Introduction
The purpose of this article is to introduce CELO Coin as a fast, secure, and stable platform to increase cryptocurrency adoption among smartphones helping users to make digital transactions using their smartphones by the Celo network. Then try to introduce the founders and sponsors of this platform and highlight its goals, roadmap, and applications. Finally, we will discuss the markets, exchanges, and wallets where you can buy, sell or hold this coin.
What Is Celo (CELO)?
CELO is a platform that acts as a cryptocurrency payment infrastructure, targeting mobile users, using your phone number as your public wallet key to transfer money to phone contacts. There are billions of smartphone users around the world today, but only a small fraction of these people use cryptocurrency.
In many countries, banking and financial management systems are unreliable or non-existent. CELO is a blockchain that hosts smart contracts and decentralized applications that allow users to access decentralized financial facilities (DeFi) and instant trading without intermediaries. The platform uses its cryptocurrency called CELO for its network gas fee as well as voting on the protocol governing the CELO platform. One of CELO’s initial approvals was to reduce carbon emissions to make its PoS network the first carbon-free blockchain.
What Makes Celo Unique?
The platform focuses primarily on addressing the problem of public access to financial services. 1.7 billion people worldwide do not have access to financial services, which makes it difficult to pave the way for the financial well-being of communities. The creators of CELO believe that this platform can be the first step to achieving a complete and robust system to solve this problem. Exploring CELO’s target markets has led to key features of the platform, including the ability to pay with fixed currency, user-friendly design for wallets, and low internet consumption.
CELO plays a key role in maintaining the performance of the CElO platform and, like any other currency, it can be sent, received, held, and invested. By owning and investing in CELO coins, users can vote on any change in the network while the value of each vote is commensurate with the amount of CELO they invest in, and participants are rewarded for doing so from the network.
Applications of CELO Network
CELO applied two native tokens to execute operations on its blockchain. CELO is a governance asset for voting on changes to the protocol, and CELO Dollars (cUSD), a stable coin mirroring the value of the US dollar. The price of the native CELO is directly related to the stable coin of its platform , cUSD. The price of cUSD is balanced with the price of CELO to keep this stable coin equivalent to 1 US dollar. This equilibrium means that as the number of CELO users and transactions increases, the CELO price will increase and the cUSD can be sold at a CELO equivalent value and vice versa. In the future, Celo intends to allow the holders of This governance asset to propose and vote on the creation of stable coins that reflect the value of other national currencies such as the Euro or the Yen.
In addition to financial payments, CELO will support the development of decentralized applications including programs that allow individuals to participate in startups and investment platforms for social progress. Users who want to know the current status of the project and receive the latest updates about the Dapps built on it can visit the official CELO website for more information.
The CELO network relies on three components:
1. Light Clients: CELO network applications that run on the user’s mobile devices, such as the CELO mobile wallet.
2. Validator Nodes: Computers that participate in collective CELO mechanisms, verify transactions and generate new blocks.
3. Full Nodes: Computers that act as a bridge between authentication nodes and mobile wallets receive Light Clients requests and send transactions to authentication nodes.
Who Are the Founders of CELO?
CELO was founded in 2017 by Rene Reinsberg and Marek Olszewski, CEOs of GoDaddy web hosting company, along with Sep Kamvar, MIT professor and Google CEO. Between 2018 and 2020, Celo earned more than $ 46.5 million in private and public coin sales, with sales of approximately 120 million coins. Notable investors in the platform include a16z Crypto, General Catalyst, and Social Capital. Celo is supported by more than 100 companies and individuals, including global corporations, NGOs, mutual funds, academics, and professionals in a wide range of fields, all of which contribute in a unique way to achieving the Celo Welfare Mission for All. CELO had a global launch program that targeted more than 20 countries by the end of 2020. Most importantly, the Celo community is moving forward to solve real problems, including lack of access to stable currencies, heavy remittances, and money transfer schemes.
CELO Market, Where Can You Buy Celo (CELO)?
Digital Wallets for CELO:
1. Valora (Android and iOS with phone number support)
2. CELO Wallet (desktop)
3. CELO Terminal (desktop)
4. MetaMask (Android, iOS and Chrome)
5. Abra (Android and iOS)
6. Opera (desktop and Android)
Also, among the applications designed on the Celo network, the following can be mentioned:
Also, among the applications designed on the Celo network, the following can be mentioned:
2. Moola :CELO based lending and borrowing platform
3. impactMarket : Donate cUSD to small businesses and people in need
4. Moss : Reduction of carbon pollution by cMC02 based on Ubeswap
5. Doni : Collecting public donations with cUSD
Current Value and Price Prediction Since the beginning of 2021 , the price of CELO has seen many upward movements, which is more than the previous year. Also, these fluctuations are immediately accompanied by corrections. With that in mind, CELO has a competitive market in 2021.If this uptrend continues, CELO will reach $ 15 by the end of 2022. In the first half of 2022, it will show rapid growth up to $ 25, then this uptrend will slow down, But no big falls are expected. The level of participation and development, reaching the value of $ 15 is an optimistic forecast, but it
CELO Market, Where Can You Buy Celo (CELO)?
CELO can be traded in almost all exchanges, the most important of which are the above.
Conclusion
In this article, we tried to examine the CELO network and its native token, CELO and cUSD . This platform is one of the most reputable and powerful blockchain companies in the industry and with its experienced team has been able to achieve high profitability. With the help of a great community, it has been able to become one of the most growing platforms in the field of blockchain by introducing new applications and increasing people’s access to financial services. With charitable goals such as reducing carbon emissions and helping small businesses, the company can serve as a role model for other companies in promising the development of blockchain-based communities to improve the main problems of society and future generations.
