Celer Network is a coherent technology and economic architecture to enable Internet-scale public blockchains through off-chain scaling techniques. It can scale out to billions of transactions per second, and will fully unleash the power of blockchain and decentralized applications.
Features & Highlights
Zero off-chain smart contract transaction fees
Already achieved 10,000X transaction latency reduction
Accelerates both payment and smart contracts
100X fee reduction for micro-payment on Ethereum comparing to directly transacting on Ethereum
Horizontally scalable as additional nodes join
Provably optimal off-chain payment routing algorithm
First off-chain crypto economics model to ensure safety and high liquidity
Blockchain agnostic (currently supports Ethereum, DFINITY and all EVM based blockchains)
Token Sale & Economics
- Project website: https://www.celer.network/
- Project whitepaper: https://www.celer.network/doc/CelerNetwork-Whitepaper.pdf
- Token sale start time: TBA
- Ticker: CELR
- Token type: Own Wallet
- Total hard cap: $34,7100,000
- Total supply: 10,000,000,000 CELR
- Initial circulating supply: 1,965,033,333 CELR
- Public sale token price: 1 CELR = $0.0067
- Public sale allocation: 600,000,000 CELR
- Private sale token price: 1 CELR = $0.0150
- Private sale allocation: 1,550,000,000 CELR
- Seed sale token price: 1 CELR = $0.0065
- Seed sale allocation: 1,150,000,000 CELR
Token Utility & Use Cases
The CELR token drives cEconomy, the off-chain cryptoeconomic incentive structure of Celer Network in the following ways:
- CELR serves as an incentive for maintaining a stable and abundant liquidity pool in Proof of Liquidity Commitment process.
- CELR is used in Liquidity Backing Auction to increase the priority of liquidity backing bids and therefore statistically increase the liquidity interests payout.
- CELR is used in State Guardian Network as a membership staking token to protect state availability, provide connectivity oracle and act as a dispute state transition computation engine. CELR token stakers receives service fee for the various services they provided for the network.
- CELR token can also be used to pay the service fee and transaction fee to off-chain service providers.
Roadmap & Updates
- Q1 2019
- cChannel: enhanced generalized state channels with more use case support
- cRoute: initial implementation & testing
- cOS: SDK public v2.0 release, focus on integrated flow of mobile and web
- cEconomy: PoLC and LiBA security audit, SGN testnet alpha launch
- Community: onboard third-party Apps
- Q2 2019
- cChannel: gradual Ethereum mainnet roll out and continued blockchain expansion and integration
- cRoute: test and initial deployment
- cOS: SDK public v3.0 release
- cEconomy: PoLC mainnet launch
- Community: begin to onboard off-chain service providers
- H2 2019:
- cChannel: full cross-chain interoperability
- cRoute: production measurement and optimization
- cEconomy: SGN and LiBA mainnet launch
- cOS: SDK public v4.0 release to enhance UX for real-world use cases
- Community: continue to grow Celer-enabled application ecosystem with sustainable new app adoption funnel strategy
Mo Dong, Co-founder, Mo received his Ph.D. from UIUC. He was founding engineer and product manager at Veriflow, working on network formal verification. He is an expert in applying algorithmic game theory to protocol design, and teaches full-stack smart contract courses with hundreds of students graduated. Linkedin.
Junda Liu, Co-founder, Junda received his Ph.D. from UC Berkeley. He joined Google in 2011 to build its datacenter networking infrastructure, and then was founding member of Project Fi mobile service since 2014. He was also the Android Tech Lead for carrier services, which run on more than 1.5 billion devices. Linkedin.
Xiaozhou Li, Co-founder, Xiaozhou received his Ph.D. from Princeton University. His works have been published at premier venues in distributed systems, networking, storage, and data management, and have become core components of Google TensorFlow, Intel DPDK, and Barefoot Deep Insight. Linkedin.
Qingkai Liang, Co-founder, Qingkai received his Ph.D. from MIT. His research focuses on various learning and control problems that arise in networked systems, especially on online learning algorithms in adversarial networks, which have been successfully applied in Raytheon BBN Technologies and Bell Labs. Linkedin.
Yunjia Dai, Core Developer, Yunjia received his Masters from Columbia University. He was a Tech Lead at Google display Ads infrastructure team, where he developed Ad serving stacks and tools for various products including AdSense, DoubleClick for Publisher and DoubleClick Bid Manager. Linkedin.
Yan Zhang, Core Developer, Yan received his Masters from Supélec, France. As one of the earliest and major contributors in mobile technology, he developed dozens of innovative and popular mobile products, and led an engineering team that created the world’s largest scalable mobile AR UGC platform. Linkedin.
