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CELR
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Celer Network
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What is Celer Network (CELR)?

Celer Network (CELR) is an internet-scalable, trust-free, and privacy-preserving platform where everyone can quickly build and use highly scalable, decentralized applications. 

The platform consists of a group of layer 2 scaling mechanisms running on top of existing and future blockchains. Celer delivers unprecedented performance and flexibility through innovations in off-network scaling techniques and an incentive-driven crypto economy.

The Celer Network includes a consistent and loosely coupled architecture with pure abstractions that allow for the rapid evolution of each individual component, including a common state channel and a set of side chains, and a highly efficient payment routing protocol in the state channel, providing an order of magnitude higher throughput compared to modern solutions:

  • a hybrid, unifying side chain that offers user-configurable trade-offs between trust, performance, and features;
  • powerful development and runtime environment for offline applications;
  • new crypto-economic models that provide reliable security, high availability, stable liquidity and network effect for the OTC ecosystem.

The project currently covers the core architecture of the Celer public channel network, the public guardian network, and the provision of liquidity. It will later be expanded to include a hybrid side chain of Celer accumulation.

Who created the Celer Network?

Celer was founded by seasoned entrepreneurs with doctorates from MIT, Princeton, UC Berkeley, and UIUC, and has a fast-growing, star-studded team with years of experience developing, creating products, growing users, and marketing from tech giants like Google, Amazon, Cisco, Oracle, HP, and others.

What is unique about Celer Network?

Celer's liquidity support is part of the Celer crypto economy, also known as cEcnonomy. Its goal is to solve the liquidity problem of the public channel network by creating an easily accessible liquidity crowdland market for off-grid service providers (OSPs) to borrow funds to support their operations. 

The two main liquidity support mechanisms are the confirmation of the liquidity commitment (PoLC) and the liquidity support auction (LiBA), which are implemented in two separate smart contracts associated with external function calls. The two types of participants are OSPs acting as borrowers and Network Liquidity Backers (NLB) acting as lenders.

How many Celer Network tokens are in circulation?

CELR is a service token of the Celer Network. It can be used to pay service fees and transactions to off-network service providers, as well as to pay for additional services. The CELR also serves as an incentive to maintain a stable pool of liquidity in the process of confirming liquidity obligations.

Its cost for today is 0.128011 USD, with a daily turnover of 217,584,120 USD. To date, 6,051,936,993 of CELR tokens is in circulation, with a maximum supply of 1,000,000,000 tokens. 

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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