CRO Token Mainnet has been launched by Crypto.com
As per the latest reports, Crypto.org Chain has been launched by Crypto.com, which is a cryptocurrency exchange. Crypto.org Chain is an open-source public blockchain, which is a fully decentralized network.
The announcement around the launch of the Crypto.org Chain was made by Crypto.com on Thursday, March 25, 2021. At the time of the announcement, Crypto.com revealed that development on the Crypto.org Chain had been initiated two years back.
However, the company went through an extensive research program in order to fully scale the performance and reliability of the project. Once everything was measured and well-calculated, the development teams at Crypto.com went onto develop the Crypto.org Chain.
During the development and research process, the development teams also went through two testnets as well dry runs for the mainnet. The firm revealed that there were a total of 275 million transactions that were processed during the dry mainnet. The firm has confirmed that the milestone of processing 275 million transactions was achieved within a month’s time.
Crypto.com has also announced that the name of the new native token for the Crypto.org Chain is Crypto.org Coin (CRO). Crypto.org Chain has confirmed that it managed to burn a total of 70 billion CRO last month. Prior to the launch of the Crypto.org Chain mainnet, the Chain had burned 10 billion CRO.
The Crypto.org also revealed that within minutes of being launched, more than 7,000 transactions were processed through the chain. Crypto.com has revealed that these 7,000 transactions were distributed among NFTs, DeFi, and payments.
According to Kris Marszalek, the CEO at Crypto.com, the process of decentralization matters. At present, the options that the users have for decentralized platforms are turning bad. The users have the option that they can go with Blockchain A where the transactions are congested, is extremely slow, and comprise of high fees.
On the other hand, the users have the option of going with Blockchain B where the transaction flow is smooth, transactions are swift, and the transaction fees are very low.
At present, Crypto.com has more than 10 million active users and it aims to provide them with the best trading options. They can also use the platform for making transactions to any sector of the cryptocurrencies and do not incur high fees.
Crypto.com has been making all the efforts and bringing more products to the table to care for the needs of the users. The month of March has been of really high significance for the exchange as it has introduced numerous products and services for its users.
Right at the beginning of March 2021, Crypto.com introduced a non-fungible token (NFT) platform for the users. As the NFT platform is gaining constant user-base and adoption, it is only a matter of time it becomes the top product in the crypto-verse. So not offering this service to its users would only be a loss to the reputation and user-base to the exchange.