible chains. The testnet is open supply.
Associated: Crypto.com unveils EVM blockchain performance and associated fund
First going dwell on the Crypto.org blockchain mainnet in March, Crypto.com claims to have a consumer base of greater than 10 million folks. This yr, the mission has launched a nonfungible token platform and joined the Visa community to increase the attain of its cryptocurrency bank card.