WTF is Celer Network?
The Celer Network is a project that was launched in the spring of 2018. It is a project that has grown leaps and bounds in recent times because of its strong team, valued principles, and commitment to excellence. Celer is one of those projects that has a lot of backing and is noted for offering something unique in comparison to other projects.
The premise of the Celer Network is to offer layer-2 scaling, which is not available through other blockchain projects.
This is essential for projects that have trouble scaling when it comes to the management of their smart contracts and/or transactional fees.
This is noted for being a lost-cost, secure blockchain solution that can handle significant scale without breaking a sweat. This has to do with how the Celer Network is positioned and how its State Guardians work to keep the network functioning at 100%.
The layer-2 infrastructure works in sync with blockchains, which makes it ideal for dApps and other incentivized models. As more and more funds push through the blockchain, this type of scalability becomes a mandatory need.
This is a network that is all about being ahead of the curve when it comes to being fast and efficient. A considerable amount of research has gone into developing the Celer Network and making sure it hit the ground running.
This is what makes it appealing for those who want a streamlined solution such as CelerX, which is noted for offering layer-2 scaling for mobile apps. This is ideal for developers that are looking for a faster, more streamlined solution when it comes to developing their apps.
The real charm of the Celer Network has to do with its ability to handle different types of blockchains. For example, it could be two different projects such as DFINITY and Ethereum. This scaling solution would work like a charm to sync them.
What makes Celer Network Exciting?
There are many reasons to be excited about what the Celer Network brings to the industry. It is unique, efficient, and allows other projects to push forward due to its integrated technology.
One of the biggest advantages has to do with the multi-blockchain support. This is great for those projects that are thinking about scaling and want to make sure it is done the right way.
It is also a project that is looking to offer support for all off-chain smart contracts in one place. This is good as it is not just about simple payments but about intricate contracts too.
It is committed to offering a network solution that ensures continuous performance gain for those who are using it for state routing.
This network will also be one of the premier off-chain economic models in the crypto industry that provides connectivity, dispute resolution, liquidity, and availability all in one place. This makes it a lot easier to scale through the Celer Network without having to look elsewhere.
When it comes to making sure there is layer-2 application scaling, this is going to be the first project to offer such an opportunity on Android and iOS. This is what makes off-chain scaling unique with the help of CelerX. This means users can easily make their payments using CELR and access the games they are hoping to play in a matter of seconds. This is ideal for those who want to make things as seamless as possible for their gaming projects.
CelerX continues to grow with each passing day and has already hit the million-dollar mark in terms of prizes.
For those who are looking to develop mobile games and/or manage online auctions, the Celer Network is going to be the way of the future. It is going to make transactional confirmations a breeze without overdoing the fees.
The Celer Network Token & Governance Model
One of the most important details to go over would be the token or governance model. This is critical when it comes to a project such as this one and how it all comes together.
In general, the idea behind the Celer Network is to run what is known as a cEconomy. This is the term used for their Crypto Economic model, which is a built-in staking system. The goal is to provide staking rewards to keep the network running through comprehensive security, stability, and liquidity. When the network is running, it is done with the help of this diversified network model.
The token is used as a payment for the service fees and/or transactional fees that come through the network. This is a big part of how the Celer Network works.
Those who are looking to earn rewards in the form of CELR tokens can do so with the help of the State Guardian Network. This is when you become a State Guardian as listed by the Celer Network. The idea behind the State Guardian is to manage the network when it comes to disputes, monitoring, connectivity, and/or general security.
This is key when it comes to managing how the network performs and ensuring it all works out as needed for the rest of the users.
For these State Guardians to do their work, they will receive both a service fee and additional side-chain block rewards.
There are additional incentives in place when it comes to managing the liquidity pool and ensuring it remains stable at all times. This is done through what is known as the Proof of Liquidity Commitment process.
The Celer Network also uses what is known as a Liquidity Backing Auction, which means there is a priority system in place for liquidity backing bids. This causes the payments on the interest to increase over time in theory.
Who is on the Celer Network Team?
The Celer Network team is comprised of some of the brightest minds in the crypto world. These are certified and renowned entrepreneurs that have qualifications from some of the largest institutions including UIUC, UC Berkeley, Princeton, and MIT.
This is a team that is well-versed in the nuances of cryptocurrencies and understands the engineering that goes behind this type of network. As a result, those who are looking at the Celer Network as a part of the future are believing in what the team has to offer.
This is a team that is not only competent when it comes to the management of blockchain tech but also the marketing that goes behind these types of projects to get them to flourish. These are professionals that have worked for some of the best companies on the planet including Oracle, Amazon, and Google to name a few.
Who Funds Celer Network?
This blockchain project is built on the shoulders of high-value partnerships that are all about helping add value to the industry. This includes forming a relationship with TROY, which is noted for offering high-grade solutions when it comes to DeFI applications.
The team is also connected to the Bytom Blockchain and has MoU in place when it comes to building a full-fledged ecosystem for Bytom. This means the goal is to create a strong relationship between the two parties to ensure there is real value being swapped to push both projects to the forefront.
NEO has also come on board as a partner. This is a project that is already appreciated for being among the larger public blockchains available right now. The goal with NEO is to integrate the Celer Network's scaling technology as a way to make their network scale better. This includes implementing the technology to help with different dApps over the long haul.
Mixmarvel has also joined in on the fun and is noted as one of the more intriguing upcoming blockchain projects available right now. The goal of this project is to create fun-filled games and that starts with the Celer Network's scaling solution.
Celer has also taken the time to set up a partnership with SkyDream Technology when it comes to growing a strong mobile mini-game setup. This includes taking the time to implement the power of CelerX as a gaming application solution.
These are just some of the partnerships that have been mentioned by the Celer Network in recent times. It is a blockchain project that continues to grow in strength and remains a valuable addition to the crypto industry as a whole.
How to participate in the Celer Network
Thinking about joining the Celer Network?
For those who want to get their hands on these tokens, you can purchase through most major exchanges, including Coinbase and Binance.
It's best to store CELR tokens in a hot wallet such as a Ledger. This will ensure the tokens are not exposed to hacks when they are kept on Binance or any other exchange.
(1/3) 🎉🚀@layer2finance v0.1 launches on @ethereum mainnet taking on two biggest challenges in DeFi: high cost and complexity of use.— CelerNetwork (@CelerNetwork) April 23, 2021
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