CRO
by BSC News
November 1, 2022
Cronos Chain has released an update to its roadmap for the next 12 months. The network finally graduated from the beta stage in September.
Cronos has explained via a detailed plan on a September 30 Medium that it will continue building as it anticipates the next bull cycle.
It explains that although activities on most blockchains have gone down due to the impending global economic conditions, the crypto community has validated its’ value proposition, which is why it will continue building.
An excerpt on its roadmap announcement validates the claim by stating:
“During the first semester of 2022, Cronos achieved all-time highs of more than 900,000 users, more than 300 Dapps, 4.8 billion USD in total value locked (TVL), and 480,000 transactions per day. Cronos is firmly established as a top 10 chain.”
The chain's ambitions for the next cycle are divided into two stages.
Cronos has recorded over 50 million transactions so far. Its development team will optimize the chain’s performance during Phase 1 of protocol and database scaling.
It has had two major updates (v0.7.0, then v0.8.0 shortly after). It has also received other minor updates meant to optimize its performance. Another update (v1.0.0) is currently in the testing phase and will be deployed in Q4 of 2022.
The next network upgrades will focus on the following:
This phase is meant to increase the capacity of the network to serve more users. The team believes that the network should maintain the following characteristics:
Cronos Chain will launch two main initiatives to achieve its objectives under this phase.
This initiative will encompass the deployment of roll-up technology, and there are already available open-source resources for the process.
Cronos Next Level is an R&D project to explore novel approaches to increase the network’s throughput while upholding its composability. This initiative’s design is still at an early stage of development. It relies on two work streams: Parallelization of smart contract execution and modularization of storage
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