Leading international cryptocurrency trading hub Crypto.com has launched its Crypto.org Chain mainnet with Crypto.org Coin (CRO) as its native currency on March 25, 2021. This is great news for CRO holders, who can now stake CRO tokens on-chain and earn up to 20% PA.
What is Crypto.org Chain
Crypto.org Chain is designed to be a fully decentralized, open-source, public blockchain with high throughput and low transaction fees, which makes it a popular option for payments, DeFi, and non-fungible tokens (NFTs) applications. The network was created following more than two years of research and development, two testnets (Thaler and Croeseid), and receiving over 3,000 validator applications globally during the Crossfire mainnet dry run, which processed more than 275 million transactions in just four weeks. The chain uses the delegated proof-of-stake consensus algorithm, and CRO tokens can be staked via Crypto.com’s DeFi wallet. There are no minimum staking requirements.
The mainnet launch follows the recent announcement of the 70 billion CRO token burn to pursue the maximum decentralization of the network. The ~20% PA staking rewards will be distributed to validators who delegate their CRO to validators via the DeFi wallet to secure the network and participate in consensus. A grand total of 500M CRO in yearly rewards are expected to be distributed, and 5 billion CRO tokens have been allocated as validator rewards for the next 10 years.
Download the Crypto.com DeFi wallet and earn 20% PA now!
Crypto.org Chain security and compliance
Crypto.org Chain has partnered with Chainalysis and is leveraging Chainalysis’s industry-leading compliance and risk management software designed to monitor and investigate cybercriminal activity on blockchains.
Chainalysis will support the integration of the CRO token on Crypto.org Chain. In particular, Crypto.org Chain will utilize Chainalysis KYT (know your transaction) software to reduce manual compliance workflows, further complying with both local and global regulations.
Five major releases in the Crypto.org Chain roadmap
Phase 1 Canis Major
NFTs
- On-chain NFT support
Phase 2
Coin issuance and Ethereum virtual machine
- Native coin issuance
- Interact with side chain and execute ETH-based smart contracts
Phase 3 Tucana III
Decentralized exchange with automated market making
- Native AMM protocol based on Uniswap model, with improvements
Phase 4 Â I
Smart contract
- On-chain smart contract with CosmWasm, an engine that supports multiple programming languages
- Enabling many DApps and DeFi products
Phase 5 III
Decentralized finance and oracles
- Bridge with oracle protocols, such as Chainlink and Band protocol, to empower smart contracts
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