What is Celer Network?

Celer Network (CELR) is a layer-2 scaling platform designed to improve blockchain scalability, transaction speed, and cost-efficiency. Launched in 2019, Celer enables fast, secure, and low-cost off-chain transactions for DeFi, gaming, NFTs, and micropayments.

The Celer Network ecosystem includes Celer State Channel, Celer Rollups, and the cBridge, which facilitates cross-chain interoperability. Celer Network's native token, CELR, is used for staking, liquidity incentives, and transaction fees within the network.

How is Celer Network useful?

Celer Network enhances blockchain scalability and interoperability, enabling users to conduct fast, low-cost transactions across multiple blockchains. Celer Network supports DeFi applications, gaming platforms, and NFT marketplaces, making blockchain adoption more seamless.

Developers benefit from Celer Rollups, which improve Ethereum’s efficiency, while cBridge allows instant cross-chain asset transfers. The CELR token powers the network, incentivizing liquidity providers and securing the ecosystem through staking.

How does Celer Network work?

Celer Network operates as a layer-2 solution, leveraging state channels, rollups, and cross-chain bridges to optimize blockchain performance. Celer State Channel enables off-chain smart contract execution, reducing congestion on the main blockchain.

Celer Rollups aggregate transactions, lowering gas fees while maintaining security. cBridge, a key feature, allows instant token transfers across Ethereum, Binance Smart Chain, Polygon, and other networks. The CELR token is staked to secure the network and used for transaction fees.

Celer Network milestones

• Launch of Layer-2 Scaling Solutions: Introduced state channels and rollups for faster transactions.

• cBridge Development: Enabled cross-chain asset transfers with near-instant settlement.

• Expansion to Multi-Chain Networks: Integrated with Ethereum, BSC, Polygon, and other blockchains.

• DeFi and Gaming Adoption: Partnered with DeFi protocols and blockchain-based games to enhance scalability.

• Staking and Liquidity Incentives: Strengthened network security and cross-chain liquidity through CELR staking.

Celer Network continues to revolutionize blockchain scalability, providing efficient, cost-effective, and interoperable solutions for Web3 applications.

Buy Celer Network (CELR) on BITmarkets.