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About Celer Network
-
What is Celer Network (CELR)?
: A blockchain interoperability protocol enabling a one-click user experience across multiple chains. -
Founders
: 4 co-founders with PhDs in Computer Science from MIT, UC Berkeley, and Princeton University, with experience from high-profile tech companies. -
Unique feature
: Enables inter-chain-native dApps with efficient liquidity utilization, coherent application logic, and shared states. -
Token supply
: 10 billion CELR tokens, distributed as follows: 25% – PoLC mining reward and Off-chain ecosystem building; 20% – Team and Advisors; 17% –
About Celer Network: Unlocking the Full Potential of Blockchain
Introducing Celer Network (CELR): A Revolutionary Blockchain Solution
Celer is a pioneering blockchain interoperability protocol that seamlessly facilitates a one-click user experience, granting effortless access to a diverse array of tokens, decentralized finance (DeFi), GameFi, non-fungible tokens (NFTs), governance, and more across multiple blockchain ecosystems. By leveraging the Celer Inter-chain Messaging Framework, developers can craft inter-chain-native decentralized applications (dApps) that harness efficient liquidity utilization, coherent application logic, and shared states. Meanwhile, users of Celer-enabled dApps will revel in the benefits of a vibrant, multi-blockchain ecosystem, all while enjoying the simplicity of a single-transaction user experience, conveniently accessible from a single chain.
The Visionary Minds Behind the Celer Network
Celer Network was established in 2018 by a formidable team of engineers boasting exceptional technical expertise and specialized knowledge. The four co-founders of Celer, all PhD holders in Computer Science from esteemed institutions such as MIT and UC Berkeley, bring a wealth of experience from their tenure at high-profile tech companies.
- Dr. Mo Dong, a Ph.D. graduate from the University of Illinois at Urbana-Champaign (UIUC), boasts an impressive background as a founding engineer and product manager at Veriflow, where he worked on network formal verification. Notably, he is an expert in applying algorithmic game theory to protocol design and has taught full-stack smart contract courses to hundreds of students.
- Dr. Junda Liu, a Ph.D. holder from the University of California, Berkeley, joined Google in 2011 to develop its datacenter networking infrastructure. He was a founding member of Project Fi mobile service from 2014 onwards and served as the Android Tech Lead for carrier services, which are utilized by over 1.5 billion devices.
- Dr. Xiaozhou Li, a Princeton University Ph.D. graduate, has published numerous works in premier venues focused on distributed systems, networking, storage, and data management. His contributions have become integral components of prominent technologies, including Google TensorFlow, Intel DPDK, and Barefoot Deep Insight.
- Dr. Qingkai Liang, a Ph.D. graduate from the Massachusetts Institute of Technology (MIT), has dedicated his research to various learning and control problems in networked systems, with a particular emphasis on online learning algorithms in adversarial networks. His work has been successfully applied in esteemed institutions, including Raytheon BBN Technologies and Bell Labs.
Unveiling the Uniqueness of Celer Network (CELR)
Celer revolutionizes the development and utilization of multi-blockchain decentralized applications (dApps) by introducing a novel paradigm. Rather than deploying multiple, isolated instances of smart contracts on disparate blockchains, developers can now craft inter-chain-native dApps that harness efficient liquidity utilization, coherent application logic, and shared states. Furthermore, users of Celer-enabled dApps will reap the benefits of a diverse, multi-blockchain ecosystem, all while enjoying the simplicity of a seamless, single-transaction user experience, unencumbered by complicated manual interactions across multiple blockchains.
Celer leverages smart contracts deployed on each chain, in tandem with the State Guardian Network, a Tendermint-based blockchain, to facilitate seamless multi-blockchain interoperability. To initiate a cross-chain message or invoke a smart contract function, a user or decentralized application (dApp) sends an intention message, comprising a structured header and arbitrary binary payload, to a Message Bus smart contract on the source chain. Subsequently, the validator, the State Guardian Network, achieves consensus on the existence of the message and concurrently generates a stake-weighted multi-signature attestation. This attestation is then relayed to the destination via an Executor subscribing to the message. On the destination chain, the identical Message Bus contract verifies the message’s validity and triggers the corresponding logic associated with the message, either immediately or following a timeout.
