- CELR is a well-constructed layer-2 scaling solution.
- The platform utilizes Delegated Proof of Stake (DPoS) consensus (DPoS).
In the cryptocurrency market, Celer Network’s token – CELR – has grown approximately 1110.1 percent since its launch, trading about $0.08107 as of September 12. Despite the general crypto sell-off, the currency has managed to remain positive thus far in 2021.
Although blockchain is an intriguing technology, transaction and throughput rates are likely to be poor. CELR is a well-constructed layer-2 scaling solution handling off-chain transactions. Off-chain payments and smart contracts are made simple, fast, and safe using the Celer platform. One of the first Substrate projects was the Polkadot ecosystem.
The Celer Network architecture (cStack) has four parts:
- cOS: The network’s workflow core.
- cRoute: A method for increasing network capacity by simplifying routes.
- cChannel: Network transaction channels.
- cApps: A scalable and user privacy application layer.
Layer-2 Scalability For Any Blockchain
The platform utilizes Delegated Proof of Stake (DPoS) consensus (DPoS). This method allows users to stake their currencies for a reward while delegating transaction validation to “delegates.”
Holders of CELR coins will be rewarded for providing liquidity. Furthermore, Celer’s main feature is layer-2 scalability for any blockchain. Thus, the project improves the product’s dependability, coverage, and adaptability while increasing its liquidity potential.
Celer Network, established in 2018 by a talented group of engineers. Celer’s four co-founders all have PhDs in computer science from prestigious institutions, including MIT and UC Berkeley.
According to CoinMarketCap, the price of the Celer network has recently gone up by 31.98% in the last 24 hours. The Celer Network price is $0.164142 USD, and the 24-hour trading volume of $1,135,169,584 USD.
For the long run, the Celer network price forecast is even more bullish, with the platform expecting the CELR token to reach $0.243 in five years, a possible 170 percent increase.