Beyond $CRO: Meet the Cronos Ecosystem

Many people associate Cronos with the CRO token, as it is the primary token in this ecosystem. However, it is essential to understand there is much more to Cronos than just the token. It has a thriving ecosystem where developers can build next-generation applications, services, and products.

The Underpinning Cronos Technology

To start this closer look at what Cronos entails exactly, one must start at the beginning. The network was initially designed to be Ethereum Virtual Machine (EVM) compatible, enabling another layer for developers and users to explore. Moreover, Cronos is compatible with other EVM-compatible chains to unlock broader interoperability and cross-chain support for applications, smart contracts, and assets.

Furthermore, Cronos is the first blockchain network to secure interoperability between Ethereum and Cosmos. Both blockchains are built very differently, yet they allow for similar features like smart contracts, dApps, decentralized finance, NFTs, etc. Actively seeking interoperability between these networks will pave the way for a better-scaling Web3 user experience. In addition, it rants developers the option to port applications and assets from other chains at low cost and with fast finality.

Under the hood, Cronos is built on Ethermint, a scalable and high-throughput proof-of-stake blockchain fully compatible with Ethereum. Interestingly, Ethermint is built using the Cosmos SDK, facilitating the execution of vanilla Ethereum as a Cosmos application-specific blockchain. By leveraging this technology, Cronos supports both Ethereum and Cosmos-based apps and assets.

Some people may recall CRO is the native asset of Cronos, formerly known as Crypto.com. Cronos has a bridge to the Crypto.org Chain, a decentralized and energy-efficient public chain with high speed and low fees. The Crypto.org chain facilitates interoperability with IBC-enabled chains like Cosmos Hub and Terra. The CRO token is the native asset of the Crypto.org Chain, but it is used as Cronos' base settlement currency.

Why Developers Take Notice Of Cronos

There are various reasons for builders to explore the Cronos ecosystem. It is a network designed for interoperability and with support for two of the biggest ecosystems: Ethereum and Cosmos. Combined with low costs, high throughput, and fast finality, it makes for an excellent layer to build on and benefit from the benefits both Ethereum and Cosmos provide. Cross-chain solutions are the future, as they enable value transfers, assets interchanging, and connectivity without compromising scalability potential.

Second, the building on Ethermint - built on Tendermint - enables a much bigger transaction capacity than other public blockchains. Developers need fast, cheap, efficient, and green solutions to run and execute smart contracts. All those benefits will roll over to the user interfacing with these contracts, resulting in a smoother user experience.

Third, it is very easy to deploy applications on the Cronos ecosystem. Builders have access to a portable Web3 app code with libraries and standards supporting any EVM chain. Using familiar tools speeds up the deployment process, giving builders more time to focus on what they are building rather than worry about which chain it will be deployed on.

Last but not least, the IBC capabilities of Cronos work both ways. It enables the use of CRO across other networks to unlock extra utility. However, it also ensures assets of other ecosystems can be supported by Cronos, bringing value to the interconnected ecosystem. As the number of IBC chains increases, so too will the potential use cases and applications for Cronos.

Image Credit: Cronos Medium

Other Core Benefits To Consider

There are a few other reasons why Cronos has attracted so much attention from developers lately. Anyone can seamlessly transfer assets between Cronos and the Crypto.org Chain through the Cronos Bridge. Additionally, both chains support the execution of different smart contracts and languages, including Solidity and CosmWasm. It ensures developers can stick with their preferred language without having to learn a new one from scratch.

It is also worth noting how the Crypto.com and Cronos connection can provide benefits. Crypto.com provides support and resources to the Chronos ecosystem, and multiple products under the Crypto.com banner support Cronos. It is another way of helping users bridge assets from the Crypto.com application and exchange to Cronos, among other things.

One final thing to consider is Cronos Labs. The team coordinates the development of the Cronos technology and its public network while promoting the development of its growing dApp ecosystem. Its efforts include a grant program, upcoming accelerator programs, and tailored partnerships with game developers.