Crypto exchange platform Crypto.com has reportedly made its fully decentralized open-source public blockchain – dubbed Crypto.org Chain – officially available.
Specifically, the crypto exchange reportedly revealed that it has rolled out Crypto.org public blockchain, following over 24 months of research and development, two testnets, and a mainnet dry run – which finalized the processing of 275 million transactions in one month.
The Crypto.org Coin (CRO) will reportedly function as the blockchain’s native token.
In February, Crypto.org reportedly burned more than 70 billion CRO – approximately $10 billion at the time – prior to the release of its mainnet. The new chain has reportedly already completed the processing for over 7,000 transactions, which Crypto.com disclosed that was targeted at “payments, DeFi and NFTs.”
“Decentralization matters. Today, you are faced with bad options. You can use Blockchain A and pay high fees in a slow, congested, but decentralized environment. OR, you can use Blockchain B, fast, low cost, but known to be completely centralized.” Head of Crypto.com – Kris Marszalek – reportedly remarked.
Having already had over 10 million users, the crypto exchange platform has reportedly rolled out various noteworthy features in March, following the release of a non-fungible token (NFT), as well as a platform with exclusive content from artists.
Moreover, the company has reportedly become a member of the VISA network to widen the scope of its crypto credit card.