What is CELR currency? What is the future prospect of CELR coins?

Jan 04,2023
What is CELR currency? What is the future prospect of CELR coins?

As we all know, despite the rapid development of the blockchain industry, in recent years, the industry is facing many problems, and scalability is a major problem in the current blockchain field. The CELR coin project is designed for this purpose. To improve the scalability of the blockchain, we have to carry out horizontal expansion, which is very important for the development of blockchain technology. CELR coin can achieve billions of transactions per second. It is a good idea to solve this problem through the concept of off chain. So, what exactly is CELR coin? What are its future prospects? Next, let's have a look.

What is CELR currency?

CELR currency is one of the currencies. It is still an IEO concept currency. It issues tokens with the exchange as the core. The currency bypasses the step of ICO and directly issues to the exchange. CELR Token is suitable for the collateral of anti fraud bonds for liquidity lending, payment media for payment channel registration fees, transaction fees and other possible service fees.

In addition, in the first five years of system operation, the new CELR Token will be produced by PoLC mining, while LiBA only needs to mortgage the Token, and CELR will still belong to the lender after the mortgage period. When the 5-year PoLC mining period is completed, LiBA will start to consume CELR, and the spent CELR will not be returned to the lender, but will be used as a continuous PoLC mining reward injection system.

Celer releases the cross chain payment network Celer cBridge. Users can transfer value within or between any Ethereum Layer2 network, Ethereum main chain, and other Layer1 or Layer2 based on the network. CBridge is completed according to the expansion of Celer situation channel, improving the current protocol so that it can operate on multiple chains at the same time. The Celer situation channel network has already added the effect of cross chain payment of related situation channels. If you want to test this function, you need to deploy Celer Pay contracts on each EVM test chain, or deploy corresponding contracts or plug-ins on non EVM adapted chains.

As a comprehensive and comprehensive channel that can be built on the existing or future blockchain, Celer Network contains a clear hierarchical architecture that separates the complex offline platforms into various hierarchical modules. This kind of architecture can reduce the complexity of system design, development and maintenance, so that each component can easily iterate and adapt to changes.

What is the future prospect of CELR coins?

2018 is a real blockchain year, because the first battle for the holy grail of blockchain broke out in this year: 1000 yuan war, 100 chains coexist.

After nearly a year of fierce competition, although the final win or loss was not divided, the three pillars of ETH, EOS and TRON have emerged.

The core idea of the technology war at this stage is "expansion on the chain". First, improve and innovate from the consensus mechanism, storage structure, data transmission and other aspects of the blockchain itself.

However, many public chains still have a long way to go to ensure network performance and security on the basis of ensuring a certain level of decentralization.

In addition, the upgrading of products on the chain is usually related to the security of the whole network, and it is necessary to coordinate the rights and interests of all parties to reach an agreement on the nodes of the whole network. Otherwise, it is very easy to cause cell division due to consensus conflicts and interest contention. As we can learn from the past, interest groups such as Wu Beihan in the Bitcoin Continent will carry out a tough war of computing, eventually backfire on themselves, and bring Bitcoin cash to the bottom.

The project is not open source, and more key technologies need to be announced. The development is difficult, and there is some difficulty in landing.

The project is positioned as an offline scalability solution, aiming to bring the Internet scale into the blockchain. On the premise of the previous off chain solutions, it gives new technical solutions and economic models, and the simulation data of the program shows that the performance of the program has increased by an order of magnitude.

The project development team is of great strength, and has famous university researchers and famous R&D engineers as consultants, which is expected to make breakthrough progress in the level of offline scalability.

However, the situation channel also has natural limitations, for example, it is more suitable for multiple customersHigh frequency interaction, rather than low frequency interaction, which is not suitable for frequent changes of customers.

Even so, as the expansion improvement module of the public chain, the offline situation channel, once successfully broken through, will be conducive to promoting the productization of the blockchain. Everything depends on the follow-up development of the project.

Speaking of this, I believe you have a certain understanding of what CELR coins are and what their future prospects are. In general, the editor here also reminds investors that no matter whether they invest in CELR coins or not, after all, investment is accompanied by certain risks. Before entering the site, everyone must have a comprehensive understanding and not blindly invest.