How does Cronos work?

Could you please explain how Cronos operates? I'm quite curious about its underlying mechanisms and functionalities. As a professional in the field of cryptocurrency and finance, I'm sure you have a deep understanding of this topic. Could you elaborate on how Cronos functions, its role in the blockchain ecosystem, and any unique features it might possess? I'm particularly interested in its interoperability capabilities and how it facilitates cross-chain transactions. Thank you for your time and expertise in addressing my questions.