Celer Network has shown that it can make a decentralized, off-chain scaling platform with strong security properties. The project comes from several Stanford researchers and is backed by venture capital firms like FBG Capital, Global Brain, Zhenfund, and DFund.
Celer Network crypto has proven to be a profitable investment for those who joined in the early stages of the token, with an ROI of 337.54%. Celer is the future of Esports and MicroPayments on Ethereum Layer 2; think Matic but is it better?
We’ll look at past Celer Network (CELR) pricing and see what experts have to say about its price movements in the future. Keep in mind that these predictions should be taken just as suggestions from some market experts/analysts.
Today’s Celer Network price today is $0.014059 with a 24-hour trading volume of $17,196,175. Celer Network is down 9.54% in the last 24 hours. The current CoinMarketCap ranking is #178, with a live market cap of $99,377,217. It has a circulating supply of 7,068,599,478 CELR coins and a max. supply of 10,000,000,000 CELR coins.
What is Celer?
Celer Network is a second-layer, off-chain scaling platform. It is designed to address the scalability trilemma of blockchains by simultaneously offering strong security guarantees, low development costs, and high performance. The network consists of both an off-chain operating network and various developer tools:
- CelerX: An SDK for trustless off-chain dApps.
- Celer SDK: A high-level abstraction layer that allows developers to build scalable, secure, and privacy-preserving decentralized applications (dApps).
- Channel transfers: Enables bi-directional off-chain of digital assets without any settlement delay.
Unlike most scaling projects that address scalability through sharding or Layer 2 techniques, Celer Network is designed to solve the problem differently. The project uses a layered architecture that separates state channel logic from off-chain operating networks and smart contract processing.
Source: Celer Network
Celer Network was developed by researchers at Stanford, UC Berkeley, and Princeton, working on layer two infrastructure for blockchains. They have gone beyond theoretical research and built working prototypes of their models – the first implementation was developed as early as 2016 when it was used to solve a privacy layer on Ethereum.
An off-chain scaling solution is necessary because today’s blockchains are slow and expensive. For example, a simple payment from A to B in a dApp can require up to 22 blockchain confirmations (~30 minutes) and cost over $1 when using the Ethereum mainnet.
Celer Network Overview
Celer Network Overview
| Coin | Symbol | Price | Marketcap | Change | Last 24h | Supply | Volume (24h) |
|---|---|---|---|---|---|---|---|
|
CELR | $ 0.019085 | $ 108.77 M | 0.82% | 5.65 B | $ 48.85 M |
Celer Network’s vision is to be the cryptoeconomically-driven, Internet-scale computer that will power all decentralized applications. Over the past year, the price change has been about 2249.9%, with the price rising from a minimum price of $0.04023 to a maximum average price of $0.1987 during that period. Celer Network has demonstrated a positive development. We believe that similar segments of the market were viral at that time. According to the most recent data available, Celer Network’s trading volume has risen over the last four months. The trading volume is an essential indicator in determining its price.
The Celer Network Architecture
The Celer Network architecture (cStack) is built on four elements:
- ccOS: The core of the network that provides the workflow.
- cRoute: A mechanism that increases operations capacity by streamlining routes within the network.
- cChannel: Channels for transmitting transactions within the network.
- cApps: An ecosystem application layer used for scaling and user privacy.
The platform uses a Proof-of-Stake (PoS) consensus variation called Delegated Proof of Stake (DPoS). With this algorithm, participants may stake their coins for a reward while transferring the responsibility of validating transactions to “delegates.”
CELR holders will provide tokens for liquidity and will receive a reward for doing so. The key point of Celer is that the platform allows layer-2 scaling for any blockchain. Thus, the project covers a wide spectrum of the market, multiplies the liquidity potential, and increases the product’s reliability, coverage, and adaptation.
Who Created The Celer Network?
Celer Network was founded in 2018 by a strong team of engineers with incredibly technical and specialized experience. All four co-founders of Celer hold PhDs in Computer Science from universities like MIT and UC Berkely, and all have a work history with high-profile tech companies.
- Dr. Mo Dong is a bonified expert in applying algorithmic game theory and protocol development. He also teaches comprehensive courses on smart contracts. He previously worked as a development engineer and product manager at Veriflow.
- Dr. Junda Liu graduated from UC Berkeley and worked with Google in 2011 to create the infrastructure for their data center. In 2014, he became one of the founders of the Project Fi mobile service. After that, he took the position of technical manager at Android Tech.
- Dr. Xiaozhou Li received his education at Princeton. Li interned at Microsoft before working at Barefoot Networks as a software engineer. Today, his published and widely-read academic works span distributed systems, networks, storage, and data management.
- Dr. Qingkai Liang holds a degree from MIT. As a software engineering intern, he has worked for the MIT Laboratory for Information and Decision Systems (LIDS), Bell Labs, and Google. His research focuses on learning and controlling problems in networked systems, namely online learning algorithms in adversarial networks.
What makes Celer Network (CELR) unique?
