|Mkt.Cap||$ 56.78 M||Volume 24H||122.01 M CELR|
|Market share||0.01%||Total Supply||10 B CELR|
|Proof type||N/A||Open||$ 0.0063|
|Low||$ 0.0055||High||$ 0.0063|
Everything You Need to Know About Celer Network (Updating Regularly)
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is used to route generalized states (e.g., conditional payments) in a trustless and efficient way between end users via state routing algorithms. Celer report a x15 improvement in performance on the shortest path algorithms used by offchain scaling solutions Lightening Network and Raiden. With no monetary incentive for people to stay on the testnet, CelerX has reached 3，300 Monthly Active User (MAU). The highest Daily Active User (DAU) recorded is 396. In total, there are 28，924 Gomoku games played monthly with 9 games played per user, on average.
I recently spoke with Mo Dong surrounding this event, blockchain gaming and some more exciting news for Celer Network. One of the most successful Binance IEOs, Celer Network aims to offer a scalable blockchain environment.
What are Layer-2 scaling platforms?
Celer Network's State Guardian Network is the only solution to above issues. Celer Token is not actively traded as of publish date of this report - the token will be available through the Binance Launchpad portal. CELR is used in State Guardian Network as a membership staking token to protect state availability, provide connectivity oracle and act as a dispute state transition computation engine. CELR token stakers receives service fee for the various services they provided for the network.
The project is led by – Dr. Mo Dong, Dr. Junda Liu, Dr. Xiaozhou Li, and Dr. Qingkai Liang, who have all received Ph.Ds from some of the most prestigious universities in the world. Celer Network resolves the scalability problem of cryptocurrencies by utilizing clever layer-2 tactics, which don’t compromise on overall system security. To support use cases beyond simple P2P payments, Celer uses a system of off-chain applications as a DAG of conditionally dependent states.
Because transactions are processed off-chain by only those involved, the network’s throughput can increase almost linearly even as more nodes and applications are added to the network. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. Having a strong community is one of the fundamental building blocks of any strong blockchain project.
It is important that the project demonstrates early on that it is able to generate and build a strong and empowered support base. The Crypto Briefing Top 5 stamp is awarded to ICO projects that we rate in the top 5% of all projects. We have rated hundreds of projects to unearth ICOs in which members of our team intend to invest. video of their first cApp built on the Celer Network called cGomoku.
CELR Token Ecosystem
The Celer ICO targets both performance and flexibility through innovations in off-chain scaling techniques and token economics designed to maximize the network-effect. Celer wants to stimulate the value exchange among the parties on its network by pairing high performance with an Internet-like functionality. The Celer team promises 20,000X reduction on transaction latency, which is supposed to finally deliver on the blockchain’s promise of providing a viable alternative to the dominant global payment platforms.
The CELR token is the sole means of transacting value on the Celer Network. The Celer Network utilizes a Proof of Liquidity Commitment (PoLC) mechanism, which works like a staking protocol, to create sufficient liquidity for state channel service providers to function.
Yet as we know, the road to onboarding developers, contributors and users is not as straightforward as producing even the most technically viable solution for offchain scaling. Finally, on any off-chain state channel, availability monitoring provides an essential insurance function in case users go offline.
- Tokens deposited with the help of the Celer Pay are not controlled by Celer, which means that users should retain complete control over their funds in any given situation.
- In the game, you are supposed to nurture and breed virtual cats.
- Also, CelerX debuted on App Store as the world’s FIRST blockchain eSports iOS app at the end of October.
- As an analogy, the team compare cOS to the in app building system on WeChat, which enables APIs for developers to build mini-apps inside the platform.
As of now, the project is running the testnet so there is no fee involved. However, when Celer switches to mainnet, the transaction fee on Celer is going to be completely free for most of the blockchain transactions (off-chain smart contract). On the Centauri testnet, Celer has processed ~1.1 million off-chain transactions.
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The total supply of the token itself is capped at 10 billion units, with 2.7 of them being in circulation as of June 2019. At the same time, the coin’s market cap stood at USD 48 million. The token is available for trade on Binance and other cryptocurrency exchanges. All of the above interactions serve to illustrate the role of the CELR token which plays the main role in keeping the Celer’s liquidity pool stable and acting as a means of payment for the service and transaction fees.
Celer formed a strategic partnership with GXChain to deploy off-chain solutions and accelerate the hundreds of dApps’ transactions on its platform. Atlas Protocol (ATP) is an application layer protocol of tokenized marketing, aiming to define a new on-chain interactive ads paradigm. Celer is partnering with Atlas Protocol to break the technical barriers of on-chain interactive advertising by using off-chain scaling techniques.
The Rise and Rise of Bitcoin Adoption
Our consumer-facing product, CelerX is the FIRST AND ONLY layer-2 application platform on iOS and Android. Backed by the most advanced off-chain scaling platform, CelerX users can transfer instant and zero-fees payment through Celer Pay, and play diverse skill-based games. Since July the 8th mainnet launch, CelerX has reached $1.4M+ total prizes awarded, 11K players and 300K matches from 88 countries.
Crypto Miners in Georgia consume 10% of the Entire Nation’s Power
For Celer to take a lead role as a scaling solution, serious attention must be paid toward building an ecosystem of users. While the team members are highly-qualified tech experts and even have experience with startups, marketing Celer to the wider community will require additional expertise and resources. A more balanced team with personnel specifically dedicated to building partnerships and spreading awareness would further strengthen the project as it progresses. Off-chain scaling solutions are in no short supply, but their market caps illustrate that some have fallen out of favor with the investing community to a degree. Lightning Network, Raiden and Trinity all take aim at providing off-chain payment scaling.
Celer Social Channels
Unfortunately, the off-chain channels are stateful models since constant transactions are happening within it, changing individual capacity (or balances). Secondly, no per-party fund lock-up is required. When side-chain based channels are used for multi-party payment, each party (except for the block proposer) doesn’t need to lock their deposit in advance before they pay each other.
Users who lock up CELR tokens for some time are later rewarded with more CELR tokens. Celer Network is developing an off chain scaling solution to scale the various blockchains that will run on its platform.
Celer has spent the majority of their efforts thus far in cultivating a strong developer community. To lower the barriers to entry for developers, the Celer team released a full-stack 12-lesson course to teach Ethereum Solidity dApp development. Registering over 2,000 students, the team also leveraged access to the students of this course to begin growing its awareness within the developer community. Celer Network released cWallet, a user-facing alpha on Android and iOS platforms in October 2018.