Crypto.com has officially launched its own blockchain for the CRO token, which was previously issued in ERC 20 format. It took over two years to develop and test this open source network, called Crypto.org Chain.
CRO holders now have to migrate tokens to the blockchain in the application on the project website or on cryptocurrency exchanges, partners of the Crypto.com project.
Crypto.org Chain developers point out that the transition is not limited by strict deadlines, nor does it provide any bonuses. The launch of its own blockchain is driven by the desire to solve the scaling problems of Ethereum. In the future, the network will independently develop the DeFi industries and the release of NFTs.
Investors did not react to the launch of the blockchain in any way, the CRO token continued to decline, updating the lows of the week. Crypto.org Chain claims to decentralize the network, but so far the nodes are controlled by developers and partners.