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Cronos’ Ken Timsit (Interview) – Crypto News News

                                                            In einem kürzlich geführten Interview mit <em>CryptoPotato</em> Während der EthCC 5 in Paris erläuterte Ken Timsit, Geschäftsführer von Cronos Chain und Cronos Labs, die Vorteile des Netzwerks gegenüber anderen Wettbewerbern, sprach über die aktuelle Baisse und was Cronos in Vorbereitung auf die nächste Hausse unternimmt, die Zukunft des Internets und der Cryptowährung und vieles mehr.

Cronos Chain Vs Cronos Labs Vs

Cronos Chain is a relatively new one Blockchainnetwork powered by the popular crypto exchange CryptoCom and linked to both the Ethereum and cosmos-ecosystems work together. It is powered by Ethermint and allows porting dapps and smart contracts from Ethereum and EVM compatible chains.

It doesn’t have a founder “because it’s an open-source project, developed by the Cosmos community and then adopted and put into production by a team,” according to Timsit.

CryptoCom’s support means that all exchange users can operate on the Cronos blockchain, as can all CRO holders (the company’s native cryptocurrency). As such, Timsit estimates that the total number of addressable users is approximately 50 million at the time of this interview.

So far, however, only about a million have “migrated and created an account on the Cronos chain,” and the number of third-party applications built on the blockchain is about 300.

investment tip Cronos&#8217; Ken Timsit (Interview) – Crypto News News, Crypto Trading News

Cronos Labs, on the other hand, serves as the foundation for nurturing the Cronos ecosystem. It manages a $100 million accelerator program, released in June looking to invest in early crypto startups that are likely to develop the most innovative projects on Cronos.

However, Timsit emphasized that his team does not believe in walled gardens and encourages applicants on Cronos to go multi-chain as well.

The executive also informed that not all projects looking to take advantage of the program need to have their own native tokens because “often if you just NFTs as in-game assets is only sufficient with NFTs to create a business model.”

If its about DeFiprotocols, Timsit believes they should have their own token. coin since they generally have many stakeholders.

“You use the token to ensure that each actor has the right incentives to behave in the way you want them to. This is why tokens are often useful for this reason. But what we’re really interested in are applications that find a way to charge transaction fees from their users or monetize the protocol.”
Cronos&#8217; Ken Timsit (Interview) – Crypto News News, Crypto Trading NewsKen Timsit, Cronos. Cronos Recent Layoffs

When asked if staff cuts Affecting the two projects he leads, Timsit assured that they are separate organizations: “Cronos and Cronos Labs are independent from CryptoCom as far as the companies and facilities are concerned.”

Still, the CEO admitted that they too have been affected by the falling market prices and user interest. Strategies have changed as it no longer makes sense to overspend on marketing like it did a few months ago.

He added that daily transactions on the Cronos network are currently somewhere between 100,000 and 200,000 and had peaked at nearly 500,000 just before the recent market crash.

Total Value Locked (TVL) peaked at $5 billion but is now down to $1.5 billion. It is still the fifth largest EVM chain, according to Timsit.

‘Do much more than just trade crypto’

With so many major VCs supporting emerging projects from the much-vaunted Web3 gaming and Metaverse vertical, Timsit addressed that topic as well. He described it as a virtual world that allows for “asset self-custody and direct integration with smart contracts.”

“Our vision is that this is the future of crypto. We believe the next step for anyone currently trading, buying and selling crypto is to leverage DeFi and Web3 Gaming so they can do more than just trade crypto. You can borrow and lend assets that have meaning and utility in these virtual worlds; they can invest these assets in various yield-generating protocols.”

However, he claimed that Web3 can only reach its full potential in environments “where the applications are compatible with each other and composable, which is the strength of the EVM ecosystem.”

Source: Crypto News Deutsch

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