The score reflects the overall worthiness of the blockchain's ecosystem, as determined by regular monitoring and collective reviewing of the ecosystem.
Database maintenance is now complete on 30th July
The maintenance is now complete on 20July 2022
Database maintenance on 30th July(3AM to 7AM EST)
Celo was down for more than 13 hours on July 13, 2022
Foundation Tools score is increased as programming languages are added.
The documentation score is increased as validator nodes are added.
Adoption score increased as GitHub commits were added.
Add-Ons score increased as swapping tools were added.
The score depicts the network's performance rating based on metrics like avg TPS, nodes, gas fees, and uptime.
|PERFORMANCE MATRIX||VALUE||MONITORED AT|
|Gas Fee||163,215 gwei|
|Write Speed||1 ms|
|Read Speed||934 ms|
|Node Count||108 nodes|
|Reddit Total Members Online||22 members|
|Reddit Total Members||7,700 members|
|Discord Total Subscribers Online||1,251 subscribers|
|Discord Total Subscribers||38,909 subscribers|
|Telegram Err||0 err|
|Telegram Ppm||0 ppm|
|Telegram Views Per Post||0 views|
|Telegram Total Subscribers Online||418 subscribers|
|Telegram Total Subscribers||10,764 subscribers|
The score represents the development support the protocol offers to developers in terms of tools and resources.
he score is derived by considering the documentation support offered by the protocol to help developers better understand the protocol's ecosystem.
The score reflects the protocol's progressiveness in allocating funds to support the developers who are building on top of the blockchain.
The score reflects how equipped is the protocol's ecosystem with add-on tools like code editors, IDEs and security
THIRD PARTY SERVICES
THIRD PARTY SERVICES
The score reflects the protocol's ability to provide third-party services such as Oracle integration, API management, and cloud services.
THIRD PARTY SERVICES
It reflects how well the protocol's support system works in terms of communication tools, DAO rating, development community size, and stack exchange, among other things.
It indicates how widely the protocol has been adopted in the industry, taking into account aspects such as the
number of developers that are using it and the number of transactional values.
The score depicts the protocol's overall responsiveness toward its members in online communities like Discord,
Telegram, Slack, Linkedin, etc.
With the world witnessing the power of digital transformation, technologies like blockchain and cryptography have been gaining huge traction. Talking specifically about cryptocurrency, it offers various advantages compared to fiat currencies like cost-effective transactions, data privacy, security, etc. However, cryptos are yet to benefit from their mainstream adoption as a payment. The two common barriers to crypto adoption are unpredictable coin demand and price volatility.
For a cryptographic payment to be seamless, systematic and successful- transaction processing should be quick and straightforward as sending messages. CELO protocol addresses the existing issues related to cryptographic social payments, such as complexities in sending payments and volatility of coin value. Also, the protocol allows the users engaged in transactions to become validators through a mobile block reward mechanism. Together, CELO introduces a viable solution to the challenges of social payment by offering a compelling DeFi protocol.
CELO is a proof-of-stake (PoS) layer-1 blockchain protocol designed to support the creation, issue and management of stable-value assets in its open ecosystem. These Stablecoins are collateralized with cryptocurrencies and natural assets. GGLD is the native currency of CELO, which has two major use cases- utility token and governance token.
As an open-source project, CELO enables anyone to utilize its built-in minted Stablecoins besides enabling developers to utilize the CELO ecosystem to build custom dApps and payment-related decentralized solutions. CELO is mainly focused on easing mobile users' social payment approach, and it enables users to send, receive, store and trade Stablecoins that exist on GGLD via their smartphones.
CELO's architecture consists of the following three core layers:
An open-source blockchain protocol supports the development and deployment of decentralized applications and runs smart contacts in a fully decentralized approach.
Set of smart contracts that include logic for the CELO network's features. These contracts are easy to upgrade and manage, corresponding to the development requisites of dApp and blockchain-powered.
Features ready-to-use applications for end-users built and running on the CELO ecosystem like CELO wallet app. Furthermore, this applications layer is open to everyone, enabling the creation of CELO-based dApps.
Consensus mechanism of CELO
CELO adopts a proof-of-stake consensus mechanism that helps the protocol select active validators from the nodes and determines their incentive to improve security and scalability across the network. CELO's active validators list is consistently updated within a fixed period, generally in 24 hours.
Key Features of CELO
Supports the creation of various Stablecoins like USDC, cUSD, and cEUR. Also, it allows users to access the protocol's stable-value assets via mobile devices.
Phone number mapping
Maps users' phone numbers to public keys to authenticate their identity and enable them a seamless mobile experience. This phone number mapping approach is further useful for making payment on CELO as the sender can verify the receiver's address simply with the phone number.
Facilitates the development of decentralized applications with cross-chain capabilities that can interact with other dApps running on a different, independent chain.
Full EVM compatibility
Provides complete support to Ethereum-based tools, smart contract functionality and EVM (ethereum virtual machine) to help users easily create ERC tokens and port their existing Ethereum dApps to the CELO ecosystem.
Multi-currency gas payment
Accepts gas fees in different Stablecoins, making sending and spending on its ecosystem easier and cost-efficient for everyone.
Who are the founders of CELO?
Rene Reinsberg, Marek Olszewski and Sep Kamvar are the founders of CELO. Reinsberg has been an executive at GoDaddy, Olszewski has been both executive at GoDaddy and a Google executive and Kamvar is an MIT professor. They launched the project in 2017 with the vision to establish a truly decentralized and inclusive global financial system.