Michael Zhou, Core Developer, Michael received his Masters from MIT. His research focused on programming models targeting massively parallel dataflow architecture. He worked at Google on compilers, static analyzers, virtual machines and development framework to support products serving billions of users. Linkedin.
Changfeng Liu, Core Developer, Changfeng Liu received CS Master degree from University of Michigan. He was a research assistant at UMich, UIUC and SJTU working on databases and data mining, and published several papers in top conferences of AI and data management fields. The algorithms designed by him have been adopted in Zenvisage, a data visualization exploration system developed at UIUC, and Acemap, an academic searching system developed at SJTU. He is also a blockchain enthusiast and an experienced developer in smart contract, and served as a teaching assistant in multiple online blockchain courses. He received National Scholarship twice during undergrad and graduated from Shanghai Jiao Tong University with honor. He filed three China patents. Linkedin.
Zixuan Wang, Core Developer, Rancho Wang received his Master's degree from Nanjing University. He has 6 years of Android app development experience. He worked as the Android dev lead for Nanjing Bank and Jiangsu Bank. He then worked as senior developer for Mogujie, a top e-commerce company in China, where he got 2 patents on a highly optimized Android Crash Protection System to maintain the crash rate of the app below 0.04% while the DAU was reaching 2 million. He has solid experience in app development, security safeguard and performance optimization on mobile devices. He is an early explorer and evangelist of blockchain technology with in-depth knowledge of smart contracts. GitHub.
Alex Wu, Designer, Alex graduated from School of Visual Arts in NYC with a Master in Design for Social Innovation because he believes our purpose is to create value for others. Prior to joining Celer Network, he had experience working at Cornell Tech, SAP, and served as design advisor at multiple startups. Linkedin.
Sirong Li, Marketing & Operations, Sirong received her Masters from University of Rochester. She is specialized in developing novel market strategies and making agile data-driven business decisions. At Ogilvy & Mather, Sirong delivered marketing campaign for Fortune 500 clients and boosted sales significantly. Linkedin.
Windy Wang, Marketing & Operations, Windy received dual degree in International Relations and International Management from Boston University. As the VP at MIT-CHIEF, she led around 50 US-based startups to get involved in the Chinese entrepreneurial community and to explore global market opportunities. Linkedin.
Christos Kozyrakis, Technical Advisor, Christos is a Professor of Electrical Engineering and Computer Science at Stanford University, a fellow of the ACM and the IEEE. He is broadly interested in secure and energy-efficient distributed systems.
Alan Mishchenko, Technical Advisor, Alan has been a Research Scientist at UC Berkeley since 2002. He specializes in building fast and scalable tools for design automation, and developing computationally efficient methods for logic synthesis and formal verification.
Shoucheng Zhang (late), Technical Advisor, Shoucheng is a Professor of Physics at Stanford University, a fellow of the American Academy of Arts and Sciences and the US National Academy of Science. He founded Danhua Capital in 2013 and serves as the Chairman.
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L4 - L4 is helping build Counterfactual, an open-source framework for generalized state channels on ethereum. Counterfactual’s goal is to make it easy for developers to build distributed applications using state channels, leading to immediate improvements in usability, speed, and cost. On August 1, L4 released the smart-contracts layer of Counterfactual.
Nervos Network - Nervos Network is a blockchain network and DApp platform built with a layered architecture. Celer is collaborating with Nervos to refine the layered blockchain architecture with a close feedback loop and has identified several key cases of cross-layer optimization and interface alignment.
QTUM - With its unique account abstraction layer, QTUM successfully bridges Bitcoin’s UTXO model with Ethereum smart contract execution. Celer is testing out Qtum’s new x86 virtual machine and comparing that with EVM and other VM architectures for off-chain scaling.
Atlas Protocol - Atlas Protocol (ATP) is an application layer protocol of tokenized marketing, aiming to define a new on-chain interactive ads paradigm. Celer is partnering with Atlas Protocol to break the technical barriers of on-chain interactive advertising by using off-chain scaling techniques.
DxChain - DxChain is the world’s first decentralized big data and machine learning network powered by a computing-centric blockchain. Celer will develop and integrate off-chain scaling solutions on top of DxChain to further boost its scalability.
500startups - After sorting through 1700+ applications, Celer Network was selected to be one of the final 22 teams joining 500 Startups’ Batch 24 in San Francisco. Celer joined the 500S’ blockchain track with a focus on accelerating growth and aiming to contribute to the development of the blockchain ecosystem globally.
Chainlink - Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Celer is working on a design pattern that combines off-chain conditional state transition with an on-chain oracle dependency. This collaboration introduces the capability to combine real-world information and layer-2 scalability.
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