What is Celer Network (CELR)? | CELR Coin Explained in Under 60 Seconds

Celer Network (CELR) is a layer-2 blockchain scaling platform for secure off-chain transactions, and the development of highly scalable blockchain applications.

The Celer Network is powered by its native utility token CELR. CELR coin is used for transactions, State Guardian Network participation, and other layer-2 services.

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Interoperability - As a platform-independent layer-2 scaling solution, Celer Network can operate across various layer-1 blockchains that support smart contracts.

Layer-2 Scaling - Celer Network transactions are moved to the layer-2 off chain systems instead of broadcasting through a consensus process. This allows horizontal scaling, faster speed, and better performance.

The Celer State Channel provides the network with frictionless bridging of multi-chain & cross-layer assets, instant transaction settlement, and real-time interaction.

Celer Rollup is a separate (faster) rollup chain linked to layer-1 blockchain that stores its own data & makes computations, enhancing layer-1 blockchain scalability for DeFi & other applications.

The Celer State Guardian Network is the decentralized watch tower layer that enhances user experience and provides security for State Channel & Rollup components.

WEBSITE: https://www.celer.network/