Although the blockchain offers a lot of functionalities to people which weren’t available before, it lacks scalability. This means that as transaction volumes increase, the network won’t be able to take the load efficiently, resulting in delays and bottlenecks. The Celer Network tackles this problem specifically.
The Celer Network is what is known as a ‘layer-2 scaling solution’ – a network that operates on top of existing blockchains. The project focuses on increasing scalability as one of its main objectives. The founders believe that in-house solutions for individual networks like Ethereum will not be a viable option for explosive blockchain growth and that the Celer Network is an alternative.
The CELR network is built on the following four elements:
Ever since its launch in March of 2019, CELR has proved to be a very promising cryptocurrency in terms of price appreciation. The coin hit its all-time high at $0.2 in September of 2021. What’s interesting is that that price is a result of a 4000% rally in 2021, starting from approximately $0.005!
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Celer Network is a layer-2 scalability solution that works on top of existing blockchain networks to increase transaction rates and enhance scalability.
759 Cr. CELR
71% Buy 29% Sell
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