Celer is a networked system and not a separate blockchain. The platform instead runs on top of existing and future blockchains. The developers focused on scalability to improve the throughput of crypto blockchains. The founders are confident that in-house solutions will not bring results to future decentralized blockchains (globally). Instead, they propose to solve the problem with their off-chain platform.
The four levels of the cStack architecture are evenly partitioned to provide several unique benefits. The advantages include reduced transaction delays, decreased commission for micropayments; zero commission in working off-chain smart contracts; horizontal scaling in joining new nodes; availability of an off-chain model of cryptoeconomics; an optimal routing algorithm for transactions; and support for various blockchains.
The cEconomy is a unique cryptoeconomic model responsible for maintaining stable liquidity and availability for the ecosystem while creating a network effect. The mining algorithm doesn’t require the use of Proof-of-Work (PoW). Users only need to install the software and keep CELR in their accounts to receive income as a reward for providing liquidity.
How many CELR are in circulation?
CELR has a maximum supply of 10 billion tokens, which is distributed as follows: 25% – PoLC mining reward and Off-chain ecosystem building; 20% – Team (18.3%) and Advisors (1.7%); 17% – Foundation; 5% – Marketing & Ecosystem; 33% – Sale.
CELR is an ERC-20 standard token built upon the Ethereum blockchain. It’s used to manage the network economy – cEconomy and has several uses:
- Paying commission fees for service and transactions to off-chain providers and covering additional costs.
- Staking CELR in State Guardian Network (SGN) and acquiring the status of State Guardian. State Guardians have access to status monitoring, respond to disputes, and provide security and network efficiency.
- CELR tokens maintain a large liquidity pool in a Proof of Liquidity Commitment (PoLC) process.
- CELR tokens can be useful in a Liquidity Backing Auction (LiBA) to increase the priority of applications for liquidity support and, as a consequence, increase the payment of interest on liquidity.
How Is the Celer network secured?
The SGN (State Guardian Network) is a decentralized L2 service infrastructure that keeps the Celer L2 platform running smoothly. It securely stores the user state on the Celer State Channel Network and responds to L1 calculations when users are offline. Moreover, the technology allows users to protect their savings before going offline. SGN also acts as a decentralized block producer level for the Celer Rollup, thus maintaining a high level of viability and providing additional security. Users are required to stake CELR to join the SGN. And CELR holders facilitate the protection of the network as a whole.
Where can you buy CELR?
The top exchanges for Celer Network (CELR) trading are currently Binance, Gate.io, Bithumb, OKEx, Crypto.com Exchange, WazirX, AscendEX, (Bitmax), CoinDCX, MXC.com, BitPay, DigiFinex, BKEX, AEX, BiKi, Hotbit, HitBTC, TOKOK, Uniswap V2, TOCENCAN, DragonEX, ZT.
In March 2019, the sale of CELR tokens took place on the IEO platform, Binance Launchpad. As of June 2021, the most liquid trade pairs for CELR on Binance are CELR/USDT, CELR/BTC, CELR/BUSD, CELR/BNB.
How does Celer work?
An overview of the Celer Network architecture
Celer Network contains two main components: an off-chain operating network and developer tools. The Ethereum blockchain powers them through smart contracts (Economic) and cTokens (Gas). The platform is blockchain agnostic; it will start with integration for Ethereum, but later additional blockchains can be added.
The Celer Network platform is maintained and supported by the Celer team. The project’s goal is to be decentralized as much as possible so that third parties can maintain specific components or upgrade them without disrupting service delivery.
CelerX: An SDK for trustless off-chain dApps
Most blockchain applications require users to sign a transaction to prove they have permission for specific actions. For example, when Alice wants to send 1 Ether from an A account, she needs to ask for B and have B send her an authorization token in signed data. After that, Alice can use the Ethereum network’s proof-of-work algorithm to secure funds transfer.
A transaction on the Ethereum blockchain specifies that Alice has permission to withdraw 1 Ether from account A. Source: Etherscan
- This introduces several challenges:
- The process is slow and expensive (it requires paying gas fees and waiting for multiple confirmations).
- The signing process is complex, requiring expensive development time due to security reasons.
- The platform can be limited by architecture – for example, when Alice wants to use the same token on another blockchain, she has to redeploy it there, which introduces even more challenges.
Celer Network solves these problems through off-chain transactions. Users sign a transaction off-chain that represents the intention of withdrawal. This proposal is then submitted to the operating network, where it’s put on hold until the transaction is completed (i.e., funds are sent).
The Celer network architecture shows two types of settlement transactions. The first one sends 1 Ether from A account to B account; settlement costs $5 and takes ~10 minutes due to blockchain confirmations. The second transaction sends 1 Ether from A to B, the cost of accommodation is $0.5, and it takes ~1 minute.
People are waiting for A and B, a simplified example of off-chain transactions on top of Celer Network for sending funds between two parties. After creating a payment channel, Alice signs a transaction authorizing the withdrawal of 1 Ether from account A and sends it to Celer Network. The amount is then locked in an escrow contract valid for the next 24 hours; the funds will be made available once Alice and Bob send their authorization tokens (signed data). After both parties sign a revocation transaction, which enables refunding of all funds in the channel to their initial state, they can make a withdrawal from the track.
