- Crypto.com introduces its new testnet Cronos.
- Cronos runs in parallel to the Crypto.org Chain.
- Offers the app developers to quickly port apps from ETH and EVM-compatible chains.
Crypto.com introduces its new testnet Cronos. However, Cronos is the Crypto.org Virtual Machine or EVM chain, on July 20, 2021.
Cronos runs in parallel to the Crypto.org Chain. Moreover, it is developed to massively scale the decentralized finance (DeFi) environment. More so, it offers the application developers to quickly port applications from Ethereum and EVM-compatible chains. Notably, with funding from Particle B’s $100 million EVM fund. In addition, access to the over 10 million user base of the Crypto.com ecosystem.
Added to this, Cronos is based in Ethermint which enables rapid porting of applications and smart contracts from ETH and EVM-compatible chains. Notably, Cronos base settlement currency is CRO which is the native cryptocurrency of the Crypto.org Chain, the announcement added.
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