The Circulating Supply of CELR: A Closer Look
CELR boasts a maximum token supply of 10 billion, allocated as follows: 25% is reserved for PoLC mining rewards and off-chain ecosystem development; 20% is divided between the team (18.3%) and advisors (1.7%); 17% is allocated to the Foundation; 5% is dedicated to marketing and ecosystem growth; and 33% is designated for sale.
CELR is an ERC-20 standard token, meticulously crafted on the Ethereum blockchain, serving as a linchpin in managing the network economy and boasting a multitude of applications:
- By staking CELR in the State Guardian Network (SGN), users can attain the esteemed status of State Guardian, thereby granting them access to real-time status monitoring, dispute resolution, and the ability to enhance network security and efficiency.
- Staking CELR in the SGN or delegating CELR to SGN nodes enables users to earn PoS staking rewards and transaction fee earnings generated from Celer cBridge and Celer IM-based inter-chain dApps, thereby providing a lucrative incentive.
- Users can participate in network governance by exercising their voting rights, thereby contributing to the evolution and growth of the network.
The Celer Network’s Security Framework: A Robust Defense Mechanism
Celer’s cornerstone, the State Guardian Network, is a decentralized Proof-of-Stake blockchain that operates as a message router, seamlessly bridging disparate blockchain ecosystems. By facilitating general message passing and cross-chain fund transfers, SGN provides a trifecta of benefits: robust PoS security, rapid finality, and cost-effective transactions for Celer-enabled decentralized applications.
Celer has successfully undergone a trio of rigorous smart contract audits, conducted by esteemed firms CertiK, PeckShield, and SlowMist, respectively.
Celer also boasts a substantial $2 million bug bounty program on Immunefi, fostering a collaborative environment that incentivizes community engagement and whitehat efforts to fortify and refine the network.
Acquiring the Celer Network Token (CELR): A Comprehensive Guide
The premier exchanges for trading Celer Network (CELR) are presently Binance, Gate.io, Bithumb, OKEx, Crypto.com Exchange, WazirX, AscendEX (Bitmax), CoinDCX, MXC.com, Bitay, DigiFinex, BKEX, AEX, BiKi, Hotbit, HitBTC, TOKOK, Uniswap V2, TOCENCAN, DragonEX, and ZT.
Alternatively, you can explore a comprehensive list of other options on our dedicated crypto exchanges page.
In March 2019, the CELR token sale was successfully conducted on Binance Launchpad, a prominent IEO platform. As of June 2021, the most liquid trading pairs for CELR on Binance are CELR/USDT, CELR/BTC, CELR/BUSD, and CELR/BNB, offering users a range of options for seamless transactions.
The Celer Network Architecture: A Harmonious Convergence of Scalability and Interoperability
The Celer Network architecture is underpinned and secured by its proprietary blockchain, the State Guardian Network, which employs a Proof-of-Stake (PoS) consensus variant known as Delegated Proof of Stake (DPoS). This algorithm enables participants to stake their coins in exchange for a reward, while delegating the responsibility of transaction validation to designated “delegates.”
The Celer State Guardian Network (SGN), built atop Tendermint, functions as a
message router, seamlessly bridging disparate blockchains. To participate in the
consensus process, validator nodes must stake CELR tokens, thereby underpinning
the economic security of the Celer Inter-chain Messaging Framework. In order to
leverage the SGN’s message routing service and store multi-signature attestations,
users are required to pay a fee to the SGN for these services. Supplementing
block rewards, these usage fees are redistributed to CELR stakers and validators
in recognition of their efforts in securing the network.
Associated Resources:
Delve into the Celer Inter-chain Messaging Framework: Unlocking Seamless Cross-Chain Communication
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