Read

Edit

History

Notify

Share

Celer Network

Celer Network is an Internet-scale, trust-free, and privacy-preserving platform where everyone can quickly build, operate, and use highly scalable decentralized applications. Celer provides unprecedented performance and flexibility through innovation in off-chain scaling techniques and incentive-aligned crypto-economics.

Overview

Celer Network[1] embraces a coherent and loosely coupled architecture with clean abstractions that enable rapid evolution of each component, including a generalized state channel and sidechain suite that supports fast and generic off-chain state transitions;

  • A highly efficient state channel payment routing protocol that achieves an order of magnitude higher throughput compared to state-of-the-art solution
  • A hybrid rollup sidechain that offers users tunable tradeoff on trust performance, and features.
  • New crypto-economic models that provide strong security, high availability, stable liquidity, and network effect for the off-chain ecosystem. [2]

Layer-2 blockchain scaling

Celer Network consists of a group of layer-2 scaling mechanisms running on top of existing and future blockchains. Blockchain technologies offer a foundation to dramatically expand the scope and freedom of global information sharing and value transfer.[3]

CN team envision a future with blockchain-powered decentralized ecosystems where people, computers, mobile, and IoT devices can perform secure, private, and trust-free interactions at a massive scale. [4]

Layer-1 blockchains such as Bitcoin and Ethereum are slow because each operation needs to be processed by most of the nodes to reach on-chain consensus. New on-chain consensus improvements such as sharding and various Proof-of-X mechanisms are continually getting proposed and developed. They make the layer-1 blockchains relatively faster with different tradeoffs but cannot change the fundamental limitations of on-chain consensus. [5]

Celer cryptocurrency

Celer Network’s mechanism, cEconomy, is designed based on a fundamental principle which is good crypto-economic (token) model should provide additional values and enable new game-theoretical dynamics that are otherwise impossible.

While gaining scalability, an off-chain platform is also making tradeoffs on network liquidity and state availability, and it will never take off without a crypto-economic model that can enable new dynamics to balance out these tradeoffs. [6]

See something wrong? Report to us.

Celer Network

Feedback

Average Rating

No ratings yet, be the first to rate!

How was your experience?

Give this wiki a quick rating to let us know!

Twitter Timeline

Loading...

Loading

Media

REFERENCES

Join the IQ Brainlist

Sign up for the IQ Brainlist to get early access to editing on the IQ.wiki site!

Join Now

Subscribe to our newsletter

Never miss any of the most popular and trending articles on IQ.wiki when you sign up to our email newsletter.

Subscribe

IQ.wiki

IQ.wiki's vision is to bring blockchain knowledge to the world and knowledge onto the blockchain. A part of Brainfund group

https://twitter.com/IQWIKIhttps://www.reddit.com/r/Everipedia/https://t.me/everipediahttps://www.instagram.com/iqwiki_/https://github.com/EveripediaNetworkhttps://discord.gg/x9EWvTcPXthttps://web.facebook.com/everipedia?_rdc=1&_rdr

IQ

What's IQ?StakingBonds

Company

About usCareersBrandingIQ GPTIQ Dashboard

© 2024 IQ.wiki Powered ByBrainDAO& IQ