Platform cryptocurrencies are a fascinating study topic. They represent a new paradigm and explore the possibilities of blockchain ecosystems. Notably, Bitcoin emerged as a standalone coin and subsequently an asset. The CRO token is different because it is a platform cryptocurrency that aims to fuel payments on Crypto.com.
The concept of payment crypto is good for rapid transactions. Crypto gambling and other retail payments become more manageable with more transaction ease. Naturally, some people will still engage in online gambling using the two most prominent cryptocurrencies.
That said, their exorbitant transaction fees and scalability issues are giving more crypto enthusiasts a reason to explore other cryptocurrencies.
About Crypto.com and CRO Token:
Crypto.com wanted to build an all-in-one platform for cryptocurrencies. This platform would facilitate purchasing, trading, and selling coins—the site intended to leverage payment solutions as the primary tool for driving adoption.
Bitcoin’s original goal was to be a peer-to-peer digital cash system. However, in recent years, it has become a speculative store-of-value asset primarily.
Accordingly, Crypto.com has taken a broader approach to facilitate many other aspects of crypto commerce. This diversification includes the introduction of a cryptocurrency Visa card and an exchange.
Now, on to the CRO token. The Crypto.com Coin (CRO) is the native token of the Crypto.org chain.
Notably, this token launched as an ERC-2O project.
However, in due course, the scalability issues of the Ethereum blockchain reared their ugly head. The management team decided to go all in and create a new blockchain.
Building a Wide-Ranging Ecosystem
Accordingly, the Crypto.org Chain takes up the aims of the larger ecosystem. The goal is to build a network of cryptocurrency projects.
Crypto.com is taking the role of an Ethereum, but with global transaction efficiency in its sights. Such an ecosystem develops the ability of merchants to accept cryptocurrencies as payments.
This chain is a vital infrastructural foundation for seamless transactions between users and merchants.
Making transactions efficient and secure is a massive undertaking and needs a bold approach. Besides, users can provide liquidity and stake CRO tokens to earn yield.
CRO tokens are also vital in this endeavor. Merchants can use this platform to enable customers to make crypto payments.
Accepting Bitcoin payments is possible, but it is tedious and takes too long.
Receiving instant payments in CRO tokens or stable coins makes it more of an incentive for merchants to accept crypto. Fiat payments still enjoy dominance because of integrated systems that make payments flow.
Having utility infrastructure places CRO on a better footing to gain adoption.
The Crypto.com platform does the following:
- Improved payments with a native token, Crypto.com Pay, and a Visa Card.
- Facilitating crypto trading- The platform has a Crypto.com App and the Crypto.com Exchange.
- Other financial services such as DeFi products, Crypto Earn, and Crypto Credit.
This token has far better scalability and supply than Bitcoin.
It has a total supply of 100 billion. Accordingly, it takes cryptocurrency away from the speculative angle to a standard means of payment.
CRO token is getting popular because it connects the real world and many economic sectors. In the first part of 2020, the token boosted total users by at least 50 percent.
This period is significant because it came before the monster crypto rally of late 2020. CEO Kris Marszalek claimed the growth came from products, not token speculation.
This organic boost in popularity bodes well for a cryptocurrency that aims for global adoption. That model is better than depending on speculative cycles that underpin many other cryptocurrencies.
Therefore, it could be a sleeping giant. Its price is still well below $1 and has had a stuttering run of late. Nonetheless, its price does not seem to follow speculative trends but relies on the platform’s development. Other competitors like XRP have had their challenges but operate mainly along those lines.
The growth of payment tokens will be more apparent as cryptocurrencies become a more prominent fixture of ordinary commerce.
CRO tokens are useful in online gambling. They have negligible transaction fees and high liquidity.
A crypto gambling enthusiast can move CRO tokens seamlessly from their wallet to the crypto gambling platform and wager. The beauty of blockchain finance is that it bypasses centralized bottlenecks.
These restrictions are problematic for gambling enthusiasts who may have to comply with certain disclosures and approvals moving money from their bank account to the crypto gambling platform.
Therefore, leading crypto gambling platforms like BC Game list this token. This token is gaining traction within the crypto community and will continue to rise gradually.
Platform cryptocurrencies are a bold experiment.
Their growth is often dependent on how well the platform does.
That said, some like CRO tokens grow to facilitate many other aspects of blockchain commerce.
This coin is helpful for many simple transactions because it has the scalability and infrastructure to go along. In the future, it will be one of the fascinating cryptocurrencies to watch.