Celer Network (CELR) Review
An independent review of Celer Network (CELR)
A universal off-chain scaling solution for every blockchain
Celer Network is a layer-2 scalable solution that operates on top of existing blockchains. The technology uses off-chain scaling techniques to achieve billions of TPS (transaction per second) in a trusted and secured environment. Its ability to provide immense performance and flexibility allows users to easily build, operate and use highly scalable dApps (decentralised applications).
Updates from the previous report (11 Jul 2018)
•Upgraded our rating for Celer Network from 4 stars to 4.5 stars
•Specified token sale details on Binance Launchpad
•Updated roadmap and milestones achieved
•CelerX (known as cWallet) Beta launched in Feb 2019 on IOS and Andriod, which was only an MVP previously
•Achieved 20,000X reduction on transaction latency
•Celer had established a business operations team and extensive partnerships since the previous report
Celer Network is based in the US with an objective of bringing internet scalability to all blockchains. By resolving issues related to the value of transfer and the limitations of on-chain consensus such as bottlenecks and privacy, Celer’s platform will help to achieve the much-needed scalability for blockchain technology. The system can be easily integrated into existing or future blockchain, allowing them to achieve higher throughput and privacy.
Commercial & Technical Strategy
Celer uses an off-chain technique, allowing parties to execute contracts in a trustless environment. The team is a strong advocate of this methodology as they believe it is more efficient in supporting the scalability of dApps. Celer Network encompasses a full-stack architecture, named cStack, which is broken down into 4 distinct modules. Each module fulfils a typical function and has the flexibility to adopt new implementations or changes when necessary.
cChannel – The foundation layer that interacts with the blockchain and upper layers. Uses both state channel and sidechain techniques, which are important for off-chain scaling.
cRoute – Utilizing Distributed Balanced Routing (DBR) to distribute payment traffic, achieving 15x higher throughput as compared to existing solutions. DBR mediates the mediocre performance of “shortest path routing” algorithms and improves channel balancing, decentralisation, resilience and privacy.
cOS – The off-chain dApp operating system that runs on development framework (SDK) and runtime system, allowing developers to build and operate off-chain dApps easily.
cEconomy – An economic model to balance the tradeoffs between off-chain scalability against liquidity and availability. The goal is to create network effect and provide stable liquidity throughout the system using 3 crucial components:
•Proof of Liquidity Commitment (PoLC)
•Liquidity Backing Auction (LiBA)
•State Guardian Network (SGN)
The project team has been focusing on developing the technology, and establishing partnerships for the past 7 months. On the whole, the team has met their roadmap deliverables on time and were ahead of schedule in several of their intended milestones. Also, the team has been busy attending meetups, events and developer conferences in the prior months.
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