Crypto.com Chain (CRO) is a decentralized mobile cryptocurrency payment solution. The CRO token is the native token of the Crypto.com Chain and will primarily be used for intermediary currency settlement across various assets. All participants using the Crypto.com Chain are required to use CRO tokens to pay for block transaction fees. According to the website, the “Crypto.com Chain will be a high performing native blockchain solution, which will make the transaction flows between crypto users and merchants accepting crypto seamless, cost-efficient and secure.”
Crypto.com (formerly called Monaco) is a Hong Kong-based company founded in 2016 by Kris Marszalek. Before Crypto.com, Marszalek was the CEO of Ensogo and BEECRAZY, helping both companies grow from $0 to over $100 million in revenue.
In addition to the Crypto.com Chain, the project’s ecosystem also includes the Crypto.com Wallet App (to buy, sell, and send cryptoassets) as well as the MCO Visa Card (to use cryptoassets in the real world). MCO Visa Cardholders can spend and withdraw the fiat equivalent of their cryptocurrency online and offline at all Visa approved merchants. To get access to premium MCO Visa cards that have exclusive benefits like 2% rewards, users must stake a certain amount of MCO tokens in the Crypto.com App for at least 6 months.
A total of 100 billion CRO tokens will be issued. From December 2018 to June 2019, about 170 million CRO tokens were airdropped to MCO token holders. The amount of CRO tokens received was dependent upon the MCO balance in the user’s Crypto.com wallet over the previous twelve months. The airdropped CRO tokens have a one-year lock-up period.
The Crypto.com Chain will utilize Tendermint Core as its consensus algorithm. Users can earn CRO tokens as rewards by becoming a validator who processes and verifies transactions on the blockchain. If a user does not qualify as a validator, they can stake their CRO tokens with a validator and earn CRO token rewards.
The Crypto.com Chain aims to support 50,000 transactions per second with a confirmation time of less than a second.
The CRO token follows the ERC-20 token standard and can be held in any Ethereum wallet.
In September 2019, the Crypto.com Chain public testnet was launched. The release came ahead of schedule, less than one year after the announcement of the Crypto.com Chain.Read More
Today's Crypto.com Chain price is $0.029294, which is up 2% over the last 24 hours. Crypto.com Chain's market cap is $359.74M. 24 hour CRO volume is $1.88M. It has a market cap rank of 27 with a circulating supply of 12,280,365,297. Crypto.com Chain is traded on exchanges. Crypto.com Chain had an all-time high of $0.104384 5 months ago. Over the last day, Crypto.com Chain has had 3% transparent volume.