By HM - MN.Investments content producer, Midas.Investments
Midas announces the listing of Cronos (CRSX) to the Midas platform as an Instant Share. Invest today to receive instant rewards.
What is Cronos and what does it offer?
2018 was certainly the year we witnessed an exponential growth of masternode coins despite the ongoing bear market. There are new projects introduced almost everyday on Bitcointalk or other popular cryptocurrency-focused websites. This review article from Trevor can help you learn more about the masternode investing business, but basically, you need to lock up a certain amount of coins and run your own server to verify transactions to earn rewards. The project I’m introducing to you today is a little unusual in which it deals with things happening before the birth of a masternode coin.
Keep in mind that any cryptocurrency or masternode project you encounter is technically a software engineering startup. Some projects may not have enough budget for operation or sometimes do not have a prototype. The initial coin offering (ICO) or any presale is one method for them to raise funds from the public - essentially “blockchain” way of saying they have no money. Occasionally, you may even observe projects which is just an idea on paper with no developers on the team (be really concerned and do your due diligence here). As a result, you are often asked to put in a lot of trust for a team when you buy shares or an entire masternode in the presale period.
Cronos is a project addressing the presale stage specifically for both developers and investors. Firstly, it provides a set of software development tools, called toolchain to help entrepreneurs or anyone with a breakthrough idea to initiate their own presale of a masternode project. These tools are based on Ethereum smart contract platform and Angular 7 - two other software projects popular among developers. The goal is to make it really simple for coin developers to raise money in this process. Secondly, with the help of smart contracts, investors can buy in with confidence in the full context of trustless and decentralized nature of blockchain - at least in the sense that you should receive an equivalent of their coins when sending away BTC or ETH.
Cronos coins will be used as payments for all services involved in the Cronos platform. Wallets are available for Windows, macOS and Linux operating systems. The open-source software tool is under testing and planned to be released this year. In fact, Cronos project's own presale is the first one utilizing their platform.
Team is anonymous. On a Bitcointalk post, one team member announced that they have experience in blockchain development and helped several projects already.
Where can I purchase Cronos (CRSX)?
Total supply: 50,500,000 + Community Blocks
Premine: 500,000 (about 1%)
Presale: 1 BTC or 25 ETH per node (finished)
Exchange: available on the Midas platform as Instant Shares
Consensus algorithm: MN/proof-of-stake (forked from PIVX)
Masternode collateral: 15,000
Block time: 2 minutes
Block reward: variable rewards depending on each block height, 80/20 MN/PoS split and 10% reduction after each 20,000 blocks
Can I get more information about Cronos (CRSX)?
Whitepaper: link to pdf
Block explorer: https://explorer.cronoscoin.online/
Do you want to become a Midas partner?
Midas is looking for great projects to join us on our journey. Get in contact with the team via Discord for more details, and visit midas.investments for information on our project, team and road map.