What is CELO?
The Celo platform (CELO) is a proof-of-stake platform that is open-source and governed by CELO token owners. Celo is a mobile-first platform that makes financial decentralised applications (dApps) and crypto payments accessible to anyone on a mobile device. It has processed more than 11 million transactions with an average block time of 5 seconds. Celo's mission is to 'build a financial system that creates the conditions for prosperity - for everyone'. In addition to payments, Celo's support of dApps allows everyone to contribute to a community's universal basic income scheme. A key feature of Celo is its ability to operate stablecoins, such as cUSD. This allows Celo to offer the efficiency and transparency of crypto transactions, while providing relief from the volatility of most crypto assets. Celo has plans to allow the token holders to propose and vote on the creation of stablecoins that mirror their own national fiat currency.