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Información

Datos de
Tiempo de de emisión
2020/05/12
Precio inicial
US $ 0.37323946
Circulación/Máx.
511.79M/1,000.00M
Dominación
0.02%
ROI -49.28%
$0.37323946$10.65835770
Disminuir · 2023/06/102023/06/10 · Elevar

Información

What Is Celo (CELO) Crypto?

Celo is a Layer-1, EVM-compatible public blockchain aiming to deliver a global financial ecosystem that empowers consumers to access digital payments with their mobile numbers. The blockchain operates in a carbon-negative manner by utilizing a proof-of-stake consensus mechanism.

The USP of the Celo ecosystem is that it maps an end users mobile phone number to their crypto wallet address, letting them send and receive payments worldwide as quickly as text messaging (SMS). Its unique decentralized address-based identity layer also incentivizes mobile users to participate in the consensus mechanism by helping secure and maintain its network.

As of January 2023, the Celo blockchain has users from more than 150 countries and boasts more than 22 million unique wallets. Its regenerative blockchain ecosystem aims to democratize access to financial services so that more people can participate in and benefit from wealth-generating opportunities.

CELO is the native cryptocurrency of the Celo blockchain and serves many purposes. It functions as the governance token and is used for staking and earning rewards, paying transaction fees, and more.

How Does Celo Work?

The Celo blockchain is a fully EVM-compatible blockchain with smart contract functionality, which means that it can support Ethereum-based decentralized applications (dApps). It uses a Byzantine Fault Tolerance (BFT) PoS consensus algorithm, which offers it higher efficiency, throughput, and lower gas fees than Ethereum.

Celos core contracts provide most of the logic within the blockchain to offer it features such as ERC-20 stablecoins, identity attestations, PoS mechanism, and decentralized governance. The Celo blockchain is supported by a decentralized network of validators, full nodes, and light clients (mobile-based).

Validators within the network are responsible for collecting transactions, executing smart contracts, participating in block production, and contributing to the blockchains overall consensus mechanism. Full nodes serve requests from light clients and forward their transactions, earning a percentage of the transaction fees as rewards for their efforts.

Unlike validators, full nodes maintain at least a partial history of the blockchain by transferring blocks of transactions between them. They can leave or join the network at any time without affecting the efficiency of the Celo blockchains operations.

End-user devices that run applications from the Celo blockchain make up light clients. They run an instance of the Celo blockchain software, connect to full nodes to request account and transaction data, and sign and submit new transactions.

History of Celo Blockchain

Celo was founded in 2017 by a team of people from some of the most established universities, financial institutions, and tech companies, including MIT, Stanford, Harvard, World Bank, US Federal Reserve, Bank of America, Capital One, Google, and GoDaddy. The first testnet launch of the blockchain occurred in July 2019, along with the team providing the open-source code and releasing the Celo Wallet - the official wallet app of the blockchain.

The incentivized testnet competition The Great Celo Stakeoff and validator staking were rolled out in December 2019, when the Baklava Testnet Phase 1.0 went live. The second phase of this testnet went live in January 2020 after discovering and rectifying some critical bugs.

Another testnet version was launched in April 2020, and in the same month, Celos codebase completed a security audit by TrailOfBits. The first Celo mainnet candidate was launched in April as well.

Validator elections and epoch rewards were unlocked in May 2020. This was followed by unfreezing voting rewards and CELO transfers in the same month. A month later, the validator group Censusworks submitted a proposal to change Celos native crypto assets name from Celo Gold (cGLD) to Celo (CELO).

Respuestas

Is Celo (CELO) a Good Investment?

The CELO crypto could be an interesting digital asset, especially if you believe in the potential of Web3 and digital currencies. As an EVM-compatible blockchain, Celo offers an attractive alternative for Ethereum dApp developers looking for a more scalable and affordable platform to deploy their projects. The Celo price could head higher as more developers design and launch dApps on the blockchain, contributing to a rise in on-chain activity. This could drive up the demand for its native cryptocurrency and boost the CELO price statistics. The price of CELO could also increase as more users sign up to use Celos stablecoins to conduct transactions. These Mento stablecoins allow consumers to make cheap, fast, secure payment transfers using their mobile phones and could disrupt the fintech industry.

