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What is Celer Network (CELR)?
Celer Network (CELR) is the native token of the Celer Network, a layer-2 scaling platform that facilitates interoperability and faster transactions across multiple blockchains. CELR tokens incentivize network participation and power functionalities within the Celer ecosystem.
Key Features of Celer Network (CELR)
- Blockchain Interoperability: Celer Network allows seamless communication and asset transfer between different blockchains, promoting a multichain future.
- Layer-2 Scaling: Celer utilizes off-chain computations to improve transaction speeds and scalability for blockchain applications.
- State Guardian Network (SGN): CELR token holders can participate in the SGN, securing the network and earning rewards.
- Celer IM & cBridge: Celer offers Celer Inter-chain Messaging (IM) for inter-dApp communication and cBridge for cross-chain asset transfers, both powered by CELR.
Uses of Celer Network (CELR) Token
- Network Staking: Users can stake CELR tokens to contribute to the security of the SGN and potentially earn rewards.
- Transaction Fees: CELR tokens are used to pay transaction fees on Celer-powered applications and bridges.
- Governance (Potential): In the future, CELR token holders might have voting rights on proposals shaping the Celer Network’s development