**Cronos** is a [blockchain](https://iq.wiki/wiki/blockchain) ecosystem that supports [decentralized finance (DeFi)](https://iq.wiki/wiki/defi), gaming, and [Web3](https://iq.wiki/wiki/web3) applications. It leverages interoperability with [Ethereum](https://iq.wiki/wiki/ethereum) and [Cosmos](https://iq.wiki/wiki/cosmos) networks and features multiple chains, including Cronos [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm) and Cronos zkEVM. The $CRO token is used for transactions and [staking](https://iq.wiki/wiki/staking) within the ecosystem. [\[1\]](#cite-id-c537ao6fdmi)  
  
# Overview  
  
Cronos is a decentralized, open-source, public [blockchain](https://iq.wiki/wiki/blockchain) known for its high speed, energy efficiency, and low [transaction fees](https://iq.wiki/wiki/transaction-fee). It supports the creator economy with [Web3](https://iq.wiki/wiki/web3) applications like [DeFi](https://iq.wiki/wiki/defi) and GameFi and aims to serve as the foundation for an open [metaverse](https://iq.wiki/wiki/metaverse). Cronos’ ecosystem includes three chains: Cronos [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm) ([Ethereum](https://iq.wiki/wiki/ethereum)-compatible and [Cosmos SDK](https://iq.wiki/wiki/cosmos)-based), Cronos [POS](https://iq.wiki/wiki/proof-of-stake) (a [Cosmos](https://iq.wiki/wiki/cosmos)-based chain for payments and [NFTs](https://iq.wiki/wiki/non-fungible-token-nft)), and Cronos zkEVM (a high-performance [Layer-2](https://iq.wiki/wiki/layer-2) secured by [Ethereum](https://iq.wiki/wiki/ethereum)). Transactions use $CRO, Cronos' native currency. [\[2\]](#cite-id-aox4e7f4csb)[\[3\]](#cite-id-de44ntvmav)  
  
The Cronos network is built on Ethermint with the [Cosmos SDK](https://iq.wiki/wiki/cosmos). It supports the Inter-Blockchain Communication (IBC) protocol, enabling interoperability with [Ethereum](https://iq.wiki/wiki/ethereum), [Cosmos](https://iq.wiki/wiki/cosmos), and other chains. This setup allows users to bring assets from these chains into Cronos, utilizing [smart contract](https://iq.wiki/wiki/smart-contract) protocols and the broader [Ethereum](https://iq.wiki/wiki/ethereum) application ecosystem. Using a [Proof of Authority (POA)](https://iq.wiki/wiki/proof-of-authority) [consensus mechanism](https://iq.wiki/wiki/consensus-mechanism) that balances decentralization with scalable, eco-friendly processing, Cronos aims for high transaction throughput, fast finality, and low fees. This approach offers a more cost-effective and carbon-neutral alternative to [Ethereum’s](https://iq.wiki/wiki/ethereum) [mainnet](https://iq.wiki/wiki/mainnet), enhancing accessibility for [decentralized applications](https://iq.wiki/wiki/decentralized-application) and [smart contracts](https://iq.wiki/wiki/smart-contract). Developers have additional support through Cronos Labs, a [Web3](https://iq.wiki/wiki/web3) accelerator and ecosystem development fund focused on advancing [DeFi](https://iq.wiki/wiki/defi), GameFi, and Cronos’ growth. [\[2\]](#cite-id-aox4e7f4csb)[\[3\]](#cite-id-de44ntvmav)  
  
## Cronos POS  
  
Cronos [POS](https://iq.wiki/wiki/proof-of-stake) Chain is a [Cosmos SDK](https://iq.wiki/wiki/cosmos)-based [blockchain](https://iq.wiki/wiki/blockchain) used primarily for $CRO [staking](https://iq.wiki/wiki/staking) and powers several [Crypto.com](https://iq.wiki/wiki/cryptocom) applications, including [Crypto.com](https://iq.wiki/wiki/cryptocom) Pay. The chain is designed to support fast transactions and serves as a public [blockchain](https://iq.wiki/wiki/blockchain), facilitating global transactions between individuals and businesses. [Transaction fees](https://iq.wiki/wiki/transaction-fee) on Cronos [POS](https://iq.wiki/wiki/proof-of-stake) Chain are paid in $CRO. Cronos [POS](https://iq.wiki/wiki/proof-of-stake) Chain also aims to advance [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) spending in everyday settings, addressing limitations of traditional payment systems and existing [blockchains](https://iq.wiki/wiki/blockchain) that have not delivered a secure, scalable, decentralized solution for [crypto](https://iq.wiki/wiki/cryptocurrency) payments. [\[4\]](#cite-id-3lpa3ezesd9) ![image](https://ipfs.everipedia.org/ipfs/QmPYizcsLqnxfQdkecPCCif5SseYkg9Jbnirp7ijEeDsgC)  
  
