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.
Celer Network (CELR) is a blockchain interoperability protocol that lets users move assets and messages across different chains quickly and cheaply. In simple terms, it works like a bridge network between blockchains, and CELR is the token that powers it. The project's official site is celer.network.
Celer Network is a layer-2 scaling and inter-chain connectivity platform rather than a standalone blockchain. Its focus is on making transfers and communication between different networks fast and low-cost. The CELR token is used within this ecosystem for staking and securing the network's operations.
Celer uses a state-channel and rollup architecture combined with its State Guardian Network, a proof-of-stake layer that watches and verifies cross-chain activity. This allows transactions to be processed off-chain or across chains and then settled securely on the underlying networks. The design aims to cut fees and delays compared to doing everything directly on-chain.
CELR has a hard cap of 10,000,000,000 coins, meaning no more tokens can ever be created beyond that limit. The token follows a standard token standard (standard 3), which makes it compatible with common wallets and exchanges. This fixed supply is a key part of the token's design.
Since CELR is a standard-compliant token, it can be kept in any wallet that supports its standard, including hardware and mobile wallets. Within the Celer ecosystem, the token is used for staking and participating in network security and governance. Always double-check the official site, celer.network, before interacting with any services.