Celer Network

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Celer Network

The Most Advanced Blockchain Layer-2 Scaling Platform

Project Introduction:

Celer Network is an Internet-scale, trust-free, and privacy-preserving platform where everyone can quickly build, operate, and use highly scalable decentralized applications. It consists of a group of layer-2 scaling mechanisms running on top of existing and future blockchains. Celer provides unprecedented performance and flexibility through innovation in off-chain scaling techniques and incentive-aligned cryptoeconomics.

Celer Network embraces a coherent and loosely coupled architecture with clean abstractions that enable rapid evolution of each individual component, including a generalized state channel and sidechain suite that supports fast and generic off-chain state transitions; a highly efficient state channel payment routing protocol that achieves an order of magnitude higher throughput compared to state-of-the-art solutions; a hybrid rollup sidechain that offers user-tunable tradeoffs on trust, performance, and features; a powerful development framework and runtime for off-chain applications; and new crypto economic models that provide strong security, high availability, stable liquidity, and network effect for the off-chain ecosystem.

Key Features & Highlights:

  • cStack: Layered architecture with clear abstractions and interfaces. Reduces complexities in the system design, development and maintenance. Enables rapid evolution of each individual component.

  • cOS: Development framework and runtime for off-chain enabled applications. Provides common design patterns, and handles the operation, storage, tracking, and dispute of off-chain states.
  • cRoute: Provably optimal value transfer routing with transparent channel balancing. 15X higher throughput compared to state-of-the-art solutions. Fully decentralized with high failure resilience.
  • cChannel: Generalized state channel and sidechain suite. Supports fast state transitions with generic dependency DAG on networked channels. Flexible constructs to maximize liquidity utilization.
  • cEconomy: Cryptoeconomic model that provides network effect, stable liquidity, and high availability for the ecosystem. Includes proof of liquidity commitment, liquidity backing auction, and state guardian network.
  • Proof of Liquidity Commitment (PoLC): PoLC is a virtual mining process that acquires abundant liquidity for the off-chain ecosystem. Participants commit (lock) their idle liquidity (e.g., ETH) to a “dumb box” called Collateral Commitment Contract for a certain period of time with CELR token rewarded.
  • Liquidity Backing Auction (LiBA): LiBA enables off-chain service providers to solicit liquidity through “crowd lending”. Lender priorities are determined by the interest rate, the amount of provisioned liquidity, and the amount of staked CELR token (indicating their past contributions to the ecosystem).
  • State Guardian Network (SGN): SGN is a special compact sidechain that guards the states when users are offline so that the users’ states are always available for dispute; and provides connectivity oracle services to simply the on-chain dispute process. Guardians need to stake their CELR into SGN to earn guarding opportunities and service fees from the users.