Crypto.com's EVM-Compatible Blockchain Cronos Gets Further Support, $CRO Up 650% YTD
Cronos, the Ethereum Virtual Machine (EVM) compatible network launched by cryptocurrency exchange Crypto.com to run alongside the Crypto.org chain, is getting further support as Coinbase-backed Bison Trails is set to run a validator node on its testnet and mainnet beta.
According to a press release shared with CryptoGlobe, startup accelerator Particle B has enlisted Bison Trails, a Coinbase-based blockchain infrastructure platform-as-a-service provider, to run a validator node on Cronos in a bid to support and enhance the network’s security.
Bison Trails’ support of Cronos, the document adds, is in line with its goal of supporting the growth of the entire blockchain ecosystem. Bison Trails was acquired by Coinbase earlier this year and makes it easier for developers to participate in decentralized networks and build applications that connect to blockchain data.
In December of last year, Crypto.com enlisted bison Trails to provide validator node infrastructure support for the Crypto.org chain, where it enabled validators to sign transaction blocks with low latency and high throughput. That support is expanding to Cronos, where a validator node is live on the testnet and is set to be launched on mainnet beta.
Aaron Henshaw, head of engineering at Conbase Cloud and co-founder of Bison Trails, was quoted saying:
We’re excited to support the launch of Cronos and believe that it will continue to advance the mainstream adoption of crypto with EVM compatibility and capability to support DeFi solutions and more.
The document notes that as a key contributor in Cronos’ launch, Bison Trails will “provide network design and rollout support, including protocol design collaborations, as well as structuring, coordination, rollout, and troubleshooting support for testnet and mainnet launches, among other services.”
As CryptoGlobe reported, Cronos aims to scale the DeFi and dApp ecosystem by “providing developers with the ability to instantly port apps from Ethereum and EVM-compatible chains.” Cronos is set to be the first Cosmos EVM chain built for DeFi, non-fungible tokens (NFTs), and the Metaverse.
The price of CRO, the native cryptocurrency of the Crypto.org chain and Cronos, is up over 650% year-to-date thanks to the network’s launch and Crypto.com’s various partnerships:
The Cronos network is being supported with a $100 million ecosystem grant program provided by blockchain accelerator Particle B. The firm is set to grant up to $1 million to at least 100 different projects committing to building applications and infrastructure on Cronos.
On top of that, a hackathon with a $500,000 prize pool is running until November 24 to reward developers and entrepreneurs who contribute ideals and early-stage projects to the ecosystem.
Finally, Particle B is also sponsoring a Cronos bug bounty program that will award a maximum bounty of $1.337 million to enhance the network’s security.
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IMAGE CREDIT
Featured image via Cronos’ website
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