Celer Network CELR

Celer Network (CELR) is a leading two-layer platform which provides fast, simple and secure off-chain transactions both for payments and for work of smart contracts.
The project was founded by the team of experienced engineers and researchers who worked on such big and successful IT-companies like Nokia, Google, Microsoft and other. The team also has doctors of science of Massachusetts Institute of Technology, Priston, The University of California, Berkeley and University of Illinois at Urbana-Champaign on its board.
The network allows everyone to create and use DApps with unparalleled scalability due to innovations in the field of off-chain technologies and crypto economy mechanisms aimed at stimulus.
The main aim of Celer Network is to help blockchain reach its full potential and provide the revolution in creating and using DApps.
The project places emphasis primarily on the scalability and improving of capacity of the blockchains. Celer platform, though, does not depend on the blockchain which means that its usage won’t be confined by one decentralized ledger. This structure simplifies all the operations with DApps significantly and raise them to a new level.
Two-layer platforms, in general, had proven to be efficient solutions for lots of common blockchain problems. Performing most part of the operations off the chain and sending then the rest part inside the chain makes it possible to scale the decentralized blockchain network in the way it could manage millions of transactions per second.
The project’s team believes that intra-corporate solutions will not bring desired results to the future decentralized blockchains, so they offer their own solution.
This network is not a separate blockchain as this is a system that works over the existing and future blockchains. This system is called cStack and the architecture is multi-layered one which aims to provide fast development and good service. This multi-layer structure has comprehensible interface and provides fast evolution of every single component.
Thus, Celer Network has four basic layers with their specific functions.
cRoute is a layer responsible for routing. It uses Distributed Balanced Routing (DBR) for distributing the payment traffic. cRoute is transparent, decentralized and able to reach 15 times more capacity than Raiden or Lightning Network.
cOS is a layer that forms the external platform of the DApp development. It provides the patterns of designing and standardization allowing developers to manage the operations, storage, disputes and monitor the unscheduled infrastructure. cChannel is a layer which consists of side chains and provides liquidity and also helps to change states from one to another. This is a channel of generalized states where DAG technology is used for off-chain transaction support. This layer provides the work of various high-producing applications within the Celer Network. cApps is an applied layer. It is used for scalability and maintaining users’ anonymity.
So this system architecture can surpass other leading solutions while the application development and implementation can become stable and accessible. The experts find this solution capable of providing the scalability comparable to the Internet scalability.
The ecosystem economy which is called cEconomy has three distinctive elements: Proof-of-Liquidity Commitment or PoLC used for liquidity maintenance, which rewards participants with CELR tokens for providing their idle liquidity; Liquidity Backing Auction or LiBA which helps providers to get lending using so-called “crowd lending”; State Guardian Network that provides the data accessibility maintaining the offline states.
The project has the following advantages:
-transactions delay reduced significantly;
-absence of commission for off-chain smart contracts work;
-high speed of payments and smart contracts work;
-reduction of micropayments commission;
-horizontal scalability in the case of new nodes connection;
-optimal routing algorithm for off-chain transactions;
-the world’s first crypto economy off-chain model that provides security and high liquidity;
-compatible with different blockchains (it is already compatible with Ethereum, Dfinity and all the blockchains working on EVM).
CELR token is ERC20 token based on Ethereum. It is used as the fuel in the network economy (called cEconomy) managing and providing the following main functions:
-stimulation of stable liquidity maintaining;
-participation in auctions and increasing the applications weight;
-increasing of interest payments;
-using in State Guardian Network;
-rewarding the users’ contribution and network improvement;
-providing network services payments and so on.
So Celer Network is a platform focused on providing the highest level of multi-platform scalability for blockchains. This is an innovative, efficient and commercially viable modern solution.

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