Unveiling the Crypto.org Chain
Crypto.com, known for its dynamic offerings in the digital currency sphere, has recently unveiled its latest brainchild – the Crypto.org Chain. After more than two years of relentless research and extensive development, this fully decentralized, open-source public blockchain is ready to make waves. The exchange announced that its new blockchain has successfully completed two testnets and even a mainnet dry run, boasting an impressive 275 million transactions in just a month.
The Birth of CRO
The blockchain’s native token, creatively named Crypto.org Coin (CRO), is set to play a pivotal role in the ecosystem. Last month, in a dramatic gesture that could only be likened to a magician pulling a rabbit from a hat, Crypto.org burned over 70 billion CRO tokens valued at around $10 billion at that time before launching its mainnet. Talk about a coin diet!
Transaction Capabilities
As of now, the new chain is seeing activity with over 7,000 transactions already in the books. The audience for this endeavor is broad, with the platform being aimed at payments, decentralized finance (DeFi), and non-fungible tokens (NFTs).
Words from the Top
“Decentralization matters. Today, you are faced with bad options. You can use Blockchain A and pay high fees in a slow, congested, but decentralized environment. OR, you can use Blockchain B, which is fast, low cost, but completely centralized.”
This statement from Kris Marszalek, the CEO of Crypto.com, reinforces the importance of having viable blockchain choices. It’s almost as if he’s offering a buffet of blockchain options, where no one is left hungry.
Future Developments
With more than 10 million users under its belt, Crypto.com isn’t resting on its laurels. This month alone, the exchange launched an exclusive NFT platform, ensuring that users have access to unique content from various artists. Moreover, the company has joined the Visa network to expand the reach of its cryptocurrency credit card, proving that they are not just a flash in the pan, but rather a well-cooked meal in the crypto kitchen.