Celer Network Technical Analysis
Celer Network price analysis reveals the cryptocurrency to be following a declining trend, where significant devaluation has been occurring for the past few days. The price of CELR/USD had reached the $64 mark on June 28, 2022, before declining to $0.015 on the same day. The price suffered a flash crash the next day, which further devalued the price. As a result, the price went from $0.0158 to the $0.0155 mark.
Celer Network price analysis shows market volatility following a decreasing trend. Although the market’s volatility is minute, it seems to be following further depreciation. This means that the Celer Network prices subject to fluctuations will move with the volatility and become less susceptible to volatile change. The upper limit of the Bollinger’s band exists at $0.018, which acts as the strongest resistance for CELR. Conversely, the lower limit of the Bollinger’s band is available at $0.011, representing the strongest support for CELR.
CELR/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with massive volatility. We can observe the CELR/USD price path following a downwards movement.
Celer Network price analysis reveals that the Relative Strength Index (RSI) is 55, meaning that the cryptocurrency is stable falling in the lower neutral region. The RSI can be seen following a downward movement that reflects a decreasing market trend and small chances of a reversal.
Celer Network price analysis concludes that the cryptocurrency follows a definite bearish trend. The price reached $0.0155 on June 29, 2022; however, the price has been struggling even to the $60 mark now. The price has been on a decline ever since then. The current price of Celer Network is $0.0151. The cryptocurrency is suffering from severe devaluation. The bears have gripped the market and are not keen on letting go quickly.
Wallet Investor
According to WalletInvestor’s CELR Token price prediction for 2022, CELR will hit $0.178 in a year and rise to $0.614 in 2026.
Price Prediction.com
According to Price Prediction.net, CELR price prediction will average $0.12 the following year, $0.16 the year after that, and $0.25 the year after that. According to the website’s CELR price forecast, it will hit $0.37 in 2025 and then average $0.57 in 2026, $0.83 in 2027, $1.21 in 2028, and $1.70 in 2029. The site projects a Celer Network pricing of $2.42 for 2030.
Gov Capital
According to Gov.Capital, the Celer Network price forecast is expected to be around $0.172 on December 9, 2022, rising to roughly $0.326 a year later and $0.516 on the same day in 2024. The Celer Network pricing forecast for 2025 is around $0.746 on December 9 and rises to approximately $1.14 a year later.
Cryptopolitan
Celer Network Price Prediction 2022
The price of Celer Network is anticipated to have a minimum price value of at least $0.018 in 2022. With an average trading price of $0.019, the CELR price may go as high as $0.021.
Celer Network Price Prediction 2023
In 2023, the price of Celer Network is expected to be at least $0.026. With an average price of $0.027 during 2023, the Celer Network pricing can go as high as $0.031.
Celer Network Price Prediction 2024
The price of Celer Network is anticipated to fall to at least $0.040 in 2024. With an average selling price of $0.041, the CELR price may go as high as $0.045.
Celer Network Price Prediction 2025
In 2025, the cost of 1 Celer Network is predicted to be at least $0.059 per unit. 2025 will see an average price of $0.061 for CELR, with a maximum price of $0.069 possible.
Celer Network Price Prediction 2026
In 2026, the price of Celer Network is anticipated to go as low as $0.083. According to our research, the CELR price might rise as high as $0.10, with an average anticipated price of $0.085.
Celer Network Price Prediction 2027
The price of Celer Network is anticipated to be at a minimum of $0.12 in 2027. With an average selling value of $0.13, the Celer Network price value can go up to $0.14.
Celer Network Price Prediction 2028
In 2028, the price of Celer Network is expected to be at least $0.17. With an average selling price of $0.18 during the course of 2028, the Celer Network price might go as high as $0.21.
Celer Network Price Prediction 2029
Celer Network’s price is anticipated to drop to a minimum of $0.27 in 2029. The average price of the CELR is $0.28, with a maximum price value of $0.31.
Celer Network Price Prediction 2030
In 2030, the price of Celer Network is expected to be at least $0.40. With an average selling price of $0.41 during the course of 2030, the Celer Network price might go as high as $0.46.
Celer Network Price Prediction 2031
In 2031, the price of Celer Network is anticipated to go as low as $0.59. According to our research, the CELR price might rise as high as $0.70 with an average prediction price of $0.61.
The Celer Network company is not the only one that specializes in level-2 scaling solutions. Regardless of the organization’s pricing projection, the job CELR accomplishes is crucial, but before choosing whether CELR is the best option, it would be useful to observe other, somewhat dissimilar, systems to see how they are performing and acting.
The cost of Celer Network will rise in the future! By 2026, Celer Network is anticipated to surpass the $0.5 threshold, according to our technical analysis! The market capitalization of Celer Network will rise in the future as its worth rises.
Future growth is contingent on a variety of factors, including announcements, new technology solutions generated by Celer Network activities, the crypto ecosystem in general, legal status, and so on. As a result, we’d want to advise you that before investing in any cryptocurrency, you should do your homework.
