ChronosCoin was invented to be used in the so-called Penny Auctions. Started in the summer of 2016, it was meant to give a boost of promotion to the platform for auctions pushed to existence by the very same developers. The biggest flaw of the cryptocurrency in its initial phase was that the payment using CRX wasn't an option on the PennyAuctions platform – participants had to pay with USD or some of the other cryptocurrencies. The total supply of the coin is 68 million CRX compared to many other brands on the crypto market. CRX was initially developed as a hybrid before turning entirely on PoS.

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