Celer Network is a cutting-edge layer-2 scaling solution designed to revolutionize the way blockchain networks communicate, enabling fast, low-cost, and scalable transactions across chains.
Celer Network utilizes an advanced multi-layered architecture, known as **cStack**, to enhance scalability and interoperability across blockchain networks. The architecture includes:
The bottom layer that supports off-chain transactions and smart contract interactions.
A payment routing module using Distributed Balanced Routing (DBR) for optimal throughput and channel balancing.
A framework for building scalable off-chain decentralized applications (DApps).
The **CELR token** is the utility token of the Celer Network, with the following uses:
Users can stake CELR to participate in network security and earn rewards.
CELR is used to pay for transaction fees within the network.
Token holders can participate in governance decisions affecting the Celer Network.
Celer Network features several unique elements that set it apart in the blockchain space, including:
A proof-of-stake blockchain based on Cosmos, overseeing smart contracts across different chains.
A system enabling seamless communication between blockchains for improved interoperability.
Efficient cross-chain value transfers that allow for smooth asset movement between different blockchains.
Celer Network provides a fast, scalable, and low-cost layer-2 solution that enhances the performance of decentralized applications and facilitates seamless cross-chain interactions. With its innovative architecture, Celer is addressing the scalability challenges of blockchain technology and driving forward the evolution of decentralized finance (DeFi).