Cronos Labs Opens Applications for $100 Million Accelerator Program
If you’re a startup working at the intersection of artificial intelligence (AI) and cryptocurrency, here’s some exciting news for you. Cronos Labs, a blockchain network development lab launched from the Cronos ecosystem, has just opened applications for its third cohort of the $100 million accelerator program. This 12-week initiative aims to support projects that utilize AI for speed and market efficiency.
Cronos Labs operates within a vibrant ecosystem that includes Cronos, an open-source blockchain protocol. This protocol is the first EVM-compatible blockchain built on the Cosmos SDK. The ecosystem also includes a cryptocurrency, Cronos ($CRO), which serves as the native token for both the Cronos and Crypto.org chains.
Cronos Labs’ accelerator program offers a unique opportunity for startups. The Cronos blockchain is EVM-compatible, allowing for the rapid porting of apps and smart contracts from Ethereum and other EVM-compatible chains. Its interoperability is further amplified by the Cosmos SDK and Inter Blockchain Communications (IBC) protocol, enabling bridging to other IBC-enabled chains like Crypto.org and Cosmos Hub. In terms of performance, Cronos offers scalability, supporting thousands of transactions per second through layer-2s that use Cronos as the settlement layer-1.
With the support of significant industry players like Google Cloud, Amazon Web Services (AWS), PeckShield, and Certik, the selected startups will receive mentorship and guidance throughout the program. The focus on AI comes at a time when venture capital interest in AI technologies is on the rise, and the integration of AI and cryptocurrency has the potential to advance the capabilities and efficiencies of blockchain systems.
The launch of this cohort coincides with Korea Blockchain Week, indicating a strategic intention to engage with the international blockchain and AI community. While Cronos Labs has not provided specific success metrics for the program, it aims to attract projects that will contribute to technological advancements at the intersection of AI and blockchain.
Hot Take:
The Cronos Labs accelerator program presents an exciting opportunity for startups to leverage the power of AI and cryptocurrency within the Cronos ecosystem. With the support of industry-leading partners and the ecosystem’s strong technical expertise and user engagement, selected startups have the potential to make significant advancements in the field. By fostering collaboration and innovation, Cronos Labs is driving the future of AI and blockchain technology.
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