Interview with Ken Timsit: Exploring Cronos, the EVM-Compatible Blockchain Network
In a recent interview, Ken Timsit, the Managing Director at Cronos Labs, discussed the key features and goals of Cronos, an EVM-compatible layer 1 blockchain network built on the Cosmos SDK. Cronos aims to provide a seamless Web3 experience for the next wave of crypto users, with a focus on consumer use cases in DeFi and GameFi.
Timsit emphasized the importance of partnerships with regulated exchanges like Crypto.com to ensure user choice between regulated custody and self-custody options. He also highlighted Cronos’ alignment with the vision of the Cosmos ecosystem, which promotes self-sovereignty and a multi-chain world.
Cronos’ scalability is achieved through its layered ecosystem, with the Crypto.org chain as the base layer for basic payments and transfers, the Cronos blockchain as the layer 1 network for Ethereum-compatible decentralized applications, and layer 2 rollups for specific use cases. The use of EVM allows for easy deployment of applications and smart contracts.
Cronos uses the Proof of Authority implementation of the Tendermint consensus to ensure decentralization and network performance, with validators requiring approval from the governance. Timsit also highlighted the goals for the future, including increasing scalability, enhancing interoperability, and supporting innovative developers through programs like Cronos Builders and Cronos Accelerator.
Overall, the partnerships with Crypto.com, AWS, Google Cloud, Protocol Labs, Ubisoft, and others have been instrumental in driving the adoption and growth of Cronos.
Hot Take:
Cronos, an EVM-compatible layer 1 blockchain network, aims to make Web3 accessible and user-friendly for the next billion crypto users. Its layered ecosystem, partnerships with regulated exchanges, and use of the Tendermint consensus contribute to its scalability, interoperability, and compliance. By focusing on consumer use cases in DeFi and GameFi, Cronos seeks to drive the next wave of Web3 adoption. The Cronos Builders and Cronos Accelerator programs support innovative developers and startups in the ecosystem. With partners like Crypto.com, AWS, Google Cloud, and Ubisoft, Cronos is well-positioned to expand its reach and impact in the crypto space.