What Is CELR (Celer Network)? Is CELR Worth Investing?
Welcome to our CELR (Celer Network) review!
Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics
Is Celer Network worth investing? Where to buy Celer Network for investment? Read on to find out more.
Disclaimer: This article does not endorse or recommend investing in cryptocurrencies. This article should not be taken and viewed as investment advice, but only information and opinions. This article is for information and illustrative purposes only.
Celer Network (CELR) Review Summary
Name: Celer Network (CELR)
Circulating Supply: 1,995,348,258
Maximum Supply: 10,000,000,000
Issue Date: 2019-03-19
Summary: Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics. More specifically, it wants to enable developers quickly build and operate highly scalable decentralized applications. They join a long list of companies that are trying to achieve similar ends. Celer appears to have some competitive advantages over other similar projects that could help lift it to prominence. Chief among these is its demonstrated speed, with the network performing 15x faster than rivals thanks to its generalized state channel and channel balancing solutions. Celer has avoided the obsolescence problem by becoming blockchain agnostic. Because it can work with any blockchain there is no chance of it becoming obsolete due to the blockchain it supports losing support. And not least of all the staking mechanism used by Celer Network ensures the token will remain valuable.
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What is Celer Network (CELR)?
Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract.
It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics.
As we all know, scaling blockchain networks is direly needed, even though it poses a lot of challenges.
By becoming the first off-chain operating network with internet-level scalability, Celer Network may become the most scalable chain in the world of distributed ledgers.
Celer Network uses a layered architecture to ensure stability and scalability.
While very technical in nature, it seems to support the transformation of DApp states.
More specifically, it can evolve beyond the more traditional concept of simple payments and provide many new features.
The project’s documentation shows how all this will work, although it will prove difficult to grasp for most consumers.
How Is Celer Network Different from the Other Scalability Solutions?
The Celer Network deploys a layered architecture to enhance scalability and stability.
With more scalable blockchain applications, it will not take long until we witness mass adoption.
In short, the network seeks to support the transformation of dApp states.
It has the potential of shifting from the traditional concept of simple payments while offering additional new features at the same time.
From a theoretical perspective, layer-2 scaling is superior because it permits the network to process minimal transactions off the blockchain.
The transactions are then grouped into a single transaction that is later rearranged on-chain.
Through this process, the transaction bottleneck is reduced on the main chain while increasing the operational space of the entire system.
Celer’s network architecture is called Cstack with four layers, namely cRoute, cOS, cChannel, and cApps. cRoute deploys the distributed balanced routing system to move payment traffic in a decentralized and trust-free environment.
For cOS, it takes care of operations, storage, off chain disputes and tracking. On the other hand, cChannel offers liquidity while enhancing instant state transitions.
They have the eChannel layer which enables gaming applications, exchanges, and other throughput apps to run on the Celer Network.
Lastly, cApps is the network’s application ecosystem set for scalability and privacy-preserving.
Celer Network Features
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Is CELR Worth Investing?
Celer faces competition from a number of projects that offer both on chain and off chain scaling solutions.
On-chain consensus improvements can facilitate faster transactions speeds but do not change the fundamental limitations of on-chain consensus, and struggle to attain mass adoption levels of scalability.
At the same time, existing off-chain payment proposals are still inefficient in terms of generality, routing, and cryptoeconomics.
The project faces competition from other payment channel networks such as Raiden, Lightning Network, Trinity Protocol, Teechain, Kava and Liquidity Network.
In addition, Funfair Stack, and Spankchain have developed their own state/payment channel technology, while Ethereum is working on scaling solutions like Plasma and Casper/Sharding.
The Celer team have also outlined that their platform is able to process transactions x15 faster than Lightning Network or Raiden.
However, the project is operating in a market sector that is becoming less attractive to investors.
There are a significant number of projects aiming to solve the issues currently hindering both on-chain and off-chain scaling.
In addition, projects such as Funfair, Stack, and Spankchain are also working on implementing state channel technology that will help to facilitate frequent transactions between connected parties.
Celer Network Roadmap
- cChannel: enhanced generalized state channels with more use case support
- cRoute: initial implementation & testing
- cOS: SDK public v2.0 release, focus on integrated flow of mobile and web
- cEconomy: PoLC and LiBA security audit, SGN testnet alpha launch
- Community: onboard third-party Apps
- cChannel: gradual Ethereum mainnet roll out and continued blockchain expansion and integration
- cRoute: test and initial deployment
- cOS: SDK public v3.0 release
- cEconomy: PoLC mainnet launch
- Community: begin to onboard off-chain service providers
- cChannel: full cross-chain interoperability
- cRoute: production measurement and optimization
- cEconomy: SGN and LiBA mainnet launch
- cOS: SDK public v4.0 release to enhance UX for real-world use cases
- Community: continue to grow Celer-enabled application ecosystem with sustainable new app adoption funnel strategy
Which Crypto Exchange to Buy CELR?
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