Cronos has finally announced that V1.0 Galileo is ready for the upgrade. The countdown has been going on for some time, and the community has something to smile about now. Cronos took to Twitter to share the development while also reminding the community about the features that it will bring along with it.
The upgrade is tentatively scheduled for January 18, 2023, at 00:30 UTC. It will include features like Mempool Prioritization, Optimized Nodes, and Greater Interoperability.
To start, Mempool Prioritization commits to offering something that has been in the pipeline with a lot of excitement surrounding the idea. Cronos will, through Mempool Prioritization, offer a higher TPS by sorting the transactions according to EIP1559. Users will benefit from faster TPS thanks to Mempool Prioritization.
The next in line is what node operators have been looking forward to. Cronos has shared that V1.0 Galileo will have full nodes requiring 30% less storage to offer a reduced node start-up time, registering a reduction of approximately 50%. This will be coupled with other improvements related to performance.
Two more features are in the store following the successful upgrade. This includes:
- IBC Token Transfer Memo Field
- IBC Incentivization
The release of the upgrade will facilitate increased EVM or Cosmos IBC compatibility.
Crypto.com has supported the upgrade by temporarily suspending withdrawals and deposits on its network. The trading facility will run unaffected at Crypto.com. The platform will resume the deposit and withdrawal facilities once the upgrade has been successfully concluded and implemented.
Cronos V1.0 Galileo is tentatively scheduled to go live on January 18, 2023, at 00:30 UTC with the support of the Crypto.com Exchange and App.
Founded in 2016, Crypto.com has become one of the leading choices for payment and crypto-related services. It is headquartered in Hong Kong under the control of Kris Marszalek. Crypto.com has over 90 cryptocurrencies listed on its platform. The availability, however, may differ by region. It offers a native token to the users for the internal economy while extending support to more than 20 fiat currencies and 100+ trading pairs. Earlier known as Monaco, Crypto.com operates across the world to offer services and products like, but not limited to, MCO Visa, Crypto.com Wallet, and Crypto.com Token.
It serves as a one-stop shop for users looking to buy and sell digital currencies. The trading fee charged is one of the lowest in the industry, provided traders spend at least a month on the platform. Users can buy a cryptocurrency on the platform and earn an interest rate of up to 14%, depending on the market conditions.
Cronos V1.0 Galileo upgrade goes live today. Keep a lookout for when Crypto.com resumes deposits and withdrawals for Cronos on the platform.