Celer Network has grabbed the world’s attention with its remarkable features, making it one of the most reliable options in the cryptocurrency marketplace for accessing tokens and NFTs.
Let’s dive into every single detail that you want or should know.
What is Celer Network (CELR)?
Celer is a blockchain protocol that simplifies the user experience for accessing various features. Celer streamlines access to tokens, DeFi, GameFi, NFTs, governance, and more across blockchains.
It provides developers with the Celer Inter-chain Message SDK, enabling them to create decentralized applications (dApps) seamlessly operating across different blockchains.
This technology allows for efficient utilization of liquidity, consistent application logic, and shared data states.
Founders and Vision
Celer was founded in 2018 by a group of highly experienced entrepreneurs, who were also Ph.D. scholars from prestigious institutions like MIT, Princeton, UC Berkeley, and UIUC. The co-founder’s names are Junda Liu, Mo Dong, Qingkai Liang, and Xiaozhou Li.
The vision behind Celer Network has always been to provide a comprehensive and practical solution to some of the fundamental challenges blockchain technology faces, especially with regard to scalability, usability, and adoption.
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Key Features of Celer Network
Here are two of the features of Celer Network.
Speed and Scalability
Celer Network boasts high transaction throughput, meaning it can process multiple transactions/second. This speed is crucial for applications that require real-time or near-instantaneous transaction confirmation.
Smart contracts on Celer Network are executed efficiently, reducing latency and ensuring rapid execution of complex operations. This is essential for DeFi applications, gaming, and other use cases where speed is of the essence.
Cross-Chain Compatibility
Celer Network leverages Layer-2 scaling techniques like state channels and sidechains. These off-chain solutions enable offloading transactions from the main blockchain, alleviating congestion and enhancing scalability. As a result, the network can handle many transactions without overburdening the underlying blockchain.
The Technical Framework of Celer Network
These are the three components involving the technical framework of Celer Network.
Off-Chain Scaling
Celer Network’s core technical framework revolves around off-chain scaling solutions. These solutions are designed to alleviate congestion and increase the scalability of blockchain networks.
cChannel
cChannel is a fundamental component of Celer Network’s off-chain scaling infrastructure. It represents the individual communication channels between users, allowing them to conduct off-chain transactions and interactions.
cRoute
cRoute is another crucial element within Celer Network’s technical framework. It functions as a routing protocol responsible for managing and optimizing the routing of transactions across various cChannels.
How Does Celer Network Achieve Low Latency?
Below are the two methods that Celer Network uses to achieve low latency.
State Guardian Network (SGN)
The State Guardian Network (SGN) is an essential component of Celer Network’s architecture that helps achieve low latency.
By offloading state management to the SGN, Celer Network reduces the burden on the main blockchain, resulting in faster transaction processing times. This separation of responsibilities ensures that users experience minimal delays when interacting with decentralized applications (dApps) on the network.
Proof of Liquidity Commitment (PoLC)
PoLC is another integral part of Celer Network’s strategy for achieving low latency. It is a virtual mining process where users lock up CELR tokens to provide liquidity within the network. A sufficient liquidity pool facilitated by PoLC allows quicker and more efficient transaction settlements within the Celer Network.
This reduced latency is crucial for enabling responsive and seamless user experiences across various decentralized services and applications.
How Secure is the Celer Network?
Celer Network strongly emphasizes security through two primary mechanisms mentioned below.
Encryption Methods
Celer Network employs advanced encryption methods to safeguard user data and transaction details. These encryption techniques ensure that sensitive information remains confidential and cannot be easily accessed by unauthorized parties.
Encryption is also applied to communication protocols within the network, protecting the integrity and privacy of messages exchanged between users and applications. This helps prevent data breaches and unauthorized access to sensitive information.
Smart Contract Audits
Smart contracts play a crucial role in the functioning of blockchain networks, including Celer Network. By conducting these audits, Celer Network aims to enhance the reliability and security of its smart contracts. Identifying and addressing potential security flaws ensures intelligent contracts operate as intended, reducing the risk of exploits and vulnerabilities.
CELR Token
Let’s dive into the use cases, tokenomics, and staking features of CELR token.
Utility and Use Cases
Here are some utility and use cases of Celer Token.
- Users can use CELR to pay for various transaction-related costs, ensuring seamless interactions on the platform.
- CELR holders can become State Guardians by staking their CELR tokens within the State Guardian Network.
- By locking CELR tokens to maintain a stable and substantial liquidity pool, users are rewarded with CELR tokens.
Tokenomics
Celer Network has a total token supply of 10,000,000,000 CELR tokens. Here is how its tokens are distributed.
- A significant portion of the tokens, 3,300,000,000 (33.00%), are earmarked for sale, potentially contributing to liquidity and broader distribution.
- Another substantial portion, 2,700,000,000 (27.00%), was allocated for private and pre-sale investors, enabling early supporters to participate in the project.
- A portion of 600,000,000 (6.00%) CELR tokens were made available to the public during the token sale.
Staking
Here’s how you can stake Celer Tokens.
- Access the Celer SGN Staking Website
- Connect your wallet
- Acquire CELR Tokens
- Stake CELR Tokens
- Earn rewards
- Monitor and manage your staked tokens
How to Buy CELR Token on Binance
It’s pretty simple to buy Celer Token on Binance. Here are a few steps that you must follow.
Creating Your Binance Account
You can create your Binance account by clicking on the link below, which will take you to the registration page using a special Coin Labs referral code. Here you must provide an email and create a strong password for your account.
