Cronos zkEVM Launches, Boosting Ethereum Scalability

Web3 startup accelerator Cronos Labs has announced the alpha mainnet launch of Cronos zkEVM, a Layer 2 blockchain on Ethereum (ETH), on the ZKsync Elastic Chain. According to the company’s August 15 press release, Cronos zkEVM is the first chain to use the ZKsync technology platform, along with the Era chain.

8/15/20242 min read

Expanding the Cronos Ecosystem: Focus on DeFi and Gaming

Cronos zkEVM is designed to solve the scalability challenges that have plagued blockchain networks, especially Ethereum. By leveraging zero-knowledge (ZK) proofs, the chain aims to provide significantly faster transaction speeds, lower fees, and improved security compared to traditional blockchains.

Cronos zkEVM extends the reach of the established Cronos ecosystem, integrating with the existing Cronos EVM and Cronos POS blockchains. Together, these networks manage $6 billion in user assets.

A key feature of Cronos zkEVM is the introduction of zkCRO as the native gas token. This change from the Ethereum model of using ETH as gas is intended to provide more flexibility for users and developers. Additionally, the chain incorporates account abstraction, a technology that simplifies user interactions and allows for more types of transactions.

Partner with ZKsync

Cronos zkEVM seamlessly integrates with ZKsync Elastic Chain, a network of interconnected ZK rollups built on ZKsync technology. This collaboration aims to promote interoperability, allowing users to easily transfer assets and interact with various applications on different ZK chains in the Elastic Chain ecosystem.

As part of Elastic Chain, the new Cronos chain will also have access to the same native Ethereum bridge as ZKsync Era.

Additionally, Cronos zkEVM coexists with the existing Cronos infrastructure, which has facilitated over 150 million transactions from a dedicated user base of over 1 million individuals.

Cronos zkEVM in Alpha phase until September

The launch follows a successful testnet phase that began in December 2023. During this phase, Cronos zkEVM processed millions of transactions from a user base of over 3 million unique addresses. This testnet phase serves as the foundation for Cronos zkEVM’s transition to the mainnet environment.

Cronos zkEVM will operate in alpha until September 2024. During this time, Cronos Labs says, engineers will closely monitor network performance and collect user feedback to optimize the platform.

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