Article Summary, Automatically Generated By AI
About Celo
Key Points
- Celo is a carbon-negative, permissionless blockchain with a rich ecosystem of global partners.
- Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack.
- The open-source Celo mainnet launched on Earth Day 2020.
- The Celo community passed an indicative on-chain governance proposal to migrate to an Ethereum layer-2.
- 1,000+ projects in over 150 countries are building on Celo.
Founders
- Rene Reinsberg, President of the Celo Foundation
- Marek O
About Celo: Empowering a Global Economy
Introducing Celo (CELO): A Comprehensive Overview
Celo is a pioneering, carbon-negative, permissionless blockchain, fostering a vibrant ecosystem of global partners who are crafting innovative Web3 decentralized applications to promote a more inclusive financial system. With accessibility at its core, the Celo ecosystem is open to anyone with a mobile phone, comprising a decentralized, proof-of-stake blockchain technology stack (the Celo platform), the CELO governance asset, and several Mento stable assets (cUSD, cEUR, cREAL) that enable real-world users to harness digital assets. The open-source Celo mainnet was launched on Earth Day 2020. The Celo community has endorsed an indicative on-chain governance proposal (temperature check) to migrate Celo to an Ethereum layer-2. Notable entities such as Google Cloud, Deutsche Telekom, and Telefonica, among others, operate validators on the Celo Platform. Today, the Platform supports over 1,000 projects across 150 countries, all working together to create the conditions for universal prosperity. For more information, please visit Celo.org.
The Visionaries Behind Celo: Meet the Founders
Celo was co-founded in 2017 by Rene Reinsberg, who currently serves as President of the Celo Foundation; Marek Olszewski, the current Chief Technology Officer at cLabs; and Sep Kamvar, a renowned computer scientist, artist, and former professor at the esteemed MIT Media Lab.
Unveiling the Uniqueness of Celo
Celo is a pioneering, carbon-negative, permissionless blockchain that supports the CELO governance asset and a range of ERC-20 Mento stable assets, which can be utilized to settle transaction fees. With its inherent interoperability, cross-chain compatibility, and mission to foster prosperity for all, Celo is poised to propel the regenerative finance (ReFi) movement into the mainstream, thereby accelerating global financial inclusion, community-driven commerce, and climate-positive technologies across multiple ecosystems in parallel. Notably, Celo is one of the world’s first carbon-negative blockchains, boasting a proof-of-stake consensus mechanism that consumes a mere fraction of the energy required by proof-of-work chains. The Celo community’s commitment to environmental stewardship extends further, as a key partner in the Climate Collective, a burgeoning coalition of companies operating at the intersection of Web3 and climate action. The Mento Reserve, powered by the Mento Protocol, provides users on the Celo blockchain with access to a diverse range of stable assets, with plans to allocate 40% of the Reserve to natural capital-backed assets within four years. Another distinctive feature of Celo is its mobile-first design, which enables the platform to reach billions of global users at scale. This includes a light-client syncing mechanism called Plumo, a zk-SNARK-based system that allows Celo mobile and resource-constrained users to rapidly sync with the Celo blockchain while utilizing only a few kilobytes of data; mapping encrypted phone numbers to wallet addresses (enabling users to send digital assets to friends and family in their contact lists); or accessing an ecosystem of dapps, such as the Valora Wallet, via low-powered smartphone devices. Each of these features simplifies transacting on the blockchain for users of all experience levels. To delve deeper into Celo’s unique attributes, visit the Celo library of technical documentation and Github.
What Is the Circulating Supply of Celo (CELO) Coins?
The CELO governance asset boasts a fixed supply of one billion, with the circulating CELO assets divided between the Mento Reserve and a diverse community of CELO holders.
The Celo Network’s Security Mechanisms: A Robust Framework
The Celo blockchain operates on a proof-of-stake consensus mechanism, which enables a decentralized and secure network. The CELO governance asset plays a pivotal role in fostering the platform’s security, growth, and development. By staking their CELO assets, holders can support Celo Validators, participate in voting on proposed changes to the core technology, and engage directly with decentralized applications (dapps) on the Celo Platform. Validators are instrumental in the consensus mechanism, as they independently verify transactions, propose blocks, and contribute to the security of the Celo network, thereby ensuring the integrity of the blockchain.
Where to Acquire Celo (CELO): A Comprehensive Guide
CELO can be acquired with fiat currency on prominent exchanges such as Binance, Coinbase (where it is listed as CGLD), KuCoin, OKX, and several others. Additionally, it can be obtained through global onramp services, including MoonPay, Ramp Network, and Simplex/Nuvei.