Table of Contents

Dareplay announcement

We’re happy to announce that DarePlay has expanded our presence on #CronosChain. Cronos interoperates with both Ethereum & Cosmos and supports DeFi, NFTs, Games & Metaverse. This is where we share the same vision with Cronos

#DarePlay is a #Web3 hub aggregator for blockchain gaming, SocialFi & Metaverse projects. We’re happy to bring to #CronosChain full-stack services in our all-in-one platform, which would be helpful for Cronos-based projects (games, game guilds, non-games), NFTs, and users.

We’re happy to bring to #CronosChain full-stack services in our all-in-one platform, which would be helpful for Cronos-based projects (games, game guilds, non-games), NFTs, and users:

1. Cronos-based NFT marketplace
2. NFT sales launchpad for Cronos games
3. Token Launchpad for Cronos projects
4. Cronos game, guild, event listing & news outlet
5. Staking services for Cronos projects
6. Staking, INO, IDO self-creating customized to Cronos projects

Check out DarePlay: https://dareplay.io/

Why DarePlay on Cronos Chain?

Cronos is a layer-1 blockchain network that is compatible with Ethereum and is based on the Cosmos SDK technology. The network was built to scale decentralized finance (DeFi) and the user base of decentralized applications (dApps) by allowing developers to instantly port dApps and assets from other layer-1 blockchain networks such as Ethereum, Solana, BNB Chain, and Terra. Since the mainnet went live in November 2021, the network has grown to over 200 partners and 450k plus Web3 users in less than five months.

Powered by the Singapore-based giant cryptocurrency exchange company Crypto.com, the Cronos chain is classified as one of the most popular blockchain networks at the moment. According to Defi LIama, the Cronos chain is in the 7th position of all the chains in terms of TVL. The highlight point is that the Cronos mainnet was launched only in November 2021, making it the youngest chain in the top 10 high-TVL blockchains on Defi LIama. At the end of last year, the chain reported that it had more than 350,000 unique active addresses. Along with that, there was around $2 billion being locked. There were 26 live validators active and securing the network of more than 75 dApps and services deployed in all types, including DeFi, NFT, GameFi, etc.

Recently, Cronos launched a $100M accelerator program to boost ecosystem growth. Through the program, the chain stated the intention to enhance the potential of would-be-on-Cronos projects. All chosen projects will go through a 10-week initiative with a $100 million war chest that will be granted to the best ones staying at the end of the program.

On May 2, 2022, Cronos (CRO) was the tenth most popular cryptocurrency according to CoinMarketCap.

They state that “instant DApp Portability with EVM Support” is offered by the Cronos Chain. By being portable, Cronos enables Dapps (decentralized apps) to communicate with one another and with other platforms. The Ethereum Virtual Machine is referred to as EVM.

The Ethereum Virtual Machine is the digital computer that runs the Ethereum (ETH) blockchain. Therefore, they assert, Cronos can instantly link Dapps to any Ethereum platform or DApp. Theoretically, Cronos could link Dapps to any EVM-compliant blockchain, such the BEP-20 tokens on Binance.

Moreover, Cronos’ engineers constructed Cronos on Ethermint. Ethermint is a high-throughput Proof-of-Stake blockchain that is scalable.

Users of Ethermint can utilize Ethereum as a Cosmos-specific blockchain. They used the Cosmos SDK to create Ethermint, which has a Tendermint Core (software development kit). They assert that by utilizing Ethermint, Cronos can quickly transfer smart contracts and applications from Ethereum and other EVM-compatible networks.

Cronos claimed to have a higher transaction processing rate than Ethereum. On May 1, 2022, according to Ycharts estimations, Ethereum was doing 1.55 million transactions per day.

Notably, Cronos developers integrated Cronos with the Inter Blockchain Communications (IBC) protocol.

An interoperability protocol called IBC transmits unrestricted data between unrestricted state machines. The transport layer and the IBC application layer are the two separate layers that make up the IBC protocol.

The infrastructure for creating safe connections and authenticating data across blockchains is provided by the transport layer. How the data are packaged and interpreted by the receiving chains is specified by an application layer.