What Is Celer Network?

Sep 28, 2022
4 min read

This blog post will cover:

  • About Celer Network (CELR)
  • Where did Celer Network (CELR) come from?
  • What are the advantages of Celer Network (CELR)?
  • What are the disadvantages of Celer Network (CELR)?
  • How to buy Celer Network (CELR)?

About Celer Network (CELR)

Celer is a blockchain interoperability protocol giving people the ability to access assets, NFTs, decentralized finance and GameFi as well as govern across various chains. Devs can create inter-chain native decentralized applications via Celer Inter-chain Message SDK. Customers of such dApps get the advantages of the diverse multi-blockchain system, and it’ll be as simple as the single-transaction UX, all from one chain. 

Celer has 3 core products: 

  • State Guardian Network, serving as a message channel between various blockchains. 
  • Celer cBridge, a decentralized asset bridge maintaining more than a hundred coins within over thirty blockchains and layer-2 rollups. 
  • Layer2.Finance allows people to get access to all the DeFi protocols at a fraction of the cost. It acts as a DeFi Public Transportation System. 

CELR is a protocol token made for staking in the SGN in order to guarantee the safety of the economy of Celer IM. 

Where did Celer Network (CELR) come from?

Celer Network was established in 2018 by Computer Science PhDs. They wanted to achieve the mass adoption of blockchain tech. 1 year later, Celar started the world’s 1st Generalized State Channel Network on mainnet. It gave users a chance to interact with each other in real time via the same blockchain and support scalability. 

Nowadays, the team of Celar is aiming for the same goal, but with a well-developed network.

What are the advantages of Celer Network (CELR)?

  • Experienced team. The founders of Celar Network are well-experienced blockchain engineers each having a PhD and definitely knowing how to develop a stable working ecosystem able to overtake some competitors' concepts.  
  • Loyal community. Celar Network has a good reputation among the crypto enthusiasts due to its innovative idea. This may well affect the future of the project.

What are the disadvantages of Celer Network (CELR)?

  • Token price. It seems to be quite low now. At this very moment, CELR is $0.015 and is facing a price drop, as many other cryptocurrencies do. The all-time high of CELR is $0.198, and that’s not much, too. However, this point might be temporary. 

How to buy Celer Network (CELR)?

If you have decided to buy CELR token, you might visit the SimpleSwap homepage. Get acquainted with our guide to purchase CELR:

  • Let's assume you would like to exchange BTC for CELR. Choose the currency you want to exchange (BTC) in the first drop-down list. Insert the amount you’d like to swap.
  • Select CELR in the second drop-down list. You will see the estimated amount that you will get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. CELR will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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