## Cronos zkEVM  
  
In December 2023, Cronos Labs launched the Cronos zkEVM Chain public [testnet](https://iq.wiki/wiki/testnet), a [zero-knowledge (ZK)](https://iq.wiki/wiki/zero-knowledge-proofs-zkps) [Layer-2](https://iq.wiki/wiki/layer-2) [blockchain](https://iq.wiki/wiki/blockchain) developed in partnership with [Matter Labs](https://iq.wiki/wiki/matter-labs) ([zkSync](https://iq.wiki/wiki/zksync) team), and engineering teams from [Crypto.com](https://iq.wiki/wiki/cryptocom), VVS Finance, Fulcrom Finance, and Veno Finance. This [testnet](https://iq.wiki/wiki/testnet), built using the [ZK](https://iq.wiki/wiki/zero-knowledge-proofs-zkps) Stack, is a key step toward scalability and broader adoption within the Cronos ecosystem. [\[5\]](#cite-id-x6wprxt4y3h)  
  
The key features of Cronos zkEVM include integration with the Cronos user and developer ecosystem and using zkCRO (a [liquid-staked](https://iq.wiki/wiki/liquid-staking) version of $CRO) as the gas token. The network leverages a [zero-knowledge proof](https://iq.wiki/wiki/zero-knowledge-proofs-zkps) system for cost-efficient scalability on [Ethereum](https://iq.wiki/wiki/ethereum) security, joining other prominent [ZK](https://iq.wiki/wiki/zero-knowledge-proofs-zkps) chains in advancing [Ethereum](https://iq.wiki/wiki/ethereum) scalability. Additionally, it supports a "triple yield" concept within [DeFi](https://iq.wiki/wiki/defi), combining yield-bearing [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), [DeFi](https://iq.wiki/wiki/defi) returns, and loyalty points alongside native account abstraction for gasless transactions. [\[5\]](#cite-id-x6wprxt4y3h) ![image](https://ipfs.everipedia.org/ipfs/QmamgLmxxXiMgvshx3SwF2RXTdcG4ayr5vYZVsMkitFYDb)  
  
### zkCRO  
  
zkCRO is the native [gas](https://iq.wiki/wiki/gas) token of the Cronos zkEVM [blockchain](https://iq.wiki/wiki/blockchain), created by Veno Finance and backed by LCRO. Each zkCRO token represents $CRO staked on the Cronos [POS](https://iq.wiki/wiki/proof-of-stake) chain. The zkCRO/CRO exchange rate adjusts over time to reflect [staking](https://iq.wiki/wiki/staking) rewards or any slashing events on the Cronos [POS](https://iq.wiki/wiki/proof-of-stake) chain. To obtain zkCRO, users deposit CRO on [Ethereum](https://iq.wiki/wiki/ethereum) via the Cronos zkEVM Bridge, receiving zkCRO as a yield-bearing token that appreciates relative to $CRO through accrued [staking](https://iq.wiki/wiki/staking) rewards. Deposited CRO is staked as LCRO on Cronos [POS](https://iq.wiki/wiki/proof-of-stake), with LCRO bridged to Cronos EVM via IBC. This setup provides immediate [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity), allowing users redeeming zkCRO to access LCRO without waiting through a 28-day unstaking period, with an option to sell LCRO in existing [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) markets. Furthermore, 50% of [validator](https://iq.wiki/wiki/validator) rewards from LCRO are distributed to VNO depositors on Cronos [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm), and LCRO includes an insurance feature against slashing penalties. [\[6\]](#cite-id-e1l0kt90u7h)  
  
