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What Is Celer Network (CELR)?
As exciting as blockchain is, it can leave much to be desired with transaction speeds and throughput. The Celer Network (CELR) is a smartly designed layer-2 scaling solution that provides off-chain transactions handling. The Celer platform offers fast, simple, and secure off-chain transactions for both payments and smart contracts. The project was among the first to be developed using the Substrate framework and is part of the Polkadot ecosystem. As to the overall goal of the network, its founders envisioned unleashing the full potential of blockchain and revolutionizing Dapps with more efficient and productive outputs.
To learn more about this project, check out our deep dive of Celer Network.
The Celer Network Architecture
The Celer Network architecture (cStack) is built on four elements:
1) cOS: The core of the network that provides the workflow.
2) cRoute: A mechanism that allows an increased operations capacity by streamlining routes within the network.
3) cChannel: Channels for transmitting transactions within the network.
4) cApps: An ecosystem application layer used for scaling and user privacy.
The platform uses a Proof-of-Stake (PoS) consensus variation called Delegated Proof of Stake (DPoS). With this algorithm, participants may stake their coins for a reward while transferring the responsibility of validating transactions to “delegates.”
CELR holders will provide tokens for liquidity and will receive a reward for doing so. The key point of Celer is that the platform allows layer-2 scaling for any blockchain. Thus, the project covers a wide spectrum of the market, multiplies the liquidity potential, and increases the product’s reliability, coverage, and adaptation.
What Makes Celer Network (CELR) Unique?
Celer is a networked system and not a separate blockchain. The platform instead runs on top of existing and future blockchains. The developers focused on scalability in order to improve the throughput of crypto blockchains. The founders are confident that in-house solutions will not bring results to future decentralized blockchains (globally). Instead, they propose to solve the problem with their off-chain platform.
The four levels of the cStack architecture are evenly partitioned to provide several unique benefits. The advantages include: reduced transaction delays; decreased commission for micropayments; zero commission in working off-chain smart contracts; horizontal scaling in joining new nodes; availability of an off-chain model of cryptoeconomics; an optimal routing algorithm for transactions; and support for various blockchains.
The cEconomy is a unique cryptoeconomic model that is responsible for maintaining stable liquidity and availability for the ecosystem while creating a network effect. The mining algorithm doesn’t require the use of Proof-of-Work (PoW). Users only need to install the software and keep CELR in their accounts to receive income as a reward for providing liquidity.
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Vídeo
Me chamo Felipe Trader e moro aqui em São Paulo. Comecei no forex a 6 anos atrás e hoje vivo somente do meu trading diário. Aqui no blog conto pra você as ferramentas e serviços que uso pra ser lucrativo.
Celer to Mars 🤝
Thanks for Celer
again man.. thanks so much for shouting me out!!
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5x incoming!
Celer is epic
Thank you eq