Focusing on DeFi Scaling: CryptoCom Introduces Testnet of EVM Chain Called Cronos

Forum 2 years ago

Focusing on DeFi Scaling: CryptoCom Introduces Testnet of EVM Chain Called Cronos

CryptoCom’s testnet for its EVN chain called Cronos is already live, aiming to enhance scalability and security in the DeFi sector.

The popular digital asset exchange CryptoCom has introduced a new testnet of its EVN chain called Cronos. The project is the company’s DeFi-oriented child aiming to scale the ecosystem by enabling developers to port apps from Ethereum and EVM-compatible chains.

CryptoCom Announces Cronos

According to the press release shared with CryptoPotato, the Ethereum Virtual Machine chain developed and launched by the exchange will work in parallel to the CryptoCom Chain.

Developers will be able to port decentralized applications from EVM-compatible chains and Ethereum. This became possible as Cronos will be powered by Ethermint – a platform enabling the “rapid porting of apps and smart contracts.”

Additionally, it has funding from Particle B’s $100 million EVM fund and allows users to receive access to “the 10 million user base of the CryptoCom ecosystem.”

Cronos will run on proof of authority (POA), which the statement described as a “more streamlined and scalable consensus mechanism.”

“We are going to provide full support for developers building on Cronos: technical, funding, marketing – everything you need to turn your idea into reality. Combined with easy dApp portability, I’m confident we will see an explosion of activity on Cronos.” – commented CryptoCom’s co-founder and CEO – Kris Marszalek.

CryptoCom’s Recent Partnerships

Apart from the release of the Cronos testnet, the digital asset exchange recently made several impressive partnerships aiming to enhance its brand recognition worldwide.

As Reported less than a month ago, CryptoCom became the official Global Partner and Inaugural Partner of Formula 1’s new Sprint series for this year. The first event, which took place on Saturday, July 17th, saw the crypto company’s logo presented at the trackside.

Shortly after, the exchange with another massive brand from the sports world – Ultimate Fighting Championship (UFC). As a result, CryptoCom’s logo will appear on the fighters’ kit (shorts, shirts, hoodies, and more), which is worn by athletes before, during, and after combats.

Additionally, the trading venue became the sole owner of the rights of UFC’s recently-launched sponsorship category with the name “Cryptocurrency Platform Partner.”