Crypto.com supports Cronos cross-bridge mainnet beta launch

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Crypto.com supports Cronos cross-bridge mainnet beta launch

Cronos has introduced the launch of its mainnet beta in a bid to facilitate larger interoperability between the Cosmos and Ethereum Digital Machine (EVM) ecosystems.

The discharge will allow builders to port decentralized functions (dApps), and good contracts from Ethereum and EMV-compatible chains to the Cronos community at a low-cost and quick pace because of its Inter-Blockchain Communications (IBC) protocol integration. This can supply accessibility to Crypto.com’s 10 million-strong buyer base.

Constructed upon the Cosmos blockchain and powered by Ethermint — a proof-of-authority consensus mechanism — Cronos operates adjoining to the Crypto.org chain.

Within the days previous to the launch, the Cronos group revealed a Medium weblog post to clarify the intricate strategy of bridging belongings cross-chain, as an example from Crypto.com’s ecosystem to Cronos, or bridging the platform’s native token CRO from Crypto.org’s chain to the Cronos chain through IBC.

Cronos announced their testnet service in July this year, and have reportedly since facilitated 1.5 million transactions from over 600,000 pockets addresses. On the time, Crypto.com’s CEO and co-founder Kris Marszalek stated he expects an “explosion of exercise on Cronos,” in addition to pledging to foster the success of builders’ tasks from inception to deployment.

This advocacy was demonstrated by the launch of a $100 million grant fund by blockchain accelerator Particle B, designed to equally allocate $1 million to 1 hundred tasks deploying their functions on the Crypto.org chain.

Related: Crypto​.com is the #1 app in the Google Play Store in the US

Since launch, the Cronos ecosystem has attracted over twenty validators together with Bison Trails, quite a few outstanding decentralized oracles together with Chainlink and Band Protocol, Wallets Metamask and Crypto.com, in addition to partnerships with DeFi, NFT and gaming platforms and tasks.

The Cronos roadmap going into Q1 and Q2 of 2022 outlines intentions to launch the mainnet model of Gravity Bridge, in addition to combine extra IBC channels and IBC tokens whitelist.