Crypto Spotlight: Celer (CELR)
Who is Celer?
Celer (CELR) token is part of the Celer Network which is a layer-2 scaling platform that brings fast, secure, and low-cost blockchain applications on Ethereum, Polkadot, and other blockchains to mass adoption.
Celer launched the world’s first Generalized State Channel Network and continues to push the frontier of layer2 scaling with advanced Rollup technology. Core applications and middlewares like cBridge, layer2.finance and more ecosystem applications built on Celer have attracted more large audiences in DeFi, blockchain interoperability, and gaming space.
Celer rolled out the first version of its cross-chain network dubbed cBridge 1.0 on the mainnet in July 2021.
The bridge allows users to transfer assets between several blockchains including Ethereum, Binance Smart Chain, Polygon, and Arbitrum at a fraction of the cost, within minutes instead of having to wait for several days.
Other partnerships include Dfinity, Ankr, Chainlink and Maker among others.
New updates have brought attention to the project and it has been reflected in recent price action, and many are reaping the benefits.
Only two months after launching the first version, Celer released cBridge 2.0 as an “innovation-packed major upgrade” to introduce deep liquidity for users.
Announced on September 22, the blockchain project noted that the cBridge 2.0 features other improvements for all participants, including users, stakers, and developers.
Users will enjoy more simplicity, native gas token unwrapping, access to more tokens and chains, and an Insured bridge node Service Level. At the same time, Liquidity Providers are no longer required to run a cBridge node and will enjoy simpler experiences, high liquidity efficiency, incentivized liquidity rebalance, and high quality-of-service node scheduling.
Stakers and validators, on the other hand, will directly capture the value of the cBridge through rewards and will also be able to participate in governance while developers will access white-label frontend SDK, cross-chain messaging for NFT, and more.
Very promising news for the future of Celer with more improvements surely to come.
As of the time of this writing (October 2, 2021), the price of Celer Network has fallen by 15.87% in the past 7 days. The price increased by 5.32% in the last 24 hours.
The current price is $0.149014 per CELR. Celer Network is 25.49% below the all-time high of $0.20.
The current circulating supply is 5,981,936,992.598 CELR.
Author: David Gonzalez
Digital Dave is from South Florida and has 17+ years of experience in the fields he loves to write about: finance, crypto and sports betting.