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 intendsย to provide a seamless Webย 3.0 experience for the next wave of cryptocurrency 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 secure user choice between regulated custody and self-custody alternatives. He likewise highlighted Cronosโ alignment with the vision of the Cosmos ecologicalย system, which promotes self-sovereignty and a multi-chain world.
Cronosโ scalability is achieved through its layered ecologicalย system, 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 secure decentralization and network performance, with validators requiring approval from the governance. Timsit likewise 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, intendsย to make Webย 3.0 accessible and user-friendly for the next Billion cryptocurrency users. Its layered ecologicalย system, 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 Webย 3.0 adoption. The Cronos Builders and Cronos Accelerator programs support innovative developers and startups in the ecologicalย system. With partners like Crypto.com, AWS, Google Cloud, and Ubisoft, Cronos is well-positioned to expand its reach and impact in the cryptocurrency space.
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