KEYTAKEAWAYS
- Cronos combines Ethereum compatibility with Cosmos interoperability, enabling seamless cross-chain dApp development.
- CRO fuels the Cronos ecosystem, offering use cases from staking and fee payments to investment and cashback rewards.
- Backed by Crypto.com, Cronos benefits from a large user base, established infrastructure, and ongoing Web3 expansion.
CONTENT
Cronos (CRO) is a scalable, Ethereum-compatible blockchain by Crypto.com, offering low fees, fast transactions, and cross-chain interoperability for DeFi, NFTs, and Web3 innovation.
LATEST CRO NEWS AND COMMUNITY BACKLASH
The Cronos ecosystem has recently come under intense scrutiny following a controversial proposal from Crypto.com to re-mint 70 billion CRO tokens—a move that directly contradicts the platform’s 2021 commitment to permanently burn that same amount.
The community vote on this proposal ended on March 17, 2025. As of March 16, the outcome was too close to call, with support and opposition nearly neck and neck. However, in the final hours of the vote, support surged dramatically, pushing the proposal through at the last minute. This sudden shift left many CRO holders feeling blindsided and betrayed—largely because Crypto.com reportedly controls 70–80% of the total voting power, effectively enabling it to dictate the final result.
Following the vote, Crypto.com announced that it would upgrade the Cronos blockchain to mint the new 70 billion CRO tokens. These tokens will be released gradually over five years and are earmarked for various purposes, including the potential creation of a CRO-based exchange-traded fund (ETF), incentive programs, and ecosystem grants. Notably, the original 70 billion CRO that was burned in 2021 will remain out of circulation, but the credibility damage to the platform’s long-term monetary policy appears to be done.
To make matters more contentious, Crypto.com introduced a new proposal the very next day to burn 50 million CRO tokens—just 0.07% of the newly minted supply. This move was widely mocked across the community as a mere PR stunt rather than a meaningful offset.
In response to the turmoil, the price of CRO fell nearly 5%, signaling the market’s concern over governance transparency and future supply risks. The backlash also significantly eroded community trust in Crypto.com, raising broader questions about the governance model and long-term decentralization of the Cronos ecosystem.
As of now, the vote on the latest burn proposal is still ongoing, and the situation remains highly volatile. The outcome of this controversy may serve as a critical test of Cronos’ ability to balance centralized leadership with community-driven decision-making.
WHAT IS CRONOS?
Cronos (CRO) is the native token powering Crypto.com’s proprietary blockchain and the parallel Cronos EVM chain. Designed to be fully compatible with the Ethereum Virtual Machine (EVM), Cronos operates alongside the Crypto.org Chain, and focuses on supporting applications across DeFi, GameFi, and the broader creator economy. Its long-term vision is to serve as a foundational layer for the metaverse.
Compared to the Ethereum mainnet, Cronos offers faster transaction speeds and significantly lower fees, creating a more developer- and user-friendly environment for decentralized applications (DApps) and smart contracts.
➤ Official Website: cronos.org
Crypto.com, the platform behind Cronos, is a comprehensive crypto financial service provider with over 50 million users worldwide. It offers a wide range of features, including an NFT marketplace, a Visa crypto card with up to 8% cashback accepted in nearly 40 countries, a secure crypto wallet, token swap services, daily rewards, interest-earning opportunities, and the ability to monetize crypto assets without selling them.
According to the Crypto.com whitepaper, the development of the Cronos ecosystem represents a major milestone in the mass adoption of Web 3.0. CRO plays a critical role in this ecosystem, serving as the token used for transaction fee settlement on the Crypto.com Chain. Additionally, CRO is central to the platform’s staking system, allowing users to access benefits such as cashback rewards, higher interest rates, a 2% APY boost on fixed-term deposits, and other attractive incentives—reinforcing the token’s importance across the network.
>>> More to read: What is the Ethereum Virtual Machine (EVM)?
HOW CRONOS WORKS
Cronos is built on Ethermint, a scalable, high-throughput blockchain framework that’s fully compatible and interoperable with Ethereum. This is one of the key distinctions between Cronos and the Crypto.org Chain—the latter is not built on Ethermint and therefore doesn’t support applications designed for EVM platforms and related frameworks.
