Cronos, the first Cosmos EVM chain, has released its roadmap updates featuring its priorities for the coming months.
The Cronos team has enjoyed a remarkable first semester, recording all-time highs of over 900,000 users and more than 300 dApps in its ecosystem. However, they’ve updated their roadmap to reach the next level of adoption.
Cosmos Ecosystem is Boosting Crypto Adoption
The team claimed to have seen daily transactions of 480,000 and a total value locked (TVL) of 4.8 billion USD. The new Cronos update outlines the platform’s progress as well as plans for further growth.
Despite the general slow market activity, Cronos has managed to climb the ladder as a top 10 blockchain. At the time of writing this article, Cosmos’s ecosystem has a marketcap of $1 billion. So, to be prepared for the next market cycle, the platform outlined a two-fold ambition:
- To onboard the next billion Web3 users with scalable technology and multiple partnerships with platforms such as Crypto.com.
- Build a thriving DeFI, NFT, and Web3 gaming ecosystem with high-quality applications with more focus on users.
Cronos recently announced that it was coming out of Beta. And the picture below captures its roadmap for the coming months.
Cronos Is Focussing on Interoperability and Cooperation
As per the Cronos update, the platform’s priorities remain to provide access to top-notch DeFi, NFT, and gaming applications. So, the Cronos team said it would leverage its partnership with other chains to facilitate interoperability and cooperation.
The first phase of the cronos roadmap, known as “Protocol and database scaling,” will focus on optimizing the chain’s performance. According to the team, the next major Cronos upgrade (v1.0.0) is currently in testing and will be deployed to mainnet in Q4.
Since moving out of Beta, Cronos has recorded significant improvement in terms of scalability. However, more network upgrades will focus on increasing the scalability of current Cronos technology.
Today, we are stoked to announce Cronos chain’s roadmap for the next 12 months, as well as to provide a glimpse of what Cronos 2.0 will look like. Check out the details in this post: https://t.co/ggTz1gEHiQ pic.twitter.com/whDH8vCSWE
— Cronos (@cronos_chain) September 30, 2022
Also, the team identified the following as priorities:
- Reduction of node start-up time.
- Storage optimization
- Increase in block size
These improvements are aimed at matching Cronos’s transaction throughput with that of the top 10 EVM-compatible Layer 1 and Layer 2 chains.
Cronos’ Emphasis on Developer Tools
As per the Cronos roadmap, the second phase of the protocol and database scaling will focus on onboarding millions of Web3 users. it will also provide support for the high network traffic that will most likely come with the next bull market.
According to the development team, future technology choices must leverage open-source projects, continue to support EVM compatibility, and reliably deliver high transaction throughput. To achieve this, Cronos will launch two initiatives:
- Cronos Rollups: This will see the deployment of rollups technology to the Cronos community.
- Cronos Next Level: A research and development project that will evaluate cutting-edge methods for high throughput without sacrificing application composability.
— GetBlock (@getblockio) September 22, 2022
Cronos already allows for the smooth movement of assets between Cronos and other major chains through their Crypto.com accounts. As part of its roadmap, the platform intends to roll out more technologies to facilitate and improve interoperability and provide a greater user experience.
For example, the Cronos Gravity Bridge, which will serve as a canonical bridge for ERC-20 transfers between Ethereum and Cronos mainnet, has been subject to public testing since June 28th. Cronos plans to move to production in the quarters ahead.
What’s Next on Cronos?
Applications developed on Cronos saw a huge boost in 2022. As a result, part of the roadmap for 2023 will focus on the ecosystem, infrastructure, and tooling. Cronos will give focus on enhancing the visibility and discoverability of dApps in 2023 and the latter part of 2022.
Additionally, Cronos Labs will intensify its programs to support existing programs and attract new ones. Part of these programs include:
- Cronos Accelerator
- Cronos Ecosystem Grants program
At the @token2049 Singapore conference, @cronos_chain's @kentimsit joined a panel hosted by @1inch about "DeFi and Institutions" with @deacix and @missminaeva, @hosseeb (@dragonfly_xyz), @chenbfang (@BitGo) & Brian Gallagher (@partisiampc).
Packed audience! pic.twitter.com/rHGJB7j2tH
— Cronos (@cronos_chain) September 28, 2022
Throughout 2022, the Cronos Labs team has made significant progress adding developer tools, including more wallets integration and Dapp development frameworks. Based on the platform’s roadmap, Cronos will release more developer-focused tools to improve and incentivize creativity.
Finally, the Cronos chain will move closer to decentralization of the chain in the coming months. But developers will give priority to network optimization. Additionally, the Cronos team will pay close attention to transaction fees to ensure they fall within a range that incentivize network validators and encourage activities.
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