Declaration of Independence – Currently hosted on Ethereum, Crypto.com has just unveiled a date for a future migration to its own blockchain. It will be launched on March 25th.
Take-off scheduled for March 25
It is on Twitter that Crypto.com revealed the launch date of its mainnet.
After 2 years on the Ethereum network, Crypto.com should migrate to its own blockchain, called « Crypto.com Chain », on March 25, 2021.
This public blockchain is the result of 2 long years of development and has been tested on 2 functional testnets. It was developed on the Cosmos network and benefits from the proof of stake system proposed by Tendermint.
With this new blockchain, Crypto.com hopes to meet the same success as the Binance Smart Chain and develop its DeFi ecosystem.
70 billion CROs destroyed, progressively
For this occasion, Crypto.com will perform a mass destruction of 70% of the CRO tokens in circulation.
This means that 70 billion CRO tokens, the equivalent of $17 billion, will be destroyed in two stages:
This news is causing the cryptosphere to react, and not only that: the price of CRO tokens continues the upward trend of the last few months, right in the middle of the market turmoil.