Crypto.com Cro Staking Calculator
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An editor at Coincrop
13 Sept 2022 | 23 min read
nother project from the Hong Kong-based payment and cryptocurrency platform firm Crypto.com (also known as CRO Protocol Labs) is the Chain token, which was introduced in June 2018.
The Chain has its own Crypto.com Chain (CRO) Token, which is supposed to allow users to make cryptocurrency payments to a wide range of merchants around the world.
The CRO token will allow cryptocurrency holders to convert them into fiat currencies at significantly lower rates. By doing so, the Crypto.com team hopes to combine the tokens global ambition with real-world use case adoption enthusiasm.
The CRO token and the Crypto.com Chain project, which are both based on Ethereum network, have made headlines in early 2019 following their dramatic price increases that put them at the top 50 spot on CoinMarketCap's ranking (as of April 2019) from their earlier low top 100 position.
The CRO token performs the same purpose as Binance's BNB token, which may be used to pay for transaction and trading fees on both platforms, as well as being the precursor to the Cronus EVM-compatible sidechain created by the group.
Matt Blaze, a cryptographer, registered crypto.com as the internet domain's name in 1993. Following the cryptocurrency boom, which made the domain name a coveted asset, Blaze steadfastly refused offers to sell it until the team from Monaco (Crypto.com previous name) approached him and acquired it from him in 2018. The domain was valued at $5–10 million by sellers
Kris Marszalek is the founder and CEO of Crypto.com, a company with a history in financial services and e-commerce. Ensogo was a social commerce firm, as well as Beecrazy (an e-commerce business), which he founded. Rafael Melo (CFO) and Gary Or are other members of the organization's executive team (CTO).
Crypto.com Chain is the next-generation platform that aims to link merchants and cryptocurrency users on a public blockchain with the ability to support instantaneous, cost-effective, and secure transactions between them. This will be accomplished by allowing the Chain to address some of the problems that are identified as major roadblocks on blockchains' way toward wider usage:
Chain, the underlying technology of Crypto.com, is intended to provide high scalability and quick payment processing. The Chain is a payment network that aims to provide immediate payments with confirmations, as well as scaling in line with an increasing number of transactions. The Crypto.com Chain's goal confirmation time is set at less than one second, and the platform claims to be capable of handling 50,000 transactions per second using its decentralized transaction processing protocol.
Crypto.com Chain plans to do away with the current fiat payment system that hampers innovation and growth in cryptocurrency payments. The Crypto.com team is upfront in condemning conventional payment systems for being inflexible, noting that the simple introduction of new currencies and the freeing of tough restrictions on merchants are just two examples.
The issue is exacerbated by having blockchain-powered payment networks that do not make it simple for cryptocurrencies to be integrated and settled. In its place, the Chain will provide comprehensive integration with compatible cryptocurrencies at no cost to merchants.
The dedicated software development kit (SDK) is available for merchants who want to integrate this solution.
Crypto.com Chain, believes that decentralization is the key to making crypto payments a viable option for everyone. The businesses aim is to make Crypto.com Chain become a network of connected cryptocurrency projects of a broader scope over time.
These systems will be designed as replacements for existing payment mechanisms by being easier to set up and cost-effective to run than current payment systems. They will not only be offered support for their native blockchain, but also given access to resources that will make it easier for people new to the crypto industry.
In order to avoid becoming a potential central point of failure and improve its security, Crypto.com Chain has taken extra precautions. The Crypto.com Chain's security features include the use of trusted execution environments (TEEs) to protect data integrity and confidentiality for participants in this ecosystem.
Not only is the platform secure, but it also offers advanced privacy features because of its implementation of multi-signature Merkelized Abstract Syntax Trees (MAST).
Lastly, Crypto.com Chain will contribute to the growth of the Crypto.coms line of MCO Visa payment cards. Given that the cards in question have no annual fees and offer more favorable interbank fees for international transactions, the Crypto.com team saw their Chain platform as an ideal partner in the effort to attract more people into the worldwide cryptocurrency ecosystem.
