Celer Network CELR

1. Summary

Ranks

Liquidity

96

Developer

-

Social

97

Momentum (beta)

65

Stack Rank™

40

Price

$0.03 +6.9%

Market Cap

$150.82M (#341)

Supply

5.65B / 10.00B

Tags

Polkadot Ecosystem Arbitrum Ecosystem Ethereum Ecosystem Aptos Ecosystem Binance Launchpad Bridge Governance Tokens

More Metrics

Price
52W High price	$0.03
52W High date	17th Apr 2023 (1 year ago)
All Time High (ATH) Date	26th Sep 2021 (2 years ago)
ATH Price	$0.19
% From ATH	-90.22%
All Time Low (ATL) Date	13th Mar 2020 (4 years ago)
ATL Price	$0.000955750000
% From ATL	1893.44%

Supply & Trading Volume
Trading Volume (24h)	$11.86M
Total Supply	10.00B
Max Supply	10.00B
Circulating Supply	5.65B

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Description

Celer Network is a layer-2 scaling platform intended to enable fast, quick, and secure off-chain transactions. This is specific towards payments and generalized off-chain smart contracts.

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Celer Network is a layer-2 scaling platform intended to enable fast, quick, and secure off-chain transactions. This is specific towards payments and generalized off-chain smart contracts.

The main reason why it was developed was to enable mass adoption of blockchain technology by providing a frictionless experience.

Celer Network allows anyone to build and use highly-scalable decentralized applications through innovations in off-chain scaling methods and incentivized crypto-economic mechanism designs.

Celer network is used to execute smart contract off-chain, however, it also supports functions related to payments. There are several key components on the system, including CelerPay, CelerApps and CelerNodes.

CelerPay is used as a payment channel that adds support for off-chain payments on on-chain verifiable stores through the usage of on-chain smart contracts alongside an off-chain communication protocol. Then there’s CelerApps, which is a channel which is a virtual contract for off-chain use by developers. Additionally, there’s CelerNodes which join state channel networks and enable off-chain payments to nodes.

The CELR Token Explained

Celer implements a crypto-economic model, a staking system that provides a high level of security and stable liquidity.

The CELR token can be used to pay the service fees as well as the transaction fees. Any user can stake CELR in the State Guardian Network with the intention of becoming a State Guardian.

These State Guardians can receive service fees and side-chain block rewards throughout performing specific services, such as state monitoring or dispute response.

Additionally, CELR also serves as an incentive for the maintenance of a stable liquidity pool in the Proof of Liquidity Commitment process.

Features of Celer Network

Off-chain scaling solutions are also known as layer-2 solutions, and they have advantages due to the fact that they allow the network to process smaller transactions off the blockchain. They are then bundled into a single transaction, which can get recognized on-chain. Through this process, they can essentially reduce the transaction slowdown when it occurs on the main chain while increasing any operational capacity within the system.

To achieve this, the Celer Network architecture is named Cstack and has multiple layers that make it work.

There's the cRoute, which uses DBR or distributed balance routing with the intention of distributing payment traffic within a decentralized and trust-free manner. This allows it to achieve x15 greater throughput than the Lightning Network, for example. Then there's cOS which is the off-chain decentralized application (dApp) development network that handles operations, storage, off-chain disputes, and tracking. Additionally, there's the cChannel, which is a side-chain suite that provides liquidity and is responsible for assisting rapid state transactions. This is essentially what allows gaming applications, exchanges, and other high-throughput applications to function within the Celer Network.

Then there's CelerX, a layer-2 application platform on iOS and Android, backed by an advanced off-chain scaling platform. Users are given the opportunity to transfer instant and zero-fees payments through Celer Pay and play diverse skill-based games.

Founders of Celer Network (CELR)

The team behind the Celer Network is formed by highly experienced founders that have received PhDs from UC Berkeley, Princeton University, and MIT.

There are a total of four co-founders, including Mo Dong, Junda Liu, Xiaozhou Li, and Qingkai Liang.

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