Celer Network is a full stack platform. It supports dApps such as gaming, online auction, insurance, prediction market, and decentralized exchanges. Celer Network was founded by four PhDs from MIT, Princeton, UC Berkeley and UIUC. It also has its own utility token, named CELR.
Celer Network description
The network has a layered architecture which makes the interface cross-layered and consequently more convenient. In its design, Celer network adopts an off-chain technology stack, named cStack, that can be built on different blockchains and has the following layers:
- cChannel - the bottom layer of CN. It is introduced by Lightning Network to support Bitcoin payments.
- cRoute - CN’s payment routing module which is represented by Distributed Balanced Routing (DBR). It routes payment traffic with the help of distributed congestion gradients. cRoute has the following features: provably optimal throughput, transparent channel balancing, fully centralized, failure resilience, privacy preserving.
- cOS - development framework.
Celer Network’s cryptoeconomics
CN has its own economic policy, named cEconomy, which is represented by Celer Network’s protocol token (CNPT) and three components:
- Proof of Liquidity Commitment (PoLC). PoLC is a mining process that acquires stable liquidity for the off-chain ecosystem.
- Liquidity Backing Auction (LiBA). This aspect helps to solicit liquidity with negotiated interest rates. Lenders are ranked according to their “happiness scores” that are determined by the interest rate, the amount of provisioned liquidity and the amount of staked CELR.
- State Guardian Network (SGN). SGN represents a special compact sidechain which guards the chain while users are offline.
Each node needs to know its destination of a value transfer request due to get a place for it in a proper debt queue. It also uses so-called onion nodes which “peels’ away a single layer, uncovering data’s next destination. When the final layer is decrypted, the message gets its destination.
Protocol token of Celer Network (CELR) is a major component of the ecosystem which designed to be used only within the network. CELR is non-refundable utility token. The token sale ended 24th March 2019 on Binance Launchpad.
- Total token supply is 10,000,000,000 CELR.
- Public sale token price: 1 CELR = 0.000434 BNB / 0.0067 USD
- Token type: ERC20
Key features of CELR
- Already achieved 10,000X transaction latency reduction
- Zero off-chain smart contract transaction fees
- Accelerates both payment and smart contracts
- 100X fee reduction for micro payment
- Horizontally scalable as more nodes joining
- Provably optimal off-chain payment routing algorithm
- The world’s first off-chain crypto economics model to ensure safety and high liquidity
- Blockchain agnostic (already support Ethereum, DFINITY and all EVM based blockchains)