What Is Chrono.tech (TIME)?
TIME is the native token of Chrono.tech, which is an Australian platform that provides users with blockchain-based HR software solutions. It's used for human resource management, including finding and hiring new employees, completing payment procedures, and so on. Chrono.tech crypto project lowers traditional employment obstacles and facilitates safe money transfers in the global labor market.
Check out the Chrono.tech price chart above to see the live TIME price.
Note that, apart from the TIME token, the Chrono.tech platform also released a stablecoin pegged to the Australian dollar at a 1:1 ratio. The stablecoin is called AUDT. It’s one of the main fiat currencies traded on the TimeX exchange. AUDT enables traders to transfer funds from an Australian bank account into (and out of) the Chrono.tech ecosystem.
Chrono.tech Ecosystem
To provide users with an extensive HR management ecosystem, Chrono.tech consists of LaborX, TimeX, and PaymentX platforms.
LaborX is a blockchain-based freelance work platform. It is similar to other freelance platforms, with the exception that the agreements between clients and freelancers are based on smart contracts, and payments are made using crypto assets. The payments are transferred automatically after the completion of each job.
TimeX is a hybrid crypto exchange based on the Plasma chain. It combines features of both – centralized and decentralized exchanges. Since TimeX is built on Plasma, the exchange provides users with fast and secure trading processes. Besides, TimeX is a licensed crypto exchange that complies with the standards set by AUSTRAC.
PaymentX is a crypto payroll system that supports multiple cryptocurrencies. It makes it possible for businesses to pay their employees in one click. Also, it enables users to swiftly and inexpensively deal with invoices raised in fiat currencies but settled in cryptocurrencies. Besides, PaymentX offers various useful functions, such as making automatic payments, seeing payment history, and so on.
The Purpose of TIME Tokens
TIME tokens are the driving force of the whole Chrono.tech crypto project. They are used across all platforms offered by Chrono.tech. Don’t forget to take a look at the current TIME price, which is featured on the Chrono.tech price chart.
Initially, Chrono.tech coins were developed based on the ERC-20 token standard. However, in November 2020, they were migrated to the ERC-667 token standard. The latter is fully compatible with ERC-20 but allows the integration of TIME tokens into other DeFi protocols, and offers lower transaction fees.
TIME holders can stake their tokens on TimeWrap. It is a yield farming dApp that enables users to profit passively from the revenue generated across the whole Chrono.tech ecosystem.
Besides, note that TIME tokens can be moved across different blockchains using a cross-chain token bridge called the TimeBridge.
