What is Celer Network (CELR)? How to Buy And Use It

What is Celer Network (CELR)? How to Buy And Use It

Celer Network (CELR) is a blockchain platform that aims to provide fast, scalable, and secure off-chain transactions for decentralized applications (dApps). CELR is an ERC-20 standard token built upon the Ethereum blockchain.

Celer Network aims to solve the scalability issues faced by blockchain technology by providing a layer-two scaling solution. The platform is built on top of existing blockchains and provides a layer of off-chain transactions that can be settled on the main chain when needed. This off-chain approach allows for fast, low-cost transactions, especially microtransactions and high-frequency trading.

CELR tokens are the native token of the Celer Network and are used to pay for transaction fees and incentivize network participants. The Celer Network also includes a number of tools and services, including the CelerX gaming platform, which allows developers to build and deploy games on the blockchain.

CELR Features and Updates

Here are some features and updates of Celer Network (CELR):

Layer-2 Scaling: Celer Network provides a layer-two scaling solution that enables fast, low-cost, and secure off-chain transactions. It uses state channel technology to allow for high-speed and low-cost transactions that can be settled on the main chain when needed.

Celer Inter-chain Messaging (IM) Framework: Using the Celer Inter-chain Messaging SDK, developers can create dApps that can communicate with other chains through the Celer Inter-chain Messaging Protocol (ICP). The ICP enables cross-chain interactions between different blockchain networks, allowing for the seamless transfer of assets and data across multiple chains.

Celer cBridge: Celer cBridge is a decentralized and non-custodial asset bridge that enables the transfer of assets between different blockchain networks and layer-2 rollups. It supports over 130 different tokens across 30+ different blockchains and layer-2 rollups, making it easier for users to transfer their assets between different networks without relying on centralized exchanges or custodial solutions.

What Makes Celer Network (CELR) Unique?

Celer represents a significant shift in how decentralized applications (dApps) are built and used across multiple blockchain networks. Instead of deploying separate copies of smart contracts on each blockchain, developers can now create dApps that can interact seamlessly with different blockchain networks. This allows for efficient utilization of liquidity, coherent application logic, and shared states between different blockchains.

How Many CELR Are There In Circulation?

CELR tokens have a total supply limit of 10 billion, which is divided among various categories. 25% of the tokens are dedicated to PoLC (Proof-of-Liquidity-Commitment) mining rewards and off-chain ecosystem development, 20% of the tokens go to the team and advisors (18.3% for the team and 1.7% for advisors), and 17% of the tokens are allocated for the Foundation. 

Additionally, 5% of the tokens are allocated for marketing and ecosystem development, while 33% of the tokens are assigned for sale.

However, the current CELR supply in circulation is 7,085,488,367 CELR tokens.

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Who Are The Founders of Celer Network (CELR)?

Celer Network was established in 2018 by a team of 4 highly skilled engineers with specialized and extensive technical experience. The co-founders of Celer, who all hold Ph.D. degrees in Computer Science from prestigious universities such as MIT and UC Berkeley, have previously worked for top-tier tech companies.

Dr. Mo Dong, one of the co-founders of Celer Network, received his Ph.D. from the University of Illinois at Urbana-Champaign. He was a founding engineer and product manager at Veriflow, where he worked on network formal verification. Dr. Dong is an expert in applying algorithmic game theory to protocol design and has taught full-stack smart contract courses with hundreds of graduated students.

Dr. Junda Liu, another co-founder of Celer Network, received his Ph.D. from UC Berkeley. He joined Google in 2011 to build its data center networking infrastructure and was also a founding Project Fi mobile service member since 2014. Additionally, he served as the Android Tech Lead for carrier services, which run on over 1.5 billion devices.

Dr. Xiaozhou Li, a co-founder of Celer Network, received his Ph.D. from Princeton University. He has published his works in premier venues in distributed systems, networking, storage, and data management, and his research has become a core component of Google TensorFlow, Intel DPDK, and Barefoot Deep Insight.

Dr. Qingkai Liang, the final co-founder of Celer Network, received his Ph.D. from MIT. His research focuses on various learning and control problems in networked systems, particularly online learning algorithms in adversarial networks, which have been successfully applied in companies such as Raytheon BBN Technologies and Bell Labs.

How Is The Celer Network Secured?

The State Guardian Network is a crucial part of Celer’s infrastructure, acting as a decentralized Proof-of-Stake blockchain that enables message routing between different blockchains. This allows for efficient cross-chain fund transfers and general message passing while providing PoS security, fast finality, and low cost for Celer-enabled dApps. 

Additionally, Celer has undergone three independent smart contract audits by reputable firms such as CertiK, PeckShield, and SlowMist to ensure security and reliability. Celer has also set up a bug bounty program on Immunefi with a standing reward of $2 million as an incentive for community and whitehat efforts further to enhance the security and performance of the network.

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Where Can You Buy Celer Network Tokens (CELR)?

Users wishing to buy CELR can do that on exchanges like Binance, Kucoin, Gate.io, OKex, Crypto.com, WaziriX, and others. 


Is CELR a good investment?

According to an expert review, CELR can be considered as one of the best crypto projects to invest in. However, CELR is expected to supersede its ATH in the next bull run.

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