11 Jul 2018
ICO date: July 2018 Website
Celer Network is a scalable solution that operates on top of existing blockchains. The technology uses off-chain scaling techniques to achieve billions of TPS (transaction per second) in a trusted and secured environment. Its ability to provide immense performance and flexibility allows users to easily build, operate and use highly scalable dApps (decentralised applications).
Celer uses an off-chain technique, allowing parties to execute contracts in a trustless environment. The team is a strong advocate of this methodology as they believe it is more efficient in supporting the scalability of dApps. Celer Network encompasses a full-stack architecture, named cStack, which is broken down into 4 distinct modules. Each module fulfils a typical function and has the flexibility to adopt new implementations or changes when necessary.
cChannel – The foundation layer that interacts with the blockchain and upper layers. Uses both state channel and sidechain techniques, which are important for off-chain scaling.
cRoute – Utilizing Distributed Balanced Routing (DBR) to distribute payment traffic, achieving 15x higher throughput as compared to existing solutions. DBR mediates the mediocre performance of “shortest path routing” algorithms and improves channel balancing, decentralisation, resilience and privacy.
cOS – The off-chain dApp operating system that runs on development framework (SDK) and runtime system, allowwing developers to build and operate off-chain dApps easily.
cEconomy – An economic model to balance the tradeoffs between off-chain scalability against liquidity and availability. The goal is to create network effect and provide stable liquidity throughout the system using 3 crucial components:
Proof of Liquidity Commitment (PoLC)
Liquidity Backing Auction (LiBA)
State Guardian Network (SGN)