Crypto.com Chain Prepares for Mainnet Launch with Final Dry Run

17 Dec, 2020

By Achal Arya

Administrator

Achal Arya is a digital product designer and an entrepreneur. He did his masters degree in design from IIT Hyderabad and has a bachelors degree in Computer Science. He works in the Web3 domain and manages new developments at CoinGape. Follow him on X at @arya_achal or reach him at achal[at]coingape.com.

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Mainnet stress test event, Crossfire, includes USD 300,000 validator incentives.

Hong Kong, Dec. 17, 2020 – Crypto.com today announced Crossfire, the Crypto.com Mainnet dry run, aimed at stress testing the network in a practical, real-world setting before public release. Crossfire marks an important milestone and final step in preparation for mainnet. Participating Validators have the opportunity to compete with each other while completing tasks. Winning Validators will share a prize pool of USD 300,000 in CRO rewards.

In the last year, the Crypto.com Chain has received massive support from its community and industry partners. Croeseid, the latest testnet, features a new codebase based on the Cosmos SDK and has achieved great success with 50+ validators deployed and over 800,000 transactions processed.

Kris Marszalek, CEO of Crypto.com, said:

“With the Mainnet production dry run, we are entering the final stretch on the road to go-live. The Crossfire competition for validators with $300,000 in rewards is a critical part of stress testing the network before the much anticipated launch.’

The Cosmos SDK, upon which the Crypto.com Chain is built, promotes scalability, usability and coin interoperability. Cosmos’ inter-blockchain communication (IBC) module allows cross-chain asset transfers and communications that provide strong support for DeFi use cases, a core element of Crypto.com’s product roadmap. Crypto.com Chain mainnet continues to adopt Tendermint Core as its consensus engine, one of the most mature Byzantine-fault tolerant (BFT) consensus engines for building proof-of-stake systems, and its codebase is released on Github here written in the Go programming language.

Crossfire Validator Competition

Those interested in becoming a validator can begin registering at 13:00 UTC, 17 December 2020, with the competition period running from 04:00 UTC, 18 January 2021 through 03:59 UTC, 15 February 2021.

Crossfire Validator Tasks: (Note: No minimum CRO staking requirement)

Entry tasks – Setting up validator nodes and keeping them online
Complete tasks for additional rewards:
- Submitting transactions to the network for a chance to win the jackpot
- Proposal voting participation
- Perform node client update
- Observe and report valid network attacks via Crypto.com Chain GitHub
- Compete with other validators to become one of the top 10 Most Valuable Participants (MVPs)

Crossfire Validator Rewards:

Compete with other validators to become one of the top 10 Most Valuable Participants. Each eligible participant may receive CRO rewards upon completion of tasks:

Entry tasks – Up to USD 1,000 each (200 winners)
Network upgrade – Up to USD 150 each (200 winners)
Jackpot – Up to USD 10,000
MVP Prize – USD 13,000 shared among the top 10 validators
Network attack sharing, bug and bounty program – Up to USD 50,000 shared by contributors
Referrals – We encourage participants to refer their friends to join the Crossfire dry run as well. Eligible referrers and referees will receive a reward of 50 USD worth of CRO each. Read more about the referral program here.
Additional details on the prize pool and rewards breakdown can be found here.

Sign up to become a validator here. For more information on setting up a validator or a full node on Crypto.com Chain, click here.

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Visa Card, the Crypto.com Exchange and Crypto.com DeFi Wallet.

Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks. Crypto.com is headquartered in Hong Kong with a 700+ strong team.

Find out more by visiting https://crypto.com.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.