The Cronos blockchain is a decentralized virtual currency that uses the Proof of Authority consensus protocol to operate. This protocol is greener, more efficient, and scalable than its predecessors. It also uses a native currency called CRO, which is earned by verifying and processing transactions on the network. Like Ethereum, Cronos is a platform for building smart contracts, but it is cheaper than the latter. Its features include deFi, which allows users to earn passive income and NFT, which allows for fast transactions. Another feature of Cronos is the Metaverse, which is a platform where users can build their own future games.
The Cronos blockchain is an EVM-compatible platform. It is built using the Cosmos SDK and Tendermint Core consensus engine, which gives developers the flexibility to create EVM-compatible Dapps. Additionally, the network is interoperable, allowing EVM-compatible Dapps to be easily ported to it. Cronos is also a Proof-of-Authority network, which means that transactions on the network are verified by a carefully selected set of validators. As a result, it offers high security and throughput.
The Cronos platform is open-source, and is compatible with other blockchains, including Ethereum. The Cronos SDK facilitates rapid porting of DApps and smart contracts. The platform also supports the IBC protocol, which allows Cronos to communicate with other chains. This makes asset transfers easy between chains. Additionally, Cronos can support native tokens of other blockchains.
