Cronus ruled harshly and Cronus in turn was defeated by Ammon’s son Dionysus (3.71.3–3.73) who appointed Cronus’ and Rhea’s son, Zeus, as king of Egypt (3.73.4). Dionysus and Zeus then joined their forces to defeat the remaining Titans in Crete, and on the death of Dionysus, Zeus inherited all the kingdoms, becoming https://cryptominer.services/cryptocurrency-investing-bible-the-ultimate-guide/ lord of the world (3.73.7–8). The transaction fee is equal to the computing power used by the EVM layer to process the transaction (measured in gas) multiplied by the gas price. Each block has a total compute capacity of 10 M gas (gas is a unit that measures the computing power required to execute EVM transactions).
- Popularised by Vitalik Buterin, the blockchain trilemma posits that between scalability, security, and decentralisation, only two can be achieved.
- Its main features are high transaction throughput, fast transaction finality, and low transaction fees.
- Cronos is 90% more energy efficient than Proof of Work (PoW) blockchains.
- Its maximum supply is 30 billion units, following a decision by Crypto.com to burn 70 Billion in February of 2021.
- Adam received his master’s in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology.
Of these 30 billion units, 25.26 billion are already in circulation (September 2022). The token’s original deployment was as an ERC-20 token on the Ethereum blockchain, then migrated in the Cosmos ecosystem. CRO has many use cases and serves for different activities within the whole https://cryptonews.wiki/how-to-buy-hxro-how-to-buy-hxro-buy-hxro-in-4/ ecosystem. The growth of its wider ecosystem is worth watching as it shows it is one of several blockchains that’s taking market share from Ethereum (ETH). Per DeFi Llama, Cronos is in the top 10 blockchains according to its total value locked (TVL) with a TVL of over $2 billion.
CRO can be purchased on Crypto.com’s exchange; however, access to the exchange is not yet available to U.S. residents. Crypto.com’s suite of products, such as the Crypto.com App, Crypto.com Exchange, and DeFi Wallet, are currently supporting Cronos. Users can seamlessly bridge assets from the App and Exchange to Cronos wallet addresses. In this guide, we will look at the EVM-compatible Cronos Chain, a parallel network to Crypto.com’s Crypto.org Chain. Specifically, we will consider its value proposition, use cases, features, and how it works. Additionally, there is a brief comparison between Cronos and Crypto.org Chain, and Ethereum.
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Cronos is an EVM chain built on the Cosmos SDK, an open-source blockchain framework powered by the Tendermint consensus engine that allows the chain to enjoy the benefit of both ecosystems. Cronos is an EVM-compatible blockchain created on top of the Cosmos-SDK launching in November 2021. The network is an addition to the Crypto.com ecosystem running parallel to Crypto.org blockchain. Zeus took this mixture to Cronus, and as soon as he started drinking it, he threw up his children one by one. Cronus passed out after throwing up his children, and Zeus attempted to behead Cronus with his sickle but did not have the strength to wield it.
The Cronos Chain is based on Ethermint, a scalable, high-throughput blockchain framework that is fully compatible and interoperable with Ethereum. The latter is not based on Ethermint and therefore does not support apps that are created for the EVM platform and other derivative frameworks. The network, which launched on November 8th, 2021, runs parallel to the Crypto.org blockchain, the network that powers Crypto.com’s Pay feature.
Cronus
In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. Most recently, Crypto.com became an official sponsor of the FIFA World Cup Qatar in Qatar. It also has sponsorship deals in various sports, including basketball, soccer, and Formula 1 racing. It’s worth noting that its aggressive promotion hasn’t yet pushed it into the top 10 crypto exchanges by trading volume, according to CoinMarketCap data.
Gateway to the Crypto.com Ecosystem
This means that the chain cannot process transactions fast enough to meet demand. Through the lens of the traditional Proof-of-Work (PoW) consensus mechanism, this results in gas fees getting higher and higher as everyone is competing for their transactions to be added to the chain first. Being EVM compatible means that Cronos is able to run smart contracts programmed in Solidity – Ethereum’s native coding language. Developers do not have to learn a new language just to build on Cronos, and can easily port their projects from one chain to another.
What Sets Crypto.org Chain Apart?
Crypto.com’s ecosystem includes a suite of products that serves over 80 million users and is a leader in regulatory compliance and security certifications. The benefit of PoS is that it is much more scalable than Proof of Work (PoW) used by several established networks such as Bitcoin, Litecoin, Ethereum, and Bitcoin Cash, among others. Cronus was also mentioned, usually just in passing, in other literature from the Archaic and Classical Periods.
What Is the Cronos Blockchain?
This further expands the utility of Cronos-native assets to other ecosystems and enables Cronos to support native tokens from IBC-enabled chains. Cronos was launched as part of the wider Crypto.com ecosystem, including the popular exchange platform and the parallel Crypto.org blockchain. https://crypto-trading.info/ledger-nano-s-wallet-review-2021/ So far, the exchange serves more than 10 million users across the world, showing an already available user base that can be activated to use the new network. Additionally, Cronos complements the exchange service, enabling it to offer its customers a wider variety of products.
Easy For Developers to Build Upon
Cronos is an Ethereum compatible blockchain designed to host decentralized applications and smart contracts written on the Solidity programming language. Additionally, since it is based on the Ethermint codebase, it is interoperable with Cosmos SDK-based blockchains on the IBC channel. Crypto.org, on the other hand, is a less generalized platform designed to power Crypto.com’s expanding suite of financial products, such as the Crypto.com Pay.
The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility. As a partner with Cronos Labs, the developer of the Cronos chain, Crypto.com has built a number of products on Cronos and enables seamless access to projects on the chain. Cronos is 90% more energy efficient than Proof of Work (PoW) blockchains. Users can enjoy seamless digital asset transfers within the Cosmos ecosystem and across other Layer-1 and Layer-2 EVM chains through the IBC Protocol.
Ethereum and Crypto.com have one similarity—they are both designed with a native token that supports many functions throughout its environment. Amilcar has 10 years of FinTech, blockchain, and crypto startup experience and advises financial institutions, governments, regulators, and startups. Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master’s in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses.
The myth of Cronus, like many of the Greek cosmogonic myths, is clearly based on Near Eastern models. The Greeks, who must have encountered this myth at an early date, adopted it for themselves, turning Anu into Uranus, Kumarbi into Cronus, and Teshub into Zeus. Cronus, the second ruler of the Greek cosmos, was a Titan known primarily for his cruelty and for usurping his father Uranus. He fathered the first of the Olympian deities, including Demeter, Hades, Hera, Hestia, Poseidon and Zeus. Insatiably cruel and hungry for power, Cronus was ultimately deposed by his son Zeus, who ushered in the era of the Olympians. Although there is no etymological link between Cronus and Chronus, the Stoics believed that the definition of a word was also the meaning of a myth.