The Celer Community is a layer-2 scaling platform for integrating quick, safe, and low-cost blockchain functions on blockchains like Ethereum, Polkadot, and different blockchains. As such, it sells itself as probably the most superior layer-2 scaling platform.
Celer runs on a cleanly layered off-chain structure that allows and encourages totally different implementations on every layer. The goal is to construct a decentralized ecosystem able to supporting large-scale, safe, personal, and trust-free information-value exchanges.
As a scaling resolution on Ethereum, Celer compares itself with the layer-2 Bitcoin Lightning Community. Consequently, builders use the Celer Community to construct cost-effective dApps. Having launched its alpha-mainnet on July 7, 2019, how is the Celer Community now performing?
As with high-performance blockchains, the Celer Community is rising at a breakneck tempo. On November 11, the Celer Community introduced that it had exceeded $900 million in whole cross-chain transaction quantity. The mission revealed it had 34K+ customers world wide.
Precisely per week in the past, Celer celebrated crossing $800 million in whole cross-chain transaction quantity on the cBridge. On November 4, Celer had simply 20+ companions with 32K customers serving to bridge the shared Celer blockchain ecosystem collectively.
Bettering on its already spectacular know-how, the Celer Community not too long ago launched the cBridge 2.0 Testnet. Celer’s cBridge turned famend for supporting a number of the hottest chains together with Ethereum, Binance Good Chain, Polygon, Avalanche, Fantom, and even Huobi ECO Chain.
Celer Community constructed the cBridge 2.0 to offer a a lot easier consumer expertise for customers. As well as, the two.0 is extra scalable and has a deeper multi-chain liquidity administration system to assist billion-dollar day by day cross-chain switch quantity to mass customers.
The brand new cBridge 2.0 testnet launched its neighborhood to an built-in liquidity mining farming expertise. This can present its customers with a greater strategy to begin farming with none extra steps of staking LP tokens.
Together with the cBridge 2.0 Testnet launch, Celer Community launched a cross-chain bridging marketing campaign and obtained suggestions from its neighborhood on areas to be improved on the community.
For the reason that cBridge 2.0 Testnet was launched, there have been a number of updates, with the newest iteration that includes a brand-new State Guardian Community (SGN).
As the ultimate step earlier than the mainnet launch, Celer Community introduced neighborhood rewards for testing the cBridge 2.0. Along with the $2,000 suggestions and bug reporting reward, the mission has put aside $20,000 for people prepared to check and check out the assorted functionalities on their new improve.
Following the success of the cBridge 2.0 Testnet, the Celer Community is making ready for the mainnet launch of cBridge 2.0. In response to earlier projections, the mainnet launch was scheduled to occur in mid-November, so we’re simply days away from the occasion.
Conscious of the safety challenges of DeFi, Celer Community has introduced a multi-million greenback bug bounty program together with its mainnet launch. As well as, the community has additionally carried out three unbiased good contract safety audits, whose outcomes can be publicly launched.
Value Replace and Technical Evaluation
Not like many of the crypto market, Celer Community (CELR) loved considered one of its greatest rallies in September. CELR opened in September at $0.04811, earlier than rallying to its all-time excessive of $0.1987 on September 26.
The September value chart of Celer Community (CELR). Supply: Tradingview
In October, the value of CELR dropped by virtually 30% as different cryptos rallied. Nevertheless, November introduced a wave of reduction for CELR, with the coin buying and selling within the inexperienced as soon as once more.
On the time of this writing, CELR trades at $0.127477 on the again of a 15% value rise over the past 24 hours. The Celer Community is ranked because the 126th largest crypto, with a $768 million market cap.
The five-day value chart of Celer Community (CELR). Supply: Tradingview
On October 9, CELR registered one other spike that noticed the coin peak at its present 45-day excessive of $0.1929. Since then, CELR has consolidated within the $0.12-$0.15 vary.
The weekly easy transferring common (SMA) and exponential transferring common (EMA) all assist a bullish outbreak for Celer Community. The day by day sentiments for CELR are the identical, with 80% of the SMAs and EMAs supporting a bullish outbreak for CELR.
If this state of affairs performs out, CELR will look to retest the $0.1400 resistance stage within the brief time period. If the coin is ready to preserve a chronic rally, then CELR may look to reclaim its 30-day excessive of $0.1626.
Nevertheless, persevering with its 6% decline of November 11 will see CELR retest its assist zone of $0.1205 earlier than seeking to fall to a stronger psychological assist zone at $0.111.
Given the present efficiency of Celer Community and the upcoming mainnet launch, a bullish breakout is a popular state of affairs.
Whereas Celer Community might not have the largest neighborhood with solely 34k customers, it has probably the most dedicated crypto communities. The neighborhood involvement of the Celer Community is excellent, as members are carried alongside each step of the best way.
After testing the cBridge 2.0, @indozham took to Twitter to share his expertise. He wrote;
Clearly happy with the efficiency of the Celer Community, @CallyM_ tweeted;
Additionally speaking concerning the efficiency of the mission, Rico