The entire team members at Cronos happen to be extremely pleased to share the information regarding them having finished the last bit of upgradation on their very latest Cronos Mainnet, Galileo (version 1.0). Having the v1.0 version figure, it happens to become a verifiable aspect which spells out the fact that the Cronos blockchain network is now fully out of the confines of beta. In the process, it has been able to process over the figure of 65 million transactions, in the case scenario of over 1 million users, without downtime.
Where the overall upgrades on the Cronos v1.0 are concerned, there has been the prioritization of Mempool to be able to scale TPS a long way in terms of transactions per second. The node storage has been taken to its maximum limit, having 30% less storage in the case of full nodes. Upgrades on the functionalities of Node have been carried out, like in the case of GRPC queries concurrent responses and which has seen a general lessening of node start-up time by 50%. In the present scenario, the new Cosmos functions will lay the path for much better EVM/Cosmos interoperability, which includes IBC incentivization and the IBC token transfer memo field.
In the present moment in time, however, it will be the Cronos protocol engineering team that will remain actively engaged in the deliverance of Phase 1 maximizations related to the protocol and also the database. Simultaneously they will also be carrying out investments where the R&D work streams are concerned and which are essential for Phase 2, in terms of Cronos Rollups and Cronos Next level.
Over and above all of these activities, it will be the Cronos Lab team that will be closely looking into the growth of the DeFi, NFT, and along with that, the Web3 Gaming application ecosystem. This will be done with the upgradation of the Cronos Ecosystem Grants program, along with the Cronos Accelerator.