Celer Network

Celer Network CELR

Market Cap $ 20.416 MM (#357)
24h Volume $ 5.052 MM
Chg. 24h: 5.11%
Show Quick Stats

Celer Network project purpose and description

Celer Network clarity of purpose

Celer Network purpose and aspects

Celer Network describes itself as a layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. Off-chain transactions in Celer can be arbitrary fraud-proof state transitions such as generic conditional payment, multi-party game move, second price auction bid, high-frequency token exchange, etc.

Celer Network categories

NetworkingSmart contractsPayments

Short description

Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics.


Just like how the 56Kbps dialup Internet in the 90s cannot possibly support 4K video streaming, the insucient scalability of today’s blockchain is the key factor limiting its use cases. Current blockchains have low throughput because each operation needs to be processed by the vast majority of nodes to reach on-chain consensus, which is exactly ”how to build a super slow distribution system”. Ironically, the on-chain consensus scheme also leads to poor privacy as any node can see the full transaction history of one another. While new consensus algorithms keep getting proposed and developed, it is hard to free on-chain consensus from its fundamental limitations. O↵-chain scaling techniques allow mutually distrustful parties to execute a contract locally among themselves instead of on the global blockchain. Parties involved in the transaction maintain a multi-signature fraud-proof o↵-chain replicated state machine, and only resort to on-chain consensus when absolutely necessary (e.g., when two parties disagree on a state). O↵-chain scaling is the only way to support fully scale-out decentralized applications (”dApps”) with better privacy and no compromise on the trust and decentralization guarantees. It is the inflection point for blockchain mass adoption, and will be the engine behind all scalable dApps. Celer Network is an Internet-scale, trust-free, and privacy-preserving platform where everyone can quickly build, operate, and use highly scalable dApps. It is not a standalone blockchain but a networked system running on top of existing and future blockchains. It provides unprecedented performance and flexibility through innovation in o↵-chain scaling techniques and incentive-aligned cryptoeconomics. Celer Network embraces a layered architecture with clean abstractions that enable rapid evolution of each individual component, including a generalized state channel and sidechain suite that supports fast and generic o↵-chain state transitions; a provably optimal value transfer routing mechanism that achieves an order of magnitude higher throughput compared to state-of-the-art solutions; a powerful development framework and runtime for o↵-chain applications; and a new cryptoeconomic model that provides network e↵ect, stable liquidity, and high availability for the o↵-chain ecosystem.

Link to Roadmap: https://www.celer.network/tech.html#roadmap
Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We'll open source these formulas soon. Past performance is not necessarily indicative of future results. Read the full disclaimer here.
Dark Theme   Light Theme