What Is the CELO Crypto Price Prediction?

While it is impossible to offer an accurate Celo price prediction over any duration, you could monitor the following factors to gain a better understanding of the price action in the CELO token: Level of Adoption of Celo Ecosystem As more developers and users migrate to Celo and use dApps on its blockchain, the higher on-chain activity could bolster the demand and use of the Celo crypto. This could be one of the biggest drivers contributing to an uptrend in the value of Celo. Future Upgrades and Integrations As Celos developers announce new features that make the blockchain more attractive, we could see higher interest in the CELO token among investors. This could also contribute to an uptick in the CELO price in the market. Market Sentiment Market sentiment is critical in determining price trends in any cryptocurrency, including CELO. A positive mood among investors towards cryptos could encourage more buying activity that could drive the value of CELO higher. On the other hand, a risk-averse attitude could keep investors away from the crypto market and weaken the CELO price.

What Is CELO Token Used For?

CELO is the native crypto asset of the Celo blockchain ecosystem. Here are some of its most popular use cases: Pay Transaction Fees Developers and users pay transaction fees in CELO when using the Celo blockchain to transfer payments or when executing smart contracts. The CELO token is the native currency to pay gas fees when interacting with dApps or using the Celo blockchains infrastructure. Staking Validators can stake CELO to participate in the PoS consensus mechanism that secures the Celo blockchain. By staking CELO within the network, they can verify transactions, produce new blocks, and earn rewards to grow their CELO holdings for their contributions. Governance As a CELO token holder, you can also participate in the decentralized governance mechanism of the Celo blockchain. This means you can submit proposals and vote on other users submissions to decide how the Celo blockchain will evolve and what upgrades will get rolled out. Crypto Asset to Trade and HODL You can trade Celo crypto against other cryptocurrencies to profit from changing market conditions and volatility. Buy or sell CELO against other digital assets or hold it long-term if you believe in the future potential of the Celo project. Earn Passive Income on BYDFi You can also grow your CELO holdings conveniently using BYDFi Crypto Lending. Head to this section of our platform to lend liquidity in CELO to BYDFi. Earn attractive daily interest over seven days, 14 days, or 28 days, and grow your crypto portfolio in a safe and risk-free manner.

How to Earn Celo Token

There are several ways to earn CELO, including: Trading CELO Trade Celo on BYDFi or other supported platforms. Grow your holdings by placing winning trades in the market. This is the most profitable way to earn Celo and grow your holdings. However, we recommend you perform adequate background research on trading cryptocurrencies before getting started to minimize your risk exposure. Staking CELO You can stake CELO on the Celo blockchain to participate in the consensus mechanism and help secure the network. You can earn Celo and contribute to validating transactions and adding new blocks to the Celo blockchain. Lending Liquidity in CELO You can also lend liquidity in Celo crypto to BYDFi or other supported platforms. This strategy offers the most convenient and risk-free way to grow your CELO holdings and is especially beneficial to long-term holders.

How to Add CELO to MetaMask

MetaMask is one of the most popular crypto wallets, especially for Web3 users. Heres how you can add the Celo Network to MetaMask and use it to store and manage your CELO holdings: 1. Download and install the MetaMask extension on your browser. Set up a wallet on it if you are a new user. If you are an existing user, import your wallet using your Secret Recovery Phrase. 2. Head to MetaMasks Settings, visit the Network section, and click on the Add Network option. 3. Enter the following details here: Network Name: Celo (Mainnet) New RPC URL: https://forno.celo.org Chain ID: 42220 Currency Symbol: CELO Block Explorer URL: https://explorer.celo.org 4. Click on Save to confirm the settings and add the Celo blockchain to MetaMask. Your MetaMask wallet will now support CELO and other supported tokens from the Celo network. 5. Transfer your CELO tokens to MetaMask and store, use, and manage them here.