The Crypto.com Chain incentivizes participants and offers native support for cryptos to make the process of acquiring new customers quicker and more economical in the world of crypto payments.
Cro staking is one way to support the network and in return, you are rewarded with CRO tokens. When you stake CRO, you are essentially locking up your tokens for a set period of time. The minimum stake is 1,000 CRO and the maximum is 100,000 CRO. The longer you stake your tokens, the higher the rewards. For example, if you stake 10,000 CRO for 6 months, you will earn 150 CRO. If you stake the same amount for 12 months, you will earn 300 CRO.
There are two types of staking: Standard and Algorithmic. Standard staking is when you stake your tokens for a set period of time and do not earn rewards for participating in governance. Algorithmic staking is when you stake your tokens and also participate in governance. If you choose to participate in governance, you will have the opportunity to earn more CRO.
To stake CRO, you must have a Crypto.com account and the Wallet app. Once you have these, you can stake CRO by following these steps:
1. Go to the Wallet app and tap on Stake.
2. Select the amount of CRO you want to stake and for how long.
3. Tap on Submit.
4. Your tokens will be locked up for the selected time period and you will begin earning rewards.
If you decide to unstake your CRO before the end of the stake period, you will forfeit some of your rewards. The amount of rewards you forfeit depends on how long you have been staking for. For example, if you have been staking for 6 months and decide to unstake after 3 months, you will forfeit 50% of your rewards.
Staking CRO is a great way to support the network and earn rewards. If you are interested in participating in governance, you can do so by choosing the Algorithmic staking option. This will give you the opportunity to earn more CRO.
Cro Staking Calculator
The Crypto.com staking calculator is a tool that allows you to see how much CRO you will earn by staking for a certain amount of time.
To use the Cro staking calculator, follow these steps:
1. Go to the Crypto.com website and scroll down to the Staking Calculator section.
2. Enter the amount of CRO you want to stake and the length of time you want to stake for.
3. Click on Cro staking Calculate.
4. The calculator will show you how much CRO you will earn by staking for the selected amount of time.
The CRO staking calculator is a great way to see how much you can earn by staking CRO. It is important to note that the amount of CRO you earn will depend on the length of time you stake for. The longer you stake, the more CRO you will earn.
Who Are the Stakeholders in the Crypto.Com Chain Ecosystem?
Because Crypto.com Chain is open to anyone, it has defined roles for the various groups of people who want to participate in it. This way, everyone knows what they need to do and what they will be rewarded for doing.
- Crypto Customer Acquirers
- Merchant Acquirers
The primary duty of customers on the Chain is to use the network to pay for items using cryptocurrencies. The incentive segment is based on the fact that platform users can get discounts in the form of cashbacks when they pay with cryptocurrencies. They also have instant access to these currencies and can spend them directly from their wallets with a wide range of merchants, both online and offline.
Several steps are involved in the customer registration process, which are as follows:
- The customer either creates or registers an already existing cryptocurrency wallet or exchange account.
- The customer shows and scans the QR code at the merchant's location.
- Customer approval must be obtained, which must be completed.
- Customers are charged while merchants are credited in CRO, bitcoin, or fiat money based on their preferences. Customers can use the Crypto.com BlockShield Buyer Protection Program (B2P2) to recover if the purchase goes wrong.
Similarly, after each purchase, the consumer will be required to submit onchain information verifying whether or not the purchased items or services match their description.
Merchants on the Crypto.com Chain
The major function of the merchants on the chain is to take crypto payments for goods and services they provide. In return for that, crypto settlements will be free of charge and will come with an option to provide customers discounts funded by the network.
To become a merchant on the Chain, you can use either fiat currencies or cryptocurrency. You can also choose to go for Crypto.com online payment gateway or stick with your existing point of sale.
They can also simply connect the provided Crypto.com Pay payment button to their websites, allowing users to pay with cryptocurrency in a matter of seconds. In any case, merchants receive payments in CRO or stablecoins immediately after they are credited by Cryptocurrency Exchange Network's wallet account.
