The 17th largest cryptocurrency in terms of market cap and native coin of the Crypto.com currency exchange has just been rebranded from Crypto.com coin (CRO) to Cronos (CRO).
The rebrand reflects the decentralization of the coin and tremendous growth of the Cronos ecosystem.
Since the launch of the Cronos main net on November 8th of 2021 much has already been achieved:
- More than 12 million transactions to date
- More than 350,000 unique active wallet addresses.
- Around USD 2 billion Total Value Locked in DeFi protocols (source: Defillama)
- 26 live validators are securing the network (list of partners)
Three months after the go-live of Cronos Chain, Cronos already powers a vast ecosystem of more than 120 decentralized applications (DApps).
Pictured below is the current Cronos ecosystem:
The Cronos token is used on the Cronos Chain by more than 350,000 wallet addresses, performing around 200,000 transactions daily.
“The Cronos Chain roadmap for 2022 will deliver rapid ecosystem expansion, robust protocol optimization, as well as decentralized, secure connectivity between Cronos and other chains”.Ken Timsit
Other than the benefits developers currently enjoy, pictured below are some of the major advances that Cronos plans to implement this year.
According to the managing director of the Cronos Chain, Ken Timsit says block production will dramatically increase in the next few months.
“While Cronos capacity is currently utilized only at 20 to 25% on average, we are already planning significant capacity increases in 2022 given strong demand. Depending on performance tests, a 3x to 6x increase of block capacity seems reasonable for the short to medium term.“Ken Timsit
This is another step in the right direction for Crypto.com as they are planning to become the largest and most advanced global exchange.
Cronos (CRO) currently sits at $0.44 per coin with a market cap of $11,192,355,722