An exciting new project that aims to help blockchains achieve ‘internet level scalability’.
What Is Celer Network (CELR)?
Celer Network is an ambitious project that helps blockchain technology achieve widespread use through off-chain scaling approaches. Their blockchain protocol was created to provide a one-click user experience towards accessing the DeFi, GameFi, NFTS, governance and tokens.
Their whole approach is to fundamentally change how dApps are being built and used. Developers can now build the inter-chain-native dApps with coherent application logic and proficient liquidity utilization. Also users will be able to benefit from the efficient single-transaction UX, without all the manual interaction hassles seen in other blockchains.
CELR is their native token, an ERC20 token built on the Ethereum Blockchain.
How Does Celer Network Work?
Celer Network has implemented smart contracts that are paired with State Guardian Network, a Tendermint blockchain. In order to message or invoke the smart contract cross-chain function, the user or dApp will initiate a message towards a Message Bus smart contract located in the source chain. A validator, in this case the State Guardian Network, will reach a consensus on the message and provide a multi-signature attestation. This attestation will be passed on to the destination via an Executor.
With this method, participants may stake their coins while transferring the responsibility of monitoring the transaction itself to “delegates”. The CELR staking process is an important aspect that supports the economic security of the Celer Inter-chain Messaging Framework.
The History Of Celer Network
Celer Network was founded in 2018 by a group of engineers with expertise in extremely technical and specialized fields. All four founders of Celer are PhD graduates in Computer Science from universities like MIT and UC Berkley that currently work with lots of high-profile tech businesses.
Prior to launching, the company had already raised $30 million during the seed and private sales.
Is Celer Network (CELR) A Good Investment?
Celer has managed to form partnerships with some of the top crypto-businesses including Pantera, DHVC, FBG Capital, Fenbushi Capital, 500 Startups, NGC, Waves, and many more.
If they manage to continue with their vision, and solve all the problems stated in their whitepaper then it could have a substantial impact on its long term value.
As you can see on the graph below, the highest that CELR has ever reached is $0.18 back in September 2021, and then a few months later it dropped and is now sitting below $0.05. CELR is still at its infancy but it is definitely a project you want to keep an eye on, as it could reach another all-time high in the future.
To stay up to date with the current CELR price data, click here.
Should You Buy Celer Network (CELR)?
If you have done research on the team, vision, whitepaper and you are satisfied with what Celer Network has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
How Many CELR Coins Are There in Circulation?
Celer has a total supply of 10 billion CELR coins.
Where Can You Buy CELR Coins?
If you would like to purchase some CELR coins, below are a handful of cryptocurrency exchanges which list them.
- AscendEX (Bitmax)
- Uniswap V2