About Celo (CELO）
CELO is a blockchain protocol designed to solve some obstacles (user experience and volatility) in the adoption of crypto assets by using phone numbers as public keys and issuing tokens of local stable value. The network supports the development of smart contracts and decentralized applications. Its first application, CELO wallet, is intended to become a mobile centric social payment system.
CELO has two main crypto assets. CELO and CELO dollars. CELO (CELO) is the local asset of the agreement. As a practical tool, it enables users to participate in network consensus (through its proof withdrawal system), pay for chain transactions, and vote on management decisions. CELO dollar (cusd) is a stable asset following the dollar.
By 2025, there will be more than 7billion smartphone users, but there are less than 100million cryptocurrency users at present. According to the CELO foundation, usability and price stability remain the two main disincentives to cryptocurrency adoption. CELO’s mobile first approach aims to bridge this gap.
Key technological innovations to promote adoption include.
- Fast & Light transactions (blocks are optimized for fast mobile phone synchronization).
- The ability to send money to a phone number (lightweight identity protocol, which maps the hash value of a phone number to a public key — making it easier for anyone with a mobile phone to send and receive digital money to anyone in the world)
- Automatically deduct transaction fees and choose to pay for gasoline in a stable currency (as low as $0.01).
- Stablecoins, starting with cusd, are supported by decentralized reserves to help provide stability, transparency and auditability.
Where Can I Buy CELO
CELO is a trustworthy token, which is becoming more and more popular, so it can be found in many large exchanges. Coinbase and binance are two popular exchanges that allow you to hold, trade and mortgage celos.
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