What is CronosEVM?
CronosEVM is a blockchain platform developed by Crypto.org, which is designed to provide developers with a fast and low-cost way to build decentralized applications (dApps) using Ethereum-compatible smart contracts. The platform is built on top of the Crypto.org Chain, which is a high-performance proof-of-stake blockchain. In addition, CronosEVM is fully compatible with the Ethereum Virtual Machine (EVM), which means that developers can use the same tools and programming languages that they would use to develop Ethereum dApps. This makes it easy for developers to port their existing Ethereum dApps over to CronosEVM or to build new dApps from scratch.
What are the core features of CronosEVM?
- EVM Compatibility: CronosEVM is fully compatible with the Ethereum Virtual Machine (EVM), which means that developers can use the same tools and programming languages that they would use to develop Ethereum dApps.
- Low Transaction Fees: CronosEVM offers significantly lower transaction fees than the Ethereum network, making it more affordable for developers to deploy and run their dApps while providing a better end-user user experience.
- High Performance: CronosEVM is built on top of the Crypto.org Chain, a high-performance proof-of-stake blockchain. This means it can handle a high volume of transactions and offers fast confirmation times.
- Scalability: CronosEVM is designed to be scalable, which means it can support many users and dApps without compromising on performance.
- Interoperability: CronosEVM is designed to be interoperable with other blockchains, which means that digital assets can be transferred between different blockchains.
What is the native token of CronosEVM?
The native token of CronosEVM is the Crypto.org Coin (CRO). CRO is used as the platform’s native currency and can be used to pay for transaction fees and to participate in governance on the CronosEVM network. CRO is an ERC-20 token that is also used on the Crypto.org Chain, which is the blockchain on which CronosEVM is built. The Crypto.org Chain uses a proof-of-stake consensus mechanism, which means that users can stake their CRO tokens to help secure the network and earn rewards in return. The use of CRO as the native token of CronosEVM has several benefits. Additionally, it provides users with a familiar token that they may already be using on the Crypto.org Chain, which helps to simplify the process of using the CronosEVM platform. Overall, the use of CRO as the native token of CronosEVM helps to provide a seamless and integrated user experience across the Crypto.org ecosystem.