Review on Chrono.tech by Jesmin Akter

ChronoBank hopes to develop professionally by following in the footsteps of Uber, which has already achieved success. Because it was founded in 2014, its performance in the cryptocurrency market has been very consistent throughout the years. There are, of course, some variations from time to time in the data. It claims to be supported by a team of experts that have a combined total of 100 years of expertise in the recruiting business at their disposal. Numerous intriguing initiatives are now under development, including the ChronoMint, TIMEx, and its main product, LaborX, among others.



In order to offer an automated solution for employing people and maintaining particular labor contracts, ChronoBank is a decentralized platform with the goal of being able to scale. The project makes use of the Ethereum blockchain to carry out its basic tasks, which results in reduced operating and maintenance expenses for the project. The Blockchain is an immutable record system, which means that any data stored on it will be preserved in perpetuity. As a result, ChronoBank separates data into two types of profiles: public profiles and private profiles, in order to maintain privacy and transparency. It is guaranteed by ChronoBank that any sensitive data will never be kept on the blockchain and that any non-sensitive data will be saved on the InterPlanetary File System.



The project is currently built on the Ethereum blockchain, but it is anticipated to be transferred to other blockchains, such as Waves and NEM, in the near future as well. It will be able to be more adaptable because of the support for various blockchains. Tokens representing a national work hour have a set value in fiat money, and each country-specific token represents a standard value for a national labor hour. The value of an LH token will only rise in value when the country's labor hour costs are raised in the future. Blockchain technology is at the heart of the ChronoBank initiative. This ensures the existence of a decentralized immutable ledger. In addition, for the purpose of openness, the project itself is open-source as well. The implementation of blockchain technology removes the need for any third-party participation, resulting in a simple and quick transaction system that is both easy and rapid to use. On a related point, the user interface and user experience (UI/UX) have been specifically developed to enable one-click purchases.