Cronos EVM completes Pallene upgrade

On December 12th, Cronos, the EVM-compatible blockchain, has completed its v1.4.0 Pallene upgrade, making transaction execution up to 600 times faster. The upgrade enables parallel transaction processing within a single block by introducing Block-STM technology, allowing virtual machines to process up to 60,000 transactions per second (TPS). Pallene also introduced optimistic execution with Cosmos SDK 0.50 to optimize block processing and network responsiveness, and upgraded the Interchain Communication Protocol (IBC) to enhance cross-chain connectivity.