Celer Network (CELR) is a layer-2 scaling platform that enables interoperability and fast off-chain transactions across various blockchains, including Ethereum and Polkadot. It provides a suite of products to support the development of decentralized applications (dApps) and offers a secure environment for their operation. The platform aims to bring blockchains to mass adoption by optimizing speed, performance, and interoperability.
Celer Network (CELR) is a layer-2 scaling platform that enables fast, secure, and low-cost transactions for decentralized applications (dApps) on various blockchains. It provides interoperability within the ecosystem and network incentives. Here are some key ways Celer Network is used:
- Off-Chain Scaling: Celer Network allows for off-chain transactions, which are faster and more cost-effective than on-chain transactions. This makes it suitable for applications that require high-speed transactions, such as blockchain-based games and decentralized finance (DeFi) platforms.
- State Guardian Network (SGN): CELR is used as a staking token in the SGN, which is a Proof-of-Stake (PoS) blockchain built on Tendermint. Validators stake CELR to participate in the network consensus and are rewarded with CELR. The SGN serves as a message router between different blockchains, offering L1-blockchain level security.
- Celer cBridge: This is a decentralized and non-custodial asset bridge that supports token transfer across multiple blockchains and layer-2 rollups. It has processed significant cross-chain asset transfer volumes and is expanding to more blockchains and layer-2s.
- Celer Inter-chain Messaging (IM) Framework: This framework supports generic message passing and cross-chain function calls. Developers can build inter-chain-native dApps using the Celer IM SDK to leverage efficient liquidity utilization, coherent application logic, and shared states.
- Layer2.Finance: This is a solution that allows users to access all existing DeFi protocols at a fraction of the cost, acting like a "DeFi Router".
- Staking and Rewards: Users can stake CELR to participate in the network consensus and earn rewards. Validators and delegators receive service fees for their services, and rewards are shared on a per-block basis.
Overall, Celer Network is designed to improve the scalability and interoperability of blockchain-based applications, making it easier for developers to build and users to access a diverse range of dApps across multiple chains.
To store Celer Network (CELR) tokens, you can use various wallets that support CELR. Here are some options:
Guarda Wallet: Guarda offers a multi-currency wallet that allows you to securely store and manage your CELR tokens. You can create an online wallet or download a mobile app for PC, Mac, iOS, or Android. Guarda is a non-custodial wallet, ensuring you have full control over your funds and personal information.
Trust Wallet: You can add CELR to Trust Wallet by searching for "Celer Network" or "CELR" in the app. If the token is listed, you can easily enable it.
MyEtherWallet (MEW): MEW offers a Celer wallet through Enkrypt, providing industry-leading security and effortless token management.
Unagii: Unagii, a node on the State Guardian Network, allows staking for CELR. Keep in mind that there is a 7-day unbonding period when you unstake.
Crypto.com: You can also stake CELR on Crypto.com, which offers a 2% APY.
Binance: Binance offers a higher APY of 13% for staking CELR.
- Metamask: You can stake CELR on the State Guardian Network through Metamask, which is a decentralized staking option.
These wallets provide secure and user-friendly platforms for managing your CELR tokens.
To buy Celer Network (CELR) tokens, you can follow these steps:
Create an Account:
- Sign up with a reputable cryptocurrency exchange like Kriptomat, Coinbase, or ChangeNOW.
- Verify your email, phone number, and identity to unlock the full potential of the platform.
Add Funds:
- Deposit funds into your account using a bank account, credit card, or other approved payment methods.
Select Celer Network:
- On the exchange platform, navigate to the "Buy" or "Trade" section and search for Celer Network (CELR).
- Select CELR from the list of available cryptocurrencies.
Enter the Amount:
- Enter the amount of CELR you want to purchase in your local currency.
- The platform will automatically convert this amount to the equivalent CELR tokens.
Preview and Confirm:
- Review the transaction details to ensure everything is correct.
- Confirm your purchase, and the CELR tokens will be added to your account.
These exchanges provide a secure and user-friendly environment to buy CELR tokens.