The blockchain network Cronos Labs has announced the launching of its third accelerator program.
The initiative will target new dapps in the crypto industry at an early development stage with an investment of $100 million.
The accelerator program will last 12 months. During it, the participants will receive various trainings. The announcement of the third accelerator program took place while Korea Blockchain Week was starting.
Cronos is a decentralized blockchain network developed by Crypto.com. It is the first blockchain network that interoperates with the Ethereum (ETH) and Cosmos ecosystems. The main focus of Cronos is to facilitate the adoption of decentralized finance (DeFi), non-fungible tokens (NFTs), and metaverse use cases.
The Cronos blockchain is designed for developers looking to port their decentralized applications (dApps) and crypto assets from other chains to the Cronos ecosystem. It offers low transaction fees, high throughput, and fast finality, making it an attractive platform for developers and users.
Since its mainnet launch in November 2021, Cronos has surpassed $4 billion in total DeFi asset value and has processed over 60 million on-chain transactions with over one million active users.
Cronos aims to foster global adoption of DeFi and Web3 technologies by providing developers with the necessary tools and infrastructure. By enabling easy portability of dApps and assets, Cronos aims to create a vibrant ecosystem where users can access a wide range of decentralized financial services and participate in the growing metaverse.