What is Cronos (CRO)?

Cronos (CRO) is the native token of Cronos, an EVM-compatible layer-1 chain developed by Crypto.com. Today, the Cronos network supports hundreds of projects from various Web3 projects, such as DeFi, GameFi, and NFT. With its proof-of-authority (PoA) consensus mechanism, Cronos ecosystem combines decentralization with scalability and eco-friendly transaction processing for dApps and Smart contracts.

CRO holders can use their holdings to pay for gas fees on the Cronos blockchain. They can also stake their holdings to become a validator node by providing on-chain liquidity to the project, which helps them earn additional CRO. Since Crypto.com, a centralized crypto trading platform, supports Cronos, CRO holders also enjoy multiple perks on the platform, including discounts on trading fees and early access to new features.

CRO has a fixed total supply of 30 billion coins after a burn of 70 billion CRO in 2021. The platform mined all these CRO coins when its blockchain went live, making it a non-mineable cryptocurrency.

How Does Cronos (CRO) Work?

Cronos (CRO) uses Ethermint, Tendermint, Inter-Blockchain Communication Protocol (IBC), and Cosmos SDK technologies. The Ethermint blockchain framework on Cosmos SDK provides EVM compatibility to Cronos, while the Tendermint consensus protocol helps it process more transactions per minute than other public blockchains. The advanced framework of Cosmos SDK adds an instant finality feature to Cronos by confirming transactions in a few seconds at a lower cost compared to Ethereum. Then, the Inter-Blockchain Communication (IBC) Protocol establishes the project's interoperability for a seamless asset transfer between different chains.

To maintain consensus at each step, Cronos employs a modified version of the Tendermint PoS called Proof of Authority (PoA). It involves the evaluation of validators by other validators based on their commitment to the Cronos ecosystem. Since the admission of new validator nodes in POA  requires permission from the existing validators, the qualified validators are called permissioned validators. They enjoy the right to implement upgrades, track records, and verify transactions. Furthermore, these permissioned validators enjoy different voting power based on the number of staking tokens they get from other network nodes.

All platform payments associated with the on-chain activities on the Cronos network are payable in the CRO coin. The utility of CRO further extends to Crypto.com, a centralized crypto trading platform where CRO holders get discounts, cashback, and other exclusive benefits.

How to Buy Cronos (CRO) in India?

There are many platforms where you can invest and Buy Cronos (CRO) in India.

One such platform is Flitpay. To buy CRO in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy CRO and execute the purchase.

You can instantly convert your INR to CRO and CRO to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Cronos (CRO)?

CRO can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the CRO till it reaches a high price, and then you can sell it through Flitpay's Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is Cronos (CRO)?

CRO is the native token of the Cronos blockchain, built with the support of Crypto.com. It is used to pay transaction fees and participate in staking and governance associated with Cronos. CRO has a maximum supply of 30 billion coins, all of which were mined at the time of launch.

What is the Cronos (CRO) price in India?

Check out the current INR price of CRO crypto in India on Flitpay.

Which is the best crypto app in India to buy CRO?

Flitpay is the best cryptocurrency app in India to buy CRO, buy Avalanche, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Cronos (CRO)?

Through its scalable, low-cost, and fast blockchain framework, Cronos supports a range of Web3 products, including DeFi, NFT, GameFi, Metaverse, and more. Moreover, Cronos stands out for its eco-friendly and efficient transaction processing for dApps and Smart contracts. Its Inter-Blockchain Communication Protocol further helps Cronos users seamlessly transfer assets and services of various blockchain networks. Lastly, it also acts as the gateway to the Crypto.com ecosystem and its suite of products. Being the native utility currency of Cronos, CRO powers the staking, governance and value transfer processes.

Is it safe to invest in Cronos (CRO) in India?

Yes, investing and trading CRO is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying CRO crypto. It offers real-time prices and advanced investing features.

Where can I deposit and withdraw Cronos (CRO) crypto in India?

Your search for secure crypto deposits and withdrawals ends here. Flitpay is India's most trusted exchange to facilitate hassle-free and Instant deposits and withdrawals of all the top cryptocurrencies with minimal or no fees.