Cronos Partners with Caldera to Deliver Blockchain Scalability via Rollups
Optimistic Layer-2 Rollups are Now Available on Cronos Mainnet
June 27, 2023 - Cronos Labs, a blockchain startup accelerator focusing on decentralized finance, blockchain games, and the development of the Cronos ecosystem, announced today that it has successfully completed the testing of Caldera’s rollup deployment technology on the Cronos mainnet. On-demand optimistic layer-2 rollups are now available to application developers building on the Cronos chain with high throughput requirements.
Cronos is the leading EVM-compatible layer-1 blockchain network built on the Cosmos SDK, focused on creating a highly scalable and carbon neutral application ecosystem for DeFi , NFT and Web3 gaming. Cronos is supported by Crypto.com, Crypto.org and more than 500 validators and application developers.
Over a period of several weeks from April 2023 onwards, Cronos Labs worked with the Caldera team to deploy and test Caldera’s optimistic layer-2 rollup deployment technology on top of Cronos network (testnet, followed by mainnet).
The tests included a diverse set of transactions including basic cryptocurrency transfers, ERC20 fungible token transfers, ERC721 non-fungible token transfers, and complex smart contract calls such as swaps.
Over 200,000 transactions were successfully completed as part of these tests, with 100% success rate. The average cost per transaction was 0.02 CRO, or 0.001 US Dollars, more than 50 times cheaper than regular Cronos transactions thanks to the batching of layer-2 transactions into layer-1 records every 20 minutes or so.
This means that the Cronos ecosystem can now support hundreds or even thousands of transactions per second (10 to 30 times the current TPS), with an ecosystem of Caldera-enabled layer-2 chains sharing Cronos as the layer-1 settlement layer.
A trustless bridge, based on optimistic rollup technology, was created between Cronos’ layer-1 and a newly set-up layer-2. Trustless cryptocurrency transfers between Cronos and the layer-2 chain were successfully completed as well.
Ken Timsit, Managing Director of Cronos Labs, said: “Layer-2 rollups are an integral part of Cronos’ scaling roadmap , alongside other initiatives such as optimizing node performance, increasing block sizes, and reducing block times. With Caldera, developers can now leverage proven optimistic rollup technology without having to worry about setting up the infrastructure needed for an application-specific chain. The resulting high speeds and low cost of transactions will enable innovative use cases, particularly in the gaming and social realms.”
Matt Katz, CEO of Caldera, added: “We're super excited to offer rollups to Cronos' developer community! With Caldera, it's now possible to launch customizable, performant app-rollups that settle on and natively interoperate with Cronos. Caldera's tech makes it easy to launch one of these chains without writing code or managing infrastructure, and Caldera chains come with other infrastructure like block explorers included, meaning that members of Cronos' developer community can focus on their application logic, while we handle the rest.”.
Effective immediately, Caldera’s technology and support are commercially available on mainnet to developers who wish to deploy application-specific high throughput layer-2 blockchain networks on top of the Cronos ecosystem.
Such application-specific chains are particularly relevant for Web3 games that have scaled up enough to achieve significant transaction volumes of hundreds of thousands of monthly active users. Other relevant high-volume use cases include social media platforms, NFT-enabled event ticketing, as well as a broad range of enterprise applications.
For application creators, the value proposition of Cronos layer-2 optimistic rollups powered by Caldera is compelling:
Available now on Cronos mainnet.
High scalable: they are able to deliver low transaction costs to high-volume blockchain use cases (around 0.001 USD). With a mesh of rollups sharing Cronos as the layer-1 settlement layer, the Cronos ecosystem can now support hundreds or even thousands of transactions per second. The block gas limit of the layer-2 can be optimized for each specific use case.
EVM compatible: optimistic rollup technology is easy to use for developers who are familiar with Ethereum technology and tooling. Apps can be quickly ported over from any other EVM compatible chain.
Secured by the Cronos layer: the transactions of the rollup chains are recorded on Cronos, which already secures hundreds of millions of US Dollars in total value locked.
Integrated with the Cronos ecosystem: when they build on Cronos chain, application developers have access to a total addressable market of more than 80 million users.
Cronos Labs will provide strategic advice, technical support, and potential grants to application developers with relevant use cases for this technology. For any questions, please get in touch at email@example.com
Cronos (cronos.org) is the leading EVM-compatible layer 1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org and more than 500 app developers and partners. The mission of Cronos is to make it easy and safe for the next billion crypto users to adopt self-custody in Web3, with a focus on DeFi and GameFi.
Cronos has skyrocketed to a top 10 position among all chains and is adopted by >1 million users. The chain is powered by the Cronos ($CRO) cryptocurrency, which supports an ecosystem of more than 80 million users worldwide.
To build on Cronos, application developers can leverage: all the major Ethereum developer tools; Cronos Play, a suite of tools and integrations for Unity, C++ and Unreal games; IBC cross-chain connectivity to Cosmos chains; and a rich ecosystem of composable DeFi and GameFi Dapps.
Cronos Labs is the R&D, ecosystem development, and start-up accelerator arm of the Cronos chain.
Caldera is a rollup-as-a-service provider that is revolutionizing blockchain development by facilitating the easy launch of high-performance, customizable blockchain rollups with no code required. Committed to empowering developers, Caldera provides the necessary infrastructure to build a dedicated blockchain for any ecosystem or application.
Just as it makes sense for web applications to run on dedicated servers, web3 applications need their own chain to secure the necessary throughput and features. Caldera rollups offer superior performance, customization, and application-specific optimization. These custom blockchains boast high throughput and low latency, providing an enhanced user experience and rapid transaction processing.
Developers are utilizing Caldera to launch fast, secure blockchains and applications, benefiting from inherited security from underlying settlement layers (e.g. Cronos), without compromising on performance or features.
If you’re a builder, reach out to us and we’d love to talk about why a dedicated blockchain might make sense for you!