Crypto.com Brings its Ethereum Virtual Machine Chain Testnet into Service
The Crypto.com chain testnet has now become operational, letting Ethereum-based applications to migrate to its network of chains that are interoperable with the Ethereum Virtual Machine. Crypto.com said on Tuesday that the testnet for its Cronos Ethereum Virtual Machine (EVM) chain, which runs concurrently to the Crypto.org chain, has been established.Programmers will be able to migrate ventures from Ethereum and EVM-compatible chains to the Crypto.org platform, allowing consumers more access to DeFi capabilities like smart contracts.
Crypto.com CEO and co-founder Kris Marszalek stated, “We will be giving complete assistance for developers developing on Cronos: technical, financing, marketing — whatever you require to bring your vision to life.” “With seamless dapp portability, I am certain that Cronos will witness a surge in interest.”
Cronos will utilize Crypto.org’s in-house coin CRO for transactions. While writing this artilce, the coin was rated 30th out of all digital currencies on CoinMarketCap, with a market value of over $2.5 billion. Developers may profit from startup incubator Particle B’s $100 million investment in ventures adding to the Crypto.org blockchain, according to the firm.
Cronos is fueled by Ethermint, a proof-of-stake chain that is interchangeable with Ethereum and EVM-compatible chains and runs on a proof-of-authority consensus mechanism. The testnet is a free and open source project. Crypto.com boasts to have a customer base of over 10 million individuals after launching on the Crypto.org blockchain mainnet in March. To broaden the scope of its bitcoin credit card, the project rolled out a nonfungible token platform and became a member of the Visa network in 2021.