Celo (CELO)

Celo Foundation - LCX

Last Updated: 03/09/2022

What Is Celo (CELO)?

A blockchain ecosystem called Celo is dedicated to boosting smartphone users' acceptance of cryptocurrencies. Celo wants to make bitcoin transactions accessible to the billions of smartphone users worldwide, even those without access to banks, by using phone numbers as public keys. As part of decentralized finance, the network also permits the development of smart contracts and decentralized apps (DApps) (DeFi). In April 2020, its mainnet was launched. the two native tokens on the platform. A proof-of-stake (PoS) cryptocurrency known as CELO is employed for transaction costs, governance participation, and related tasks. The network intends to host a number of stablecoins in the future; three, the Celo Dollar (CUSD), Celo Euro (CEUR), and Celo Brazilian Real (CREAL), are now operational.

Focusing on smartphone consumers is Celo's key differentiator. The business claims that while the number of smartphone users is growing at a far slower rate than smartphone ownership, it is growing exponentially. Additionally, cryptocurrency is well suited to areas where a sizable portion of the populace lacks access to banking services but still owns a smartphone. Celo wants to bridge the gap between the two technologies and take advantage of DeFi's advantages by encouraging the development of DApps and smart contracts. The Celo blockchain, which is mobile-optimized, calculates transaction costs automatically and lets users pay the gas fees that fuel transactions in any currency.

To preserve security, Celo uses proof-of-stake, and it has a difficult election procedure to choose the blockchain validators. Owners of CELO may vote for different validator groups in elections using their holdings as a way of participation.

Team

MIT, Stanford, Google, Square, Circle, Visa, GoDaddy, the World Bank, the Federal Reserve Bank, Harvard University, the University of Pennsylvania Law School, Cambridge University, the U.S. Department of Justice, Bank Of America, Capital One, Twitter, Give Directly, and the Gates Foundation were all represented on the original founding team for Celo.

The promotion and preservation of Celo are the focus of separate organizations. A non-profit corporation called the Celo Foundation was established specifically for this purpose, and the Celo Alliance for Prosperity is what the company refers to as a "ecology of mission-aligned organizations."

Where to store Celo (CELO)

An alternative wallet provider for Celo token holders can be Trust Wallet – a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Popular among traders and gamers, the beginner friendly mobile wallet may be appropriate for users looking for a convenience and accessible app, with trusted security and backup options.

If you are looking for a cold storage wallet to keep you Celo tokens offline safe, we recommend using the leading hardware providers Trezor and Ledger.

MathWallet is a multi-platform crypto wallet that supports more than 50 public blockchains and enables storage of Bitcoin and major altcoins like Ethereum, EOS, Tron and more. Additionally, it features cross-chain token exchanges, a multi-chain DApp store and operates nodes for PoS chain.

Celo wallet is simple, lightweight wallet for the Celo network. Manage your funds in a browser or on your desktop.

Where to buy and sell Celo (CELO)

You can Buy & Sell Celo (CELO) by heading over to the Buy Coins page of our website. Celo (CELO) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $CELO has never been easier, simply place your order and provide your wallet address. Once your payment arrives Celo (CELO) will be sent directly to your wallet.

If you choose to Sell Celo (CELO) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

Celo (CELO) Resources:

Website: https://celo.org/

Block Explorer: https://explorer.celo.org/blocks

Twitter: https://twitter.com/CeloOrg

Medium: https://medium.com/celoorg

Disclaimer: The information provided in this article is intended for informational purposes only. It is the reader's responsibility to complete their own research and due diligence.