Cronos is a public, open-source blockchain launched by Crypto.com on November 8, 2021. Faster and cheaper than many competitors, its native token is CRO (short for Crypto.com Coin). CRO powers the network, paying for transaction fees, staking for rewards, and participating in governance. Unlike Bitcoin, which is mined via proof-of-work, Cronos uses Proof-of-Authority (PoA), where a smaller group of trusted validators secures the chain. This sacrifices some decentralization for speed: transactions settle in 5-6 seconds, cost pennies, and the network can handle millions daily. Cronos aims to bridge Web3 to the masses. Crypto.com pushes it as a hub for practical use cases like swapping tokens on Ebisus Bay, Purchasing NFTs like RYOSHI, or playing blockchain games.
