Cryptocurrency exchange Crypto.com has launched a fully decentralized open source public blockchain, the Crypto.org Chain.
In an announcement today, the encryption exchange said had launched its public blockchain Crypto.org after more than two years of research and development, two testnets and a mainnet simulation with 275 million transactions allegedly processed in one month. The native token of the blockchain will be the Crypto.org Coin (CRO).
Last month, Crypto.org burned more than 70 billion CROs – about $ 10 billion at the time – before the mainnet launched. The new network has already processed more than 7,000 transactions at the time of publication, which Crypto.com said were intended for “payments, DeFi and NFTs”.
“Decentralization is important”, said Crypto.com CEO Kris Marszalek. “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. “
With over 10 million users, crypto exchange made significant offers this month with the launch of a non-fungible token, or NFT, platform with exclusive artist content. In addition, the company recently joined the Visa network to expand the reach of its cryptographic credit card.