What is Celo?
Celo is an open platform, allowing finance applications, smart contract development, and payment services to use e-mail addresses and phone numbers as public keys.
Celo introduces address-based encryption, a way of identity-based encryption that directly uses an e-mail address or phone number as a public key.
What problem does Celo solve?
Cryptocurrency currently has some strengths over fiat currency as a means of payment. Users can transfer money globally faster, lower costs only with a smartphone.
However, cryptocurrencies are not widely adopted as a means of payment due to the following constraints:
- Deflationary price instability of successful coins: users often use crypto as a store of value instead of a means of payment.
- Complicated payment experience: users need to generate a private/public key pair to receive payments, enter the public key of someone else’s address to transfer payments.
Celo was created with the desire to make global payments in crypto as easy as sending a message, and minimize currency instability.
Key components of Celo
- Celo Protocol: Proof-of Stake blockchain protocol using phone number and e-mail address as public key
- cUSD (Celo Dollar): stablecoin tied to fiat currency is the US dollar, creating favorable conditions for Celo to become a means of payment.
- Celo Developer Wallet: send, receive and swap cUSD and CELO test tokens using decentralized verification by phone number
Benefits of using Celo
- A variety of stablecoins supported
- Accounts linked to phone numbers, allowing users to send and receive payments with their contacts easily
- Pay transactions in stablecoins
- Get rewarded in coins or tokens when providing computation resources
- Participate in on-chain governance
- Use a variety of applications and utilities of Celo and third parties
- Manage your own complete private key
CELO Token
CELO is the native asset of the platform, intended for the following uses:
- Governance: participate in project management decisions through zoning
- Network security: CELO stake to secure the network, join consensus and earn rewards
- Transaction fees: pay transaction fees on the chain
Specifications
- Ticker: CELO
- Blockchain: Celo
- Total supply: 1,000,000,000
- Circulating supply: 306,819,314
CELO token Price today
How to buy CELO
Celo (CELO) has been listed on Attlas Exchange.
Traders can easily and securely buy CELO with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find CELO
Step 5: Select Buy
Summary
This article is an overview of Celo (CELO), not a financial advise.
Users are advised to do their own research before making any trading decisions.