Cronos is currently undergoing a chain update. This process involves making changes to the underlying blockchain technology that powers the cryptocurrency.
Refer to the official tweet by CRO:
CRO Info
Cronos is an open source decentralized blockchain developed by Crypto.com, a payment, trading and financial services company.
It aims to massively scale the Web3 user community by providing builders with the ability to instantly port apps and crypto assets from other chains with low cost, high throughput, and fast finality. Cronos utilizes Ethereum Virtual Machine (EVM) technology, which allows it to be compatible with existing decentralized applications (dApps) built on Ethereum.
CRO is a native platform token that can be used to conduct transactions and interact with decentralized applications (dApps).