Don’t forget the email and password, as they will be used for logging into your Binance account. The email you provide should be easily accessible for you, as all the notifications and OTPs will be sent to this email.
KYC Verification Process
Although you have registered as a user, that is not enough to be eligible for trading on Binance, as you must also verify your account. Know Your Customer(KYC) is a process by which Binance or any other crypto exchange recognizes the identity of a user.
Firstly, Binance ensures that the user is 18 years old by identifying that the user has a national identity card. Binance will ask for a front and backside photo of said national identity card.
After that, Binance will require a live photo from the user. This cannot be a selfie, but you will have to show your face on the front camera so that Binance can recognize that this is the same user with the national identity card.
That’s it, now you can buy Celer Token on Binance.
Additional Security Measures
Binance offers several security features, such as Two-Factor authentication and Google Authentication.
Whenever you try to log in, an OTP code will be sent to your specified email, and upon pasting that code, your account will be activated, so if someone knows your password, it will still be difficult for him to access it.
Google or Binance Authenticator are apps used for the same purposes. These apps provide constant OTPs for the Binance trading app. This can be used as a much quicker method than opening your email to see your code.
Moreover, you can also add your fingerprint as a security option for accessing your Binance account.
Depositing Funds
After creating and verifying your account, the next step is to deposit funds, without which you cannot trade. You can deposit funds in many ways, such as Credit/Debit cards, bank transfers, and P2P transactions.
Credit/Debit cards are the most effective and quick methods to deposit funds into the Binance account, as you just have to provide your CVC and the card’s expiry.
The bank transfer is also the same and can be done in a few minutes as you only have to provide your transaction information.
P2P is a little more time-consuming than the previous two methods because here, you first have to find a seller in the P2P market who is willing to sell his USDT. You will send your amount in the local currency to the seller, and in return, he will send the USDT into your Binance account.
Finding and Making the Purchase
You must now search for “Celer Token” in the Binance app search bar. After clicking on it, you will be directed to the Celer buying page. Upon clicking the buy button and mentioning the amount of Celer Token you want to buy, the purchase will be executed on this page.
Transferring CELR to Personal Wallet
After the purchase, Celer Token will be stored in your Binance account. From here, you can transfer it to any personal wallet you want. This is usually done to make your coins more secure.
Celer Network’s Partnerships
Here are some of the companies Celer Network has partnered with.
- Chainlink
- Binance
- Conflux Network
- Fantom
- Qtum
Future Prospects
Celer Network holds significant promise in the coming years, especially with the growing adoption of cryptocurrencies.
Many expert analyst’s market analyses suggest that, by the year 2030, there is a potential for CELR to achieve a remarkable new all-time high, potentially reaching approximately $0.114302.
Conclusion
Celer Network’s vision for the future of blockchain technology is nothing short of remarkable. It encompasses cutting-edge solutions to scalability, usability, and interoperability and a commitment to fostering a solid and engaged community.
As we’ve explored, Celer Network’s innovative approach and dedication to enhancing the user experience position it as a trailblazer in the blockchain space.
We Coin-Labs.com provides only objective information about Celer Network.
Therefore, we are not responsible for the investment decision in Celer Network and the resulting loss.
Celer Network Basics
Here are some factors that investors should consider before investing in Celer Network.
| Cryptocurrency Features | Celer Network (CELR) |
|---|---|
| Publisher or Developers | Celer Network |
| Headquarters (Registration Number) | |
| Symbol | CELR |
| Platform | |
| Published Date (CMC Registration) | 2024-09-14 |
| Max Supply | 10,000,000,000 CELR |
Reliability Score of Celer Network in 2024
These are indexes mesuring the investment reliability of Celer Network conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 6 Exchanges |
| Number of Available Pairs Worldwide | 196 Pairs |
| Market Cap of the Cryptocurrency | 125,856,892 USD (Rank #302) |
The table above shows the result of investment suitability evaluation for Celer Network.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Celer Network Price
Here are the price and recent trading volume of Celer Network. (Data of 2024-09-15 02:54:00)
| Price Items | Price and Trading Volume of Celer Network |
|---|---|
| Celer Network Price | 0.012 USD |
| Price Change 24h | -1.53% |
| Price Change 7d | 12.73% |
| Trading Volume 24h | 1,539,392 USD |
| Trading Volume Change 24h | -30.00% |
Cryptocurrency Metadata
You can check the development status and social media information of Celer Network through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Celer Network
Here are the top ten world crypto exchanges where traders can buy Celer Network in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/CELR_USDT |
| Coinbase | Listed | https://exchange.coinbase.com/trade/CELR-USD |
| Kraken | Listed | https://pro.kraken.com/app/trade/celr-usd |
| KuCoin | Listed | https://www.kucoin.com/ko/trade/CELR-USDT |
| Bitfinex | Not listed | |
| OKX | Listed | https://www.okx.com/trade-spot/celr-usdt |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Listed | https://www.gate.io/trade/CELR_USDT |
Frequently Asked Questions
What is the current price of Celer Network?
Celer Network price today is 0.012 USD. Furthermore, the price of Celer Network has fluctuated by -1.53% from 24 hours ago, and by 12.73% from a week ago.
Where is Celer Network listed?
Currently, it is listed on a total of 6 among the world top 10 exchanges.
What is the market cap of Celer Network now?
Currently, Celer Network has a market cap of 125,856,892 USD, which is ranking 302 among cryptocurrencies worldwide.
How much is the trade volume of Celer Network?
Currently, 7,743,424,107 CELR coins are circulating through 196 market pairs. As a result, in the last 24 hours, 1,539,392 USD of CELR coins were traded in the market.
