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Introducing Cronos zkEVM

Introduction

In December 2023 Cronos, a leading open-source blockchain project and ecosystem, announced the launch of Cronos zkEVM Chain public testnet, a zero-knowledge (ZK) layer 2 blockchain network that represents a significant milestone on Cronos' journey towards scalability and mainstream adoption.

Cronos zkEVM is a blockchain network using ZK Stack, launched in a partnership between Cronos Labs and engineering teams from Matter Labs (the team behind ZKsync), Crypto.com, VVS Finance, Fulcrom Finance and Veno Finance.

Cronos zkEVM's value proposition includes the following differentiating features:

• Leverages Cronos' vibrant ecosystem of end-users and developers (#CROFam). Utilizes zkCRO, a liquid staked version of CRO, as the gas token.

• Scalable and cost-efficient zero-knowledge proof system leveraging Ethereum security.

• First ZK chain to go live in mainnet besides ZKsync Era, participating in the "end game" of Ethereum scalability.

• "Triple yield" concept supported natively by the DeFi ecosystem: natively yield-bearing cryptocurrencies, DeFi yield, loyalty points.

• Native account abstraction enabling gasless transactions.

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