Chain is a decentralized payment processing software that maintains the flow of money between customers and merchants.
The Chain, which is operated by Crypto.com Chain, manages customer-merchant payments from transaction authorization to conclusion settlement. It distributes chain participation earnings as well as dispute resolution processes among the chain participants.
What Are the Roles of Crypto Customer and Merchant Acquirers?
Customers acquirers are in charge of attracting and servicing clients to give them immediate access to assets. The acquirers, in addition to allowing Crypto.com users to connect, authorize transactions on the network, i.e., payment requests related to consumer-merchant interactions at a merchant's point of sale.
The process of becoming a customer acquirer on Crypto.com involves the following steps:
- Sign an agreement that covers the procedures for processing, settlement and dispute resolution.
- Pass compliance evaluation
- Have a minimum amount of CRO locked up
- Integrate the Crypto.com SDK
- Pass user acceptance testing
Merchant acquirers, on the other hand, acquire merchants on the network and submit transactions for approval based on payment requests received from the POS. Deals involving online merchants using the self-service payment gateway, offline merchant who accept credit cards, debit cards, Alipay, or Wechat pay are all included.
Crypto.com Chain Architecture
The architecture behind Crypto.com Chain was created to support several layers that are responsible for meeting the demands of a variety of users with various types of needs, such as web and app wallets, payment apps like Alipay or WeChat Pay, crypto asset exchanges (identified by their symbols), credit/debit card payments enabled by mobile wallets, and more.
The council nodes manage the transaction validations, settlement operations, and fee reception. Council nodes are responsible for managing the network, verifying transactions and administering rewards that are based on CRO. Council nodes get paid for their work in terms of transactions processed.
These nodes maintain a whitelist log of council, acquirer, and settlement agent node IDs.Furthermore, the council nodes utilize a Byzantine Fault Tolerance (BFT) consensus protocol to decide the definite transaction sequence order.The platforms initial version will be based on the Tendermint Core.
Acquirer nodes (including merchant and customer acquirers) manage the settlement on behalf of others, offer an escrow service (Proof of Goods & Services Delivered), and perform other services relating to verified merchant name mapping. Nodes that process transactions are rewarded according to the amount of each transaction.
Settlement agent nodes are responsible for selling CRO tokens for stable currencies and settling transactions for themselves. After the settlement, the aim is to give merchants with cost-stable conversion choices. Settlement agents may make money by providing conversion services and charging a 0.50% fee for fiat payouts to merchants.
Community nodes are transaction hubs between customers and merchants that also serve as a network control centre for users.
CRO tokens are used for intermediary currency settlement across various assets as a native token of the Crypto.com Chain. To pay for block transaction fees, all Chain participants who conduct transactions must utilize CRO coins.
You can earn tokens mainly as rewards for processing and verifying transactions. By staking a certain amount of CRO tokens, you gain the right to participate in network operations.
As of April 2019, the market cap for the CRO cryptocurrency was 304 million USD. Approximately 4.9 billion tokens were in circulation, out of a planned supply of 100 billion. The token is available for trading on crypto exchanges such as Bittrex and HitBTC, among others.
How Much Can I Earn From CRO?
If you don't want to keep your own CRO in one of the, you can earn interest from one of the following:
|Organization||Deposit assets||Reward assets||APY Rate|
Data provided by Seedling
Crypto.com is a convenient platform that consolidates all of your cryptocurrency needs in one place. The company has developed its own CRO token which gives users significant advantages such as lower transaction fees, early access to new products, and exclusive rewards. Staking CRO tokens also earns you a passive income in the form of daily payments.
The CRO staking calculator is a straightforward tool for estimating your cryptocurrency return on investment. It's a user-friendly tool that experts and novices may utilize. The CRO staking calculator factors in the current market value of each currency as well as the daily staking payment. This makes it a precise method to calculate your profit margins.
JonathanAn editor at Coincrop
Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.
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