Crypto.com, the global leading exchange in the fintech sector, recently announced the launch of version 1.0 of its blockchain, Cronos (CRO) Chain, already available from the end of 2021 in beta version.
CRO announces the Galileo update, the most important so far and which leads to increasingly think that Crypto.com can stop feeling the negative effects produced by the collapse of FTX, continuing to stand out for its activism on the markets.
What is the update of Cronos (CRO) Chain, the Crypto.com blockchain?
As anticipated, the Cronos Chain recently exited its beta version, with CRO announcing its new update. This takes the name of Galileo and is important news in the crypto sector as, starting today, the Cronos (CRO) blockchain is updated to version 1.0.
The Cronos Chain is the second Crypto.com blockchain, launched at the end of 2021 to allow the development of DApps and DeFi in solidity language, with full EVM-compatibility. Thanks to the endorsement of one of the most used exchanges in the world, it has always boasted a strong community of users.
However, from a technical point of view, the chain has always been in beta, an initial launch version but not yet perfect. Furthermore, since its launch it has already seen a major update, dated May 2022, which brought it to version 0.7.
Either way, the purpose of the new blockchain has always been to expand Crypto.com’s offering even further. The goal is to provide a complete service: a user who uses Crypto.com must have everything they need available without having to leave the ecosystem.
Cronos is a chain built on Cosmos and is compatible with the EVM (Ethereum Virtual Machine). But, the real innovation lies in the fact that Cronos is the first blockchain that has managed to connect Cosmos to Ethereum.
This involves a series of additional advantageous operations: for example, the transfer of the DApps present on Ethereum directly to Cronos.
In fact, thanks to the EVM support it is possible to develop smart contracts in a simple and safe way, which is why Cronos Chain has grown in a very short time, raising enormous capital in about two months.