Celer Network

Markus Loiola
Sep 5, 2018 · 5 min read

0. information

0.1 About ICO

Celer Network is an economical technology with a comprehensive architecture to enable public blockchain off-chain scaling techniques on the Internet. This network can scale to billions of transactions per second and will fully utilize the power of blockchain and distributed applications.

0.2 Problem

Block chains like Ethereum are slow because every operation must be processed by most nodes to reach a consensus in the chain. New on-chain consensus improvements such as sharding of any “Proof-of-X” systems are constantly being developed. These improve the performance of the blockchains many times over, but are then always associated with various fundamental restrictions. Usually the scalability of the on-chain consensus is not used correctly and many advantages are lost.

0.3 Solution

Off-chain scaling techniques allow mutually suspicious parties to use a contract locally and securely instead of the global blockchain. Participants in such a contract use fraud-proof off-chain replicated state machines and only resort to the on-chain consensus in case of discrepancy (e.g. if at least two parties disagree on the current status). Off-chain scaling will not only be an optimization, but they will be one of the few ways to realize the dApps with a better privacy and a compromise Free environment of trust and decentralization. It will be the turning point for the mass adoption of blockchains.

1. Team, Advisors, Partners & Investors

1.0 Team

Core Members

1.1 Advisors

1.2 Partners & Investors

2. Structure / Concept

Celer Network is a protocol that can be used on an existing or new blockchain as between layers to keep the complexity of the structured architecture simple. The Celer Network itself has several layers that replace all “proof-of-xy”, making it easier for the user/creator. The in-house concept ensures that the applications can run on off-chains by default and that the on-chain is only loaded if there are discrepancies. This guarantees that the on-chain is not overloaded and a high scalability as well as a system optimized for speed that is protected against fraud at the same time.

As already mentioned, the Celer Network has its own layers that are used for various purposes. In the following picture the different layers are mentioned again.

cStack-Layer:

A multi-layered architecture with clear separations and interfaces. This reduces the complexity of system design, development and maintenance. It enables rapid development of each individual component.

cChannel-Layer:

The cChannel is a generalized state channel and side chain suite. It supports fast state transitions with universal dependency of the DAG on networked channels. It is also a flexible structure to maximize liquidity utilization.

cRoute-Layer:

The cRoute layer is a verifiable value transmission routing with transparent channel alignment. It should have a 15x higher throughput compared to modern solutions. At the same time, it is fully decentralized and highly fail-safe.

cOS-Layer:

The cOS is the development framework and runtime for off-chain capable applications. It provides common design patterns and takes care of the operation, storage, tracking and resolution of off-chain states.

cApps-Layer:

The cApps layer is an application ecosystem that operates on the Celer network. This layer lets you scale to billions of private off-chain transactions per second without compromising on trust or decentralization.

eEconomy-Layer:

The eEconomy layer is the crypto-economic model that offers network effects, stable liquidity and high availability for the ecosystem. Including proof of liquidity, liquidity auction and state guardianship network, it offers all necessary precautions to ensure that the user of the protocol is on the safe side.

3. Product

Because the product is a service, the source code on Github is visible through the following link: https://github.com/celer-network

4 Financial

4.1 Token-Sale:

Tokens for Sale: TBA

Softcap: TBA

Hardcap: TBA

Token-Sale Date: TBA

4.2 Token-Metrics:

Ticker Name: CELR

Total Number of Tokens: 10 billion

4.3 Token Distribution:

30%: PoLC mining reward, Off-chain ecosystem building

30%: All token generation event

20%: Team and advisors (2-years-vesting)

20%: Foundation reserve (2-years-vesting)

5. Whitelist / KYC

Whitelist: TBA

KYC: TBA

6. Transparency

The structure and structure of the Celer network is very transparent, the source code is freely available on Github and every important point is discussed in the whitepaper. The FAQ explains the most important points of the project to the visitor of the website in a simplified form. The clear structure on the website also shows the seriousness of this company.

7. Risk Level

An investment in this project is considered a low risk.

8. Additional / Special

The Celer network has already entered into several different partnerships with companies that recently or some time ago conducted an ICO themselves. In the following two links you will find 2 interesting partnerships, one of them is again Quarkchain.

https://medium.com/celer-network/partnership-announcement-qtum-7b0202bdf2ab

https://steemkr.com/quarkchain/@quarkchain/quarkchain-and-celer-network-partnership

9. Conclusion

Celer Network is an economical technology with a comprehensive architecture to enable public blockchain off-chain scaling techniques on the Internet. This network can scale to billions of transactions per second. Off-chain scaling techniques allow mutually suspicious parties to use a contract locally and securely instead of the global blockchain. Participants in such a contract use fraud-proof off-chain replicated state machines and only resort to the on-chain consensus in the event of inconsistency. The Celer network has already entered into several different partnerships with companies that recently or some time ago conducted an ICO themselves. This should reduce the risk of a flop. Through partnerships with experienced ICO investors, this ICO should run smoothly.

 by the author.

Markus Loiola

Written by

Blockchain enthusiast and ICO consultant / specialist 💠 Become a blockchain & cryptocurrency expert 📲 DM to finally earn money with crypto

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