### What is Celer Network?

Celer Network is a layer-2 scaling platform for deploying decentralised applications on various blockchains, enabling interoperability within the blockchain ecosystem. It acts as a solution for off-chain scaling for transactions and smart contract operations, supporting multiple blockchain environments without requiring changes to base protocols.

### 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.

### What are the potential use cases for Celer Network?

Celer Network has various potential use cases, including decentralised finance (DeFi), decentralised exchanges (DEXs), lending protocols, prediction markets, and bridging liquidity across multiple blockchain platforms. It solves scalability and interoperability issues for many blockchain networks, particularly those with smart contracts and dApps.

### What is the history of Celer Network?

Celer Network was founded in Q3 2018 by a team of engineers, including Dr. Mo Dong, Dr. Junda Liu, Dr. Xiaozhou Li, and Dr. Qingkai Liang, who all hold Ph.Ds in Computer Science. Significant milestones include raising $30 million in its initial coin offering (ICO) in March 2019, launching its alpha testnet in May 2019, and the beta version of the Celer Network mainnet in March 2020. The technology has evolved to include a suite of layer-2 scaling tools, such as generalized state channels and rollups, to improve the efficiency of current-generation blockchain networks.

Celer Network

Ethereum

Cardano

Hedera

Avalanche

Polkadot

Bittensor

Cronos

Ethereum Classic

Aptos

NEAR Protocol

Internet Computer

Mantle

Kaspa

Arbitrum

ATOM

Polygon

Quant

Celestia

Celer Network (CELR)

Similar Coins

ETH

ADA

SUI

HBAR

AVAX

DOT

TAO

CRO

ETC

APT

NEAR

ICP

MNT

KAS

ARB

ATOM

POL

SEI

QNT

TIA

Resources

Celer Network (CELR) Price Index

Celer Network Price

Trading volume

Market cap

Resources