## Cronos Labs  
  
Cronos Labs is the [Web3](https://iq.wiki/wiki/web3) startup accelerator and ecosystem development fund for Cronos, supporting the growth of [decentralized finance (DeFi)](https://iq.wiki/wiki/defi), gaming, and related applications within the Cronos ecosystem. Originally known as “Particle B,” Cronos Labs manages a $100 million fund to advance the ecosystem and foster innovation among [Web3](https://iq.wiki/wiki/web3) startups that leverage Cronos’ open-source, [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm)-compatible [blockchain](https://iq.wiki/wiki/blockchain) built on the Cosmos SDK. [\[7\]](#cite-id-wjkckv9ly4)  
  
# Features  
  
## Crono Play  
  
The Cronos Play Gaming SDK enables integration between gaming platforms and the Cronos network, allowing for enhanced player experiences. Through Cronos Play, developers can connect games to Cronos networks, incorporate in-game [NFT](https://iq.wiki/wiki/non-fungible-token-nft) functionality, and support authentication through various [crypto wallets](https://iq.wiki/wiki/cryptocurrency-wallet). Currently compatible with Unity, Unreal, and C++, the SDK is planned to expand to additional game engines. [\[8\]](#cite-id-4dpv2nsbq9t)  
  
# CRO  
  
![image](https://ipfs.everipedia.org/ipfs/QmYJcGsujS4kGS3kkvBF6nrC7fCZfCA8UprKaV56u943Vw)  
Cronos (CRO) is the [utility token](https://iq.wiki/wiki/utility-token) of the [Crypto.com](https://iq.wiki/wiki/cryptocom) platform, used to pay fees and reduce transaction costs. Users can [stake](https://iq.wiki/wiki/staking) CRO for higher cashback, discounts, and exclusive rewards. CRO also unlocks [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) features within the [Crypto.com](https://iq.wiki/wiki/cryptocom) ecosystem and serves as [gas](https://iq.wiki/wiki/gas) fees for transactions on the Cronos Chain. Additionally, CRO is a store of value linked to the platform's success, making it a central token within the [Crypto.com](https://iq.wiki/wiki/cryptocom) ecosystem. [\[9\]](#cite-id-hk4fir4d1zh)[\[10\]](#cite-id-0hzay0ow5yqa)  
  
Cronos uses a [deflationary](https://iq.wiki/wiki/deflationary-token) [tokenomics](https://iq.wiki/wiki/tokenomics) model, regularly [burning](https://iq.wiki/wiki/token-burn) a portion of its tokens to decrease overall supply and create scarcity, which helps sustain the token's value over time. [Crypto.com](https://iq.wiki/wiki/cryptocom) reports that 20% of CRO used for [transaction fees](https://iq.wiki/wiki/transaction-fee) on the [Crypto.com](https://iq.wiki/wiki/cryptocom) Chain is [burned](https://iq.wiki/wiki/token-burn), along with a portion of revenue from the [Crypto.com](https://iq.wiki/wiki/cryptocom) Visa Card program. [\[9\]](#cite-id-hk4fir4d1zh)[\[10\]](#cite-id-0hzay0ow5yqa)  
  
## Tokenomics  
  
CRO has a total supply of 30B tokens and has the following distribution: [\[10\]](#cite-id-0hzay0ow5yqa)  
  
* **Community/Ecosystem**: 50%  
* **Launch/Development**: 30%  
* **Team/Advisors**: 20%  
  
# Partnerships  
  
* [Crypto.com](https://iq.wiki/wiki/cryptocom)  
* Dora Factory  
* Caldera  
* [Moralis](https://iq.wiki/wiki/moralis)  
* Protofire  
* Chainalysis  
* Blockdaemon  
* RockX  
* Witnet  
* Gelato Network  
* SubQuery  
* OmniHub  
* Band VRF  
* [CoinGecko](https://iq.wiki/wiki/coingecko)  
* MicroSwap  
* Holdstation  
* [Covalent](https://iq.wiki/wiki/covalent)  
* VIA Labs

Cronos Chain’s mainnet beta was launched on November 8th 2021

Date Founded

Ken Timsit

image

Cronos (CRO) is the cryptocurrency native to Crypto.com's decentralized, open-source blockchain - Cronos Chain.

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