Just heard about the CELR Token and looking for a Celer Network ICO Review? You’ve come at the right place! Let’s look at a few details of this upcoming Celer.Network ICO and discover if it’s something we should look into the future or not.
Just like the others, you’re just as intrigued if this is going to work out or fail out of business. Well it hasn’t officially opened or launched yet, but it’s already making the buzz over the crypto currency world.
- 1 Celer Network ICO Review : What’s With Celer Network And Why It’s Making The Buzz?
- 2 What’s In The Celer Network That Would Make It Work?
- 3 What Is CELR Token? Celer.Network ICO Token Review :-
- 4 Who Invented Celer Network ICO?
- 5 PROs and CONs of Celer Network ICO
- 6 The Final Word for Celer Network ICO Review :-
Celer Network ICO Review : What’s With Celer Network And Why It’s Making The Buzz?
As soon as you open Celer.network review website, you will see their blazing motto – Bring Internet Scale to Every Blockchain. Interesting right?
Celer Network ICO is a soon-to-be platform that will enable internet-scale block-chains through off-chain techniques. It claims the capacity to perform billions of transactions per second because it is trust-free and highly usable by decentralized applications.
So, what does that mean? It means that the applications developed and those that will be developed later can communicate and transact off-chain with limited or wanted parties only.
It means there is no need to involve thousands of blockchains in every transaction at all levels but only on needed ones, making the transactions faster and easier. Off-chain scaling techniques allow two people who enter into a digital contract to transact just between them instead of the entire global network.
The Celer Network Token is not a standalone blockchain but a generic one that is running on top of the existing blockchains.
What’s In The Celer Network That Would Make It Work?
It has its called “c” layers, levels and methods which is associated to the Latin world “Celeritas” that means the speed of light in vacuum. So, the Celer Network ICO has the cStack, an off-chain technology stack which they claim can be built in any kind of blockchain.
Now this cStack is a multi-layered architecture namely from the bottom – cChannel, cRoute, cOs and cApps.
cChannel is a generalized state channel that supports fast state transitions and maximizes liquidity utilization.
cRoute is a protocol used to route generalized states like conditional payments between users using the off-chain technology.
cOS is the off-chain operating system, the development framework and runtime for scalable off-chain dApps or cApps (in Celer terms) that handles the operation, storage, and tracking.
cApps is the network’s application ecosystem where scalability is projected and trust-free transactions are enacted. Celer Network Token have already created their first off-chain cApp – the cGomoku.
They have created the game to demonstrate how off-chain communication is faster than being “on-the-chain”. They have also shown how to convert their on-the-chain currency in their sample, cETH to an off-chain balance that is used in the game.
Celer Network’s cStack is their technology that would take your currency off and on the chain. It is where the secured trust-free communication and transaction will occur, provided digital contracts have been agreed between the different parties who would transact off the chain.
This is where the faster transaction happens and this is the point where Celer Network ICO believes it would change the future of off-chain blockchain technologies. Should there be no issues that would arise in their roadmap and development.
This is something that would really open another space for innovations and creative ideas.
What Is CELR Token? Celer.Network ICO Token Review :-
This will soon be the value that will play between the Celer Network. To complete their off-chain scaling solution, Celer Network review website introduces cEconomy, its cryptoeconomic mechanism.
A good cryptoeconomic token should provide additional value and have the capacity for different dynamics that would allow it to grow and earn in the platform. CELR Token has three (3) components:
- Proof of Liquidity Commitment (PoLC): Is Celer’s virtual mining process where one needs to commit or lock their idle liquidity for a certain period of time to earn CELR token rewards.
- Liquidity Backing Auction (LiBA): Allows off-chain service providers to crowd lend and earn by interest rates. The lenders are rank or prioritized when they lend more CELR tokens.
- State Guardian Network (SGN): This is a sidechain that offers to guard those that go offline for security of their liquidity. CELR Token holders need to stake their tokens in order to earn guarding opportunities and services fees.
These provide more opportunities for investors to earn and grow their CELR Tokens.
Who Invented Celer Network ICO?
There are four (4) co-founders as they claim in the website. Celer Network ICO is currently based in California, but no detailed information of the complete team.
A few of the founders have publicly spoken and can be seen in their reviews and videos in their official Twitter account. Shown below are short biographies of the founders as shown in the website.
Also shown in the website are advisors of the project that shows a professor in Stanford University, a research scientist in UC Berkeley and the founder of Danhua Capital. Investors in the project are Pantera, DHVC, FBG Capital and STABLE.
The credentials of the founders and the advisors as well as the investors seem to be legit and serious about this project. We are excited to see this platform once it is available and ready.
PROs and CONs of Celer Network ICO
This off-chain technology of Celer Network will obviously provide many possibilities and innovations. Faster transactions and cApp usage can be very much seen now even if it’s a work in progress.
With the team’s background and history, it seems like there is no stopping at its development. At present, many could see Celer Network Initial Coin Offering already being at a more efficient state channel than the others being currently developed. This can be integrated to any blockchain and can be seen as a continuous project. Something that will not die in the near future.
As for its possible problems, there are off-chain scaling that has already failed and are failing as we speak. Though the Celer Network ICO reviews has distinguished itself as different from these failing ones, we can never really say. Also, there are currently no business developments or strategies that have been provided yet. If one looks at this for mass usage, then that is critically needed.
The Final Word for Celer Network ICO Review :-
This is a promising Celer.Network ICO and a great step to technological advancement should it finally be put to use. Being an anticipated ICO, we encourage everyone to keep tab on their road-map:
Get yourself updated until they finally launch and open the CELR Token for investing. Visit celer.network ICO reviews quarterly and watch out for anything new.