What Is Cryptocean (CRON)?

Cryptocean (CRON) is a decentralized blockchain-based platform that provides users financial and technological services like making payments with cryptocurrency for goods and services, transferring crypto assets and multiple currencies, and exchanging crypto within the real-world economy. The platform also presents an escrow service and plastic cards linked to crypto wallets. Escrow services refer to when two parties get involved in a transaction, and a third party becomes an agent and holds the asset unless both parties fulfill their contract. CRON seeks to solve problems of the current blockchain technology like paying extra to purchase or exchange any cryptocurrency, risk involved in trading crypto assets, and less possibility of consumers accepting crypto payments.

Cryptocean has launched plastic cards that allow users to trade, exchange, and convert crypto into real-world currency. According to the whitepaper, the platform aims to develop an ecosystem that meets the basic needs of people and businesses and offers high-quality financial services relating to the crypto space. Moreover, the platform offers a profitable commission for conducting and processing payments, legal transactions complying with know your customer (KYC), anti-money laundering (AML), high liquidity, and transparent business model.

CRON is the utility token of the Cryptocean platform. The token holders receive discounts when they pay commissions for the platform services like Cryptocean wallet for instant transfers, plastic cards, and trading crypto through credit or debit cards. The platform users can trade tokens on the Cryptocean exchange with profit. Also, CRON holders can use CRON to make payments within the platform. Further, the platform plans to burn 50% of the tokens collected for internal services every month. Here, burn means when a fraction of tokens are sent to a wallet with no private key, which means the tokens get lost forever. Such a situation reduces the availability of tokens and increases the market value.

History of Cryptocean (CRON)

Yury Myshinskiy, the CEO, founded the Cryptocean platform on September 25, 2018. The maximum total supply of the Cryptocean platform is 100,000,000 CRON.