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Crypto is also in the midst of a marketing blitz that may be unprecedented in the crypto industry. The company, which is based in Hong Kong, bought naming rights to the Los Angeles arena formerly known as the Staples Center, home to the NBA’s Lakers and other pro sports teams, in a $700 million deal that went into effect on Christmas Day and will last for 20 years. That news, announced in Nov. 17, helped propel CRO to its peak on Nov. 24. The Crypto Coin is the native token of the Crypto and Crypto.Org trading platforms. Moving from an exchange coin to the native token of a blockchain is something you rarely see in the market. But that was the case with Cronos and the CRO cryptocurrency. Despite having a large market cap, not many are aware of the utility of the token, and the offers of the Cronos Chain.
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Crypto staking is similar to depositing money in a bank, in that an investor locks up their assets, and in exchange, earns rewards, or “interest.” “Staking is a term used to refer to the delegating of a certain number of tokens to the governance model of the blockchain and thus locking them out of circulation for a specified length of time,” says Nicole DeCicco, the owner and founder of CryptoConsultz, a cryptocurrency consultancy in the Portland, Oregon area.  is one way of incentivizing users to help maintain an accurate historical record of who owns what on a blockchain network. Bitcoin uses proof of work, which makes this method an important part of the crypto conversation. Blockchains rely on users to collate and submit blocks of recent transactions for inclusion in the ledger, and Bitcoin’s protocol rewards them for doing so successfully. This process is known as mining.