Crypto.com has released details of all its activities in the month of April. It consisted of development activities on its alpha testnet, besides the slew of promotions and partnerships.
Crypto.com announced the launch of its alpha testnet in an official blog post on May 15. Though still in its development phase, several existing updates already exist on the testnet.
Balanced transaction structure
According to the blog, Crypto.com has been working on stabilizing its primary transaction types. This, in essence, will enable third parties to work effectively in the fintech platform ecosystem.
Crypto.com launched its version 0.5 on Github equipped with several upgrades.
- Development report included improvement implementation of several major dependencies. Key upgrades include the latest versions of SGX SDK (software development kit) and Tendermint.
- Upgrades also focussed on revamped incentive designs to beef up the platform’s reward programs.
- Other changes include replacing the storage layer for staking with the “Jellyfish Merkle Tree”, similar to what is used in the Facebook Libra project. Also, workflow for wallets is now in “air gap” settings as part of the latest upgrade. Besides, the relaunch of the public testnet took place from a new genesis.
Java and Swift sample code
Crypto.com had previously announced C bindings. The latest development has introduced sample codes in Java and Swift programming languages for now. Plans are, however, in place to introduce more comprehensive, idiomatic, and complete SDKs soon.
Another key update is the improved version of the sample GUI wallet that can now work with the most recent upgrades testnet version. The blog promised to report on more functionalities once they are added.
Revamped Crypto.com Chain explorer
Alongside these various upgrades, there has been a revamping of the fintech platform’s Chain explorer. This new version will display more information relevant to the council node operators as well as community members.
The homepage is expected to look like this.
Explorer 2.0 homepage
Source: Crypto.com blog
The fintech firm in its blog post also hinted at several updates to look out for in the coming months. They include mobile SDKs, wallet support, new explorer website, initial hardware wallet support, “beta preview”, etc.
April 2020 update and offer roundup
Apart from these development activities, Crypto.com had been its usual busy self during April unveiling updates on many promotional activities and partnerships.
Syndicate VET Results
Syndicate VET event ended with 29.3X oversubscribed and 115.3 million VET allocated. 131.6 million CRO was provided by 3,500 users. ETH Syndicate event ended with 34x oversubscribed, with 1.5 thousand ETH allocated. 130.4 million CRO was also contributed by 3,180 users.
Support to EIU
The fintech platform has lent its support to the Economist Intelligence Unit (EIU) and its in-depth research on crypto.com. The research covered important areas like the contribution of digital currencies to ensuring a cashless economy.
Collaboration with TV-TWO
In a bid to boost crypto adoption, Crypto.com entered a strategic partnership with TV-TWO. TV-TWO currently holds the world record for the best crypto content discovery.
Improved interest rate and soft staking
Users on Crypto Earn can now enjoy up to 6.5% interest in BTC and 5% on ETH every year. With VET tokens, users will earn 6% every year on their deposits. However, private users can earn as high as 8% per annum.
Besides, users can now “soft stake” BCH on Crypto.com while also enjoying daily interests.
Other major updates during the month include:
- Ledger list support for five crypto tokens – Ledger now accepts CRO, BTC, ETH, LTC, and XRP. Furthermore, users can spend this crypto tokens on the Crypto.com Pay app.
- Special offers for Apr-Jun 2020 – Due to the coronavirus epidemic, Crypto.com is offering its users special promotional measures from April to June 2020.
- USD withdrawals on ACH for US users – United States users can now enjoy USD withdrawals using Automated Clearing House service and get the fiat currency directly to their bank account.
- EOS and XLM support – Crypto.com users now have instant access to loans using EOS and XLM as collateral. It also enabled the users to secure loans with as little as 50% loan to value (LTV) ratio.
- Syndicate lists VET – April also saw the listing of VeChain (VET) tokens on the Syndicate.
In another key promotional move, the fintech platform announced its tokens MCO and CRO getting listed on the Indian exchange CoinDCX. Alongside this announcement, Crypto.com App also went live in India about a month ago.