To achieve consensus, Cronos relies on the Proof-of-Stake (PoS) engine powered by Tendermint Core. Under the PoS model, validators stake a portion of their assets in smart contracts, incentivizing honest behavior when validating transactions. Compared to Proof-of-Work (PoW) systems used by Bitcoin, Ethereum (pre-2.0), Litecoin, and others, PoS offers significantly better scalability and energy efficiency.
As an open-source blockchain, Cronos empowers all CRO token holders to participate in governance. Anyone can submit proposals, fund initiatives, and vote on them—enabling a decentralized, community-driven decision-making process.
By leveraging the Ethermint framework, Cronos enjoys the best of both Ethereum and Cosmos ecosystems. It not only supports EVM compatibility but also facilitates seamless interoperability with other Cosmos SDK-based blockchains. This architecture is one of the main reasons why many Ethereum-based dApp developers are migrating their applications to Cronos.
>>> More to read: What is Maker & Taker in Crypto?
KEY ADVANTAGES OF CRONOS
✅ Ethereum Compatibility
Easily port dApps built with Solidity without needing to rebuild the application from scratch.
✅ Backed by Crypto.com Ecosystem
Integrated into the broader Crypto.com family, giving access to over 10 million potential users.
✅ Scalable and Cost-Efficient
More eco-friendly and affordable than PoW blockchains, ideal for high-traffic decentralized apps.
✅ Interoperability with Cosmos SDK Chains
Enables cross-chain connectivity with other Cosmos-based networks.
>>> More to read: What is Proof of Stake (PoS)?
WHAT IS CRO?
CRO is the native token of the Cronos blockchain. Initially launched as an ERC-20 token on Ethereum, it was originally known as “Crypto.org Coin.” The name was later changed to CRO to better reflect the decentralized nature of the project and Cronos’ ambition to become a diverse and expansive network.
CRO had an original total supply of 100 billion tokens. However, in February 2021, Crypto.com burned 70 billion tokens, reducing the total supply to 30 billion. The current token allocation is as follows:
- 30%: Secondary distribution and launch incentives, released over five years
- 20%: Capital reserve
- 20%: Long-term network incentives
- 20%: Ecosystem grants
- 10%: Community and marketing initiatives
Many of the tokens were initially issued on Ethereum under the ERC-20 standard and later migrated to the Crypto.org Chain. However, their utility remains consistent across both networks.
📌 What is CRO Used For?
CRO serves as the core utility token that powers both the Crypto.com ecosystem and the Cronos network. Holding CRO provides a wide range of benefits, from trading discounts to staking rewards and even cashback. Here’s a breakdown of its primary use cases:
- Staking
Node operators, delegators, and governance participants are required to stake CRO to take part in the network. Staking can be done directly through supported self-custody wallets or via staking services offered by platforms like the Crypto.com Exchange.
- Transaction Fee Payments
CRO is used to pay transaction fees across both the Cronos and Crypto.org chains. Additionally, it serves as a payment method across the Crypto.com ecosystem, including services like the Visa card and the Crypto Pay app.
- Investment & Financial Utility
CRO can be traded on a variety of platforms, including Crypto.com, where investors speculate on its value. It also plays a role in DeFi—used for lending, earning interest and bonuses, and receiving cashback when spending with the Crypto.com Visa card.
>>> More to read: What is Mantle Network & MNT?
CRONOS CONCLUSION
As an innovative blockchain network, Cronos is actively advancing cross-chain interoperability—one of its most compelling strengths. While many crypto projects are now chasing similar goals, Cronos holds a key advantage: it was launched as part of a well-established product suite under Crypto.com, providing it with a strong user base and integrated infrastructure from the start.
Crypto.com also operates the parallel Crypto.org Chain, which complements Cronos and enables the platform to offer more advanced Web3 products, including DeFi and NFT marketplaces. Together, these two chains form a synergistic foundation that enhances the utility and flexibility of the entire ecosystem.
Overall, Cronos (CRO) has had a promising start, supported by a robust architecture and growing developer interest. However, whether it can ultimately fulfill its ambition to rival or replace Ethereum—especially amid ongoing scalability debates—remains to be seen.
If Cronos can continue to attract quality projects, strengthen community governance, and deliver consistent performance across its ecosystem, it could position itself as a vital player in the emerging multi-chain future of Web3.
