Celer Network is a high-performance Layer 2 scalability platform that aims to achieve the grand vision of bringing the scale of the Internet into the blockchain and helping the commercialization of the blockchain through the above technological innovations. It puts forward a new technical solution and economic model on the basis of the traditional off-chain solution, and the experimental simulation results of this solution show an order of magnitude performance improvement. CELR Token can be used for liquidity funds to borrow anti-fraud bonds as collateral, payment media for payment channel registration fees, transaction fees, and other possible service fees. In addition, in the first 5 years of system operation, new CELR Token will be generated through PoLC mining, while LiBA only needs to mortgage the Token, and CELR will still belong to the lender after the mortgage period. When the 5-year PoLC mining period ends, LiBA will start to consume CELR, and the consumed CELR will no longer be returned to the lender, but will be injected into the system as a continuous PoLC mining reward.
The off-chain expansion technology allows mutual untrusted entities to interact with smart contracts off-chain instead of on-chain. Participants jointly maintain and copy a multi-signature off-chain state machine that cannot be tampered with, and will only resort to on-chain consensus when it is absolutely necessary (for example, if multiple parties cannot reach an agreement). Off-chain expansion is the only way to realize distributed applications (dApps) that can scale horizontally and protect privacy while ensuring the trustless and decentralized characteristics of the blockchain. It is a turning point in the large-scale popularization of blockchain technology, and will become the engine and cornerstone of all scalable dApps.
Celr has been adjusted for four consecutive months after a long-term rise. It has reached the support of the moving average last week. At present, there is a steady influx of funds. Currently, we can see the previous highs, and we can wait for the daily level adjustment to intervene in batches. The bottom support is 0.131, and the first support of the moving average is 0.14. Once it breaks below 0.131 and does not pull back, it will weaken and we will need to wait and see.