On July 3, Cronos, a web3 -blockchain supported by Crypto.com, completed an important upgrade to his EVM -Minnet. The update reduces the block time from approximately 5.6 seconds to less than 1 second, which significantly improves the speed and responsiveness of the network.
With this upgrade, Cronos enters the sub-second block time range and positions himself under the ten fastest block chains for finality on chains. The faster network is expected to support more efficient decentralized applications, in particular in areas such as Defi, payments and AI.
The performance improvement is possible due to recent scalability functions, including BlockstM, a parallel transaction executive executive introduced in the Pallene upgrade. As a result, multiple transactions can be processed at the same time, reducing the transit by the latency.
Cronos has continued to expand to cases from the real world. In collaboration with Crypto.com it became the first blockchain to support direct crypto financing of prepaid cards. With a function called Auto-Harvest, users can automatically convert Defi-relections into Fiat for card supplies. These developments are aimed at improving the user experience, supporting high-frequency blockchain applications and connect on-chain activity with daily financial tools.
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