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What is Celer Network (CELR)?

Celer Network basic info

Name:Celer Network
Ticker:
Introduction:

What Is Celer Network?

Celer Network is a layer-2 scaling solution, aiming to bring enhanced interoperability and scalability to blockchain networks. It was founded by four PhDs from MIT, Princeton, UC Berkeley, and UIUC, and it strives to facilitate swift, low-cost, and secure off-chain transactions across multiple blockchains. Celer Network is designed to address the inherent trade-off between scalability and decentralization in blockchain networks by employing advanced off-chain scaling techniques. This enables it to process a higher volume of transactions off the main chain, making it a pivotal innovation in the blockchain space.

Celer Network focuses on optimizing smart contract operations and increasing the throughput of off-chain transactions, offering a seamless experience for decentralized applications (DApps) across various blockchain platforms like Ethereum and Polkadot. The protocol is not just an optimization but a necessity for supporting fully scalable DApps with enhanced privacy and uncompromised trust and decentralization. It stands as the inflection point for blockchain mass adoption and is poised to be the engine behind all large-scale decentralized applications.

Resources

Official Documents: https://im-docs.celer.network/developer/celer-im-overview

Official Website: https://celer.network/

How Does Celer Network Work?

Celer Network employs a combination of state channels, similar to Bitcoin’s Lightning Network, and a Distributed Balanced Routing algorithm to enable instant, low-cost transactions with higher throughput. It operates on a proof-of-stake (PoS) consensus mechanism built on Tendermint, allowing different blockchains to communicate, acting as a sidechain that provides layer-1 blockchain-level security with CELR as the platform asset.

Celer has developed several key components, including cChannel, which interfaces with layer-1 blockchains like Ethereum and updates the layers on top of it with the current blockchain states. It also employs cRoute, utilizing a routing approach known as Distributed Balanced Routing (DBR) to distribute traffic through congestion gradients, achieving 15x higher throughput than other state channel solutions. Additionally, Celer has developed cOS, a user-friendly framework and runtime for creating, running, and using scalable off-chain DApps, allowing developers to focus on building great user experiences while the system handles the technical complexities of off-chain scaling.

Celer’s solutions are built upon the State Guardian Network (SGN), a PoS blockchain based on the Cosmos blockchain, where validators oversee Celer’s smart contracts across different chains, relaying messages or transfers to the relevant contracts on the target chain. Celer also features the Inter-chain Message Framework (IM) and cBridge, facilitating swift and cost-effective value transfers across various layer-1 and layer-2 chains and enabling developers to create multi-blockchain applications with the simplicity of a single-transaction user experience.

What Is CELR Token?

CELR is the native token of Celer Network, serving multiple purposes including staking, transaction fees, and governance. CELR staking allows users to participate in network security and earn rewards, and the tokens are also used to pay transaction fees, contributing to the network’s economic model. Furthermore, CELR holders have a say in the platform’s development and decision-making processes through governance mechanisms.

Celer Network's Impact on Finance

Celer Network is poised to have a transformative impact on the financial sector, particularly in decentralized finance (DeFi). It addresses the persistent challenges of high transaction fees and slow confirmation times on platforms like Ethereum by enabling faster and cheaper transactions. This enhancement in efficiency and accessibility can revolutionize DeFi platforms, opening new possibilities for users and developers alike.

Celer Network’s technology is versatile, finding applications in decentralized exchanges, bridges, yield aggregators, lending protocols, and governance, allowing seamless interaction and transaction across different blockchains. It enables users to swap tokens, send tokens and NFTs across multiple chains, manage multiple blockchain vaults, and use liquidity or collateral on one chain to borrow assets on another chain from a single platform, thereby fostering innovation and user convenience in the financial sector.

What Determines Celer Network's Price?

The price of Celer Network's token, CELR, is influenced by a myriad of factors, reflecting the dynamics of the cryptocurrency market. Cryptocurrency prices, including that of CELR, are primarily determined by supply and demand dynamics, investor sentiment, and market speculation. When there is a surge in cryptocurrency adoption and positive cryptocurrency news, it often leads to increased demand, driving up the price. Conversely, adverse cryptocurrency news or regulatory developments can lead to price declines. Cryptocurrency enthusiasts and experts closely monitor these factors, analyzing cryptocurrency charts and trends to make informed price predictions for 2023 and beyond.

Market liquidity also plays a crucial role in determining the CELR price. The ease with which the token can be bought or sold in the cryptocurrency market impacts its price stability. Tokens like CELR can be bought on leading exchanges such as Bitget, where liquidity is typically high, offering more stable prices. Additionally, the broader crypto market volatility, cryptocurrency risks, and security concerns can significantly impact the price of CELR. Cryptocurrency enthusiasts and potential investors are advised to conduct thorough cryptocurrency analysis and consider crypto portfolio management strategies before making investment decisions, assessing whether CELR aligns with their risk tolerance and investment goals for the best crypto investment for 2023.

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Current price:
All-time high:$0.1987
All-time low:$0.001014

CELR supply and tokenomics

Circulating supply:7,763,424,000 CELR
Total supply:10,000,000,000 CELR
Max supply:10,000,000,000 CELR
Market cap:$81.72M
Fully diluted market cap:$105.26M
Token allocation:
Foundation
25.00%
Team
18.30%
Marketing & Ecosystem
17.00%
Private round
15.50%
Launchpad Sale
11.50%
Seed round
6.00%
Mining rewards
5.00%
Advisors
1.70%
Tokenomics:

Uniqueness

Celer fundamentally changes how multi-blockchain dApps are built and used. Instead of deploying multiple isolated copies of smart contracts on different blockchains, developers can now build inter-chain-native dApps with efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, without complicated manual interactions across multiple blockchains.

Celer uses smart contracts that are deployed on each chain paired with the State Guardian Network, a Tendermint-based blockchain, in order to enable seamless multi-blockchain interoperability. To send a message or invoke a smart contract function cross-chain, a user or a dApp will first send their intention as a message with a structured header and arbitrary binary payload to a Message Bus smart contract on the source chain. Then the validator, the State Guardian Network, will first reach a consensus on the existence of such a message, and concurrently generate a stake-weighed multi-signature attestation. This attestation then is relayed to the destination via an Executor subscribing to the message. On the destination chain, the same Message Bus contract exists to check the validity of the message and triggers the corresponding logic associated with the message either immediately or after a timeout.

Links

Buy Celer Network for $1Buy CELR now

What is the development prospect and future value of CELR?

The market value of CELR currently stands at $81.72M, and its market ranking is #386. The value of CELR is not widely recognized by the market. When the bull market comes, the market value of CELR may have great growth potential.

As a new type of currency with innovative technology and unique use cases, CELR has broad market potential and significant room for development. The distinctiveness and appeal of CELR may attract the interest of specific groups, thereby driving up its market value.

What will the price of CELR be in 2025?
Based on CELR's historical price performance prediction model, the price of CELR is projected to reach $0.01477 in 2025.
What will the price of CELR be in 2030?
In 2030, the CELR price is expected to change by -19.00%. By the end of 2030, the CELR price is projected to reach $0.03197, with a cumulative ROI of +179.71%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of CELR and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is CELR worth investing or holding? How to buy CELR from a crypto exchange?

If you want to buy CELR, the following information may be helpful for your investment decisions:
In the last 7 days, the price of CELR has fallen by -13.88%, leading to negative returns for most CELR investors. The market is currently pessimistic about the price trend of CELR.
It is important to note that the current price of CELR has retreated by -94.70% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether CELR is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in CELR or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of CELR, if you want to buy or sell CELR, you can consider Bitget for your trading needs. The best place to buy CELR is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Celer Network has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Celer Network. Here's a step-by-step guide on how to buy Celer Network on Bitget.

How to get Celer Network through other methods?

Using cash to buy Celer Network is not the only way to obtain Celer Network. If you have the time to spare, you can get Celer Network for free.
Learn how to earn Celer Network for free through the Learn2Earn promotion.
Earn free Celer Network by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Celer Network airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Celer Network through Bitget Convert, Bitget Swap, or spot trading.

What is Celer Network used for and how to use Celer Network?

The use case of Celer Network may expand as the crypto market and the project itself develop. Currently, you can use CELR to achieve the following goals:
Arbitrage by trading CELR: Since CELR is a frequently traded cryptocurrency, the price of CELR is always fluctuating. Earn more CELR by buying low and selling high on the exchange. Bitget spot market provides a variety of CELR trading pairs to fully meet your needs.
Earn by staking CELR: You can also generate income through financial management methods such as staking CELR or lending CELR. Bitget Earn offers a variety of financial products designed to help you earn more income from your CELR.
Send or pay CELR: If you want to give CELR to your friends, a charity, or a fundraiser, or you want to pay someone with CELR, you can quickly and easily send CELR to the recipient through their payment address.
You can also go to the official website of the Celer Network project to learn more about the use cases of CELR. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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