A universal off-chain scaling solution for every blockchain

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Summary

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

Company overview

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)

Roadmap

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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