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A blockchain network handling on-chain transactions, like Ethereum, is considered to be a Layer 1 L1 chain. However, the massive adoption of crypto in recent years, coupled with the arrival of numerous new projects running on top of L1 chains, put a strain on L1s. As their cryptocurrency payment gateway: initial architecture was not designed for managing huge transaction volumes, the chains faced bottlenecks, https://www.hakshackwoodworks.com/forum/general-discussions/crypto-shiba-inu, which translated into higher transaction fees and lower processing speed. ... / 7 days The Cronos team is relatively small compared to its competitors despite the backing of Crypto.com. The company was founded in 2017 and launched its Monaco MCO token through an initial coin offering ICO before rebranding itself as Crypto.com. Although the company has a sizable user base of 50M, there are not enough dapps on the Cronos blockchain today. Therefore, they started the Cronos ecosystem grants program to support early stage startups by bootstrapping product development and providing tech support.

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