Celer Network

Celer Network functions as a blockchain interoperability protocol that provides a one-click interface for users to interact with tokens, DeFi, GameFi, NFTs, governance mechanisms, and other services across various chains. By utilizing the Celer Inter-chain Messaging Framework, developers are able to construct inter-chain-native decentralized applications (Dapps) that benefit from efficient liquidity usage, consistent application logic, and shared states. Consequently, individuals using Dapps powered by Celer can access the advantages of a varied multi-blockchain environment while experiencing the ease of a single-transaction user experience, all initiated from one chain.

A group of engineers with deep technical expertise established Celer Network in 2018. The four co-founders all possess PhDs in Computer Science from institutions such as MIT and UC Berkeley, and each has prior experience at major technology firms.

• Dr. Mo Dong earned his PhD from UIUC. He served as a founding engineer and product manager at Veriflow, focusing on network formal verification. He specializes in using algorithmic game theory for protocol design and instructs full-stack smart contract classes that have graduated hundreds of students.
• Dr. Junda Liu obtained his PhD from UC Berkeley. He joined Google in 2011 to develop its datacenter networking infrastructure and became a founding member of the Project Fi mobile service in 2014. He also acted as the Android Tech Lead for carrier services, which operate on over 1.5 billion devices.
• Dr. Xiaozhou Li completed his PhD at Princeton University. His research, published in top venues for distributed systems, networking, storage, and data management, forms core parts of Google TensorFlow, Intel DPDK, and Barefoot Deep Insight.
• Dr. Qingkai Liang received his PhD from MIT. His work centers on learning and control issues in networked systems, particularly online learning algorithms in adversarial networks, which have been implemented at Raytheon BBN Technologies and Bell Labs.

Celer Network transforms the construction and usage of multi-blockchain decentralized applications. Rather than maintaining separate, isolated smart contract instances across various chains, developers can create inter-chain-native dApps that feature shared states, consistent application logic, and optimized liquidity use. This allows users to access a varied multi-blockchain environment through a simple single-transaction user experience, eliminating the need for complex manual steps across different networks.

To achieve smooth interoperability, Celer combines smart contracts deployed on individual chains with the State Guardian Network, which is a blockchain based on Tendermint. When a user or dApp wishes to send a cross-chain message or call a smart contract function, they submit their intent as a message containing arbitrary binary payload and a structured header to a Message Bus smart contract on the originating chain. The State Guardian Network validators then establish consensus regarding the message's existence while simultaneously producing a stake-weighed multi-signature attestation. An Executor subscribed to the message relays this attestation to the target chain. There, the corresponding Message Bus contract verifies the message's validity and executes the associated logic, either instantly or following a timeout period.

The total supply of CELR is capped at 10 billion tokens, allocated in this manner: 33% for Sale; 25% for PoLC mining rewards and off-chain ecosystem development; 20% for the Team (18.3%) and Advisors (1.7%); 17% for the Foundation; and 5% for Marketing & Ecosystem.

Built on the Ethereum blockchain as an ERC-20 token, CELR supports the network economy through several functions:

• Staking CELR within the State Guardian Network (SGN) to become a State Guardian, which involves monitoring status, handling disputes, and ensuring security and efficiency.
• Staking or delegating CELR to SGN nodes to earn PoS staking rewards and transaction fees generated by Celer cBridge and Celer IM-based inter-chain dApps.
• Taking part in network governance voting.

The Celer Network relies on the State Guardian Network (SGN), a decentralized Proof-of-Stake blockchain that acts as a message router linking various blockchains. SGN enables general message passing and cross-chain fund transfers while delivering PoS security, fast finality, and low costs for dApps built on Celer.

To ensure code integrity, Celer has undergone three distinct smart contract audits performed by CertiK, PeckShield, and SlowMist. Additionally, the project maintains a $2 million bug bounty program on Immunefi to incentivize whitehats and the community to help secure and enhance the network.

You can currently trade Celer Network (CELR) on major exchanges including Binance, Gate.io, Bithumb, OKEx, Crypto.com Exchange, WazirX, AscendEX (Bitmax), CoinDCX, MXC.com, Bitay, DigiFinex, BKEX, AEX, BiKi, Hotbit, HitBTC, TOKOK, Uniswap V2, TOCENCAN, DragonEX, and ZT.

The initial token sale occurred in March 2019 via the IEO platform Binance Launchpad. As of June 2021, the most liquid trading pairs for CELR on Binance are CELR/USDT, CELR/BTC, CELR/BUSD, and CELR/BNB.

The Celer Network relies on its own blockchain, the State Guardian Network (SGN), for support and security. This system utilizes a variation of Proof-of-Stake (PoS) consensus known as Delegated Proof of Stake (DPoS). Under this algorithm, participants can stake their coins to earn rewards while assigning transaction validation duties to "delegates."

Built on Tendermint, the Celer State Guardian Network (SGN) functions as a message router connecting various blockchains. To participate in the SGN consensus process, validator nodes must stake CELR tokens. This staking mechanism is a fundamental component ensuring the economic security of the Celer Inter-chain Messaging Framework. Users are required to pay fees to the SGN for message routing services and multi-signature attestation storage. These usage fees, combined with block rewards, are distributed to CELR stakers and validators in exchange for securing the network.

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