CelerNetwork (CEL) ICO
Past ICOMar 19, 2019 – Mar 19, 2019
CelerNetwork is a coherent technology and economic architecture to enable Internet-scale public blockchains through off-chain scaling techniques.
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|Project industry||Blockchain Infrastructure|
Just like how the 56Kbps dialup Internet in the 90s cannot possibly support 4K video streaming, the insufficient scalability of today’s blockchain technology is the key factor limiting its use cases. Current blockchains have low throughput because each operation needs to be processed by the vast majority of nodes to reach on-chain consensus, which is exactly “how to build a super slow distributed system” every CS student learned from their Computer Systems 101. The on-chain consensus scheme also leads to poor privacy as any node can see the full transaction history of one another. While new consensus algorithms keep getting proposed and developed, it is hard to free on-chain consensus from its fundamental limitations.
Off-chain scaling techniques allow mutually distrustful parties to execute a contract locally among themselves instead of the global blockchain. Involved parties maintain a multi-signature fraud-proof off-chain replicated state machine, and only resort to onchain consensus when absolutely necessary (e.g., when two parties disagree on a state). Off-chain scaling is the only way to support fully scale-out dApps with better privacy and no compromise on the trust and decentralization guarantees. It is the inflection point for blockchain mass adoption, and will be the engine behind all scalable dApps.
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 is not a standalone blockchain but a networked system running on top of existing and future blockchains. It provides unprecedented performance and flexibility through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics.
Celer Network embraces a layered 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 provably optimal value transfer routing mechanism that achieves an order of magnitude higher throughput compared to state-of-the-art solutions; a powerful development framework and runtime for off-chain applications; and a new cryptoeconomic model that provides network effect, stable liquidity, and high availability for the off-chain ecosystem.
ICO DetailsSoft cap: 4,000,000
Raised: 30,000,000 USD
LegalICO Platform: Ethereum
Registration country: Singapore
Token infoTicker: CEL
Accepted currencies: ETH
CelerNetwork (CEL) Roadmap
cChannel: generalized state channel contract release;
cRoute: continued research and evaluation;
cOS: SDK private beta release;
cEconomy: PoLC testnet launch;
Community: 400 cApp developers onboard.
cChannel: multi-blockchain support;
cRoute: large-scale emulation and algorithm tuning;
cOS: SDK public v1.0 release;
cEconomy: PoLC mainnet launch;
Community: first off-chain service provider launch.
cChannel: unified interface for state channel and sidechain;
cRoute: implementation and test;
cOS: SDK public v2.0 (with VM-native bridge beta) release;
cEconomy: LiBA and SGN testnet launch;
Community: more third-party cApps.
cChannel: continued blockchain expansion and integration;
cRoute: test and deploy;
cOS: SDK public v3.0 (with sidechain support) release;
cEconomy: LiBA and SGN mainnet launch;
Community: more off-chain service providers.
cChannel: cross-chain interoperability;
cRoute: production measurement and optimization;
cOS: SDK public v4.0 (with VM-native bridge) release;
Community: large-scale cApps ecosystem.
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