• Remittances: Like Ripple and Stellar, Celo enables cross-border remittances at a low cost, allowing users to send money anywhere in the world seamlessly.
• DeFi: The Celo network houses DeFi apps, including DEXs and stablecoins, contributing to the larger DeFi ecosystem that is growing rapidly.
• CELO token: CELO token, the native token of the ecosystem, facilitates all transactions within the network and enables token holders to participate in governance.
• Proof of Stake (PoS) consensus mechanism: Celo uses a PoS consensus mechanism, which is more energy-efficient compared to Proof of Work (PoW). PoS also allows users to earn rewards by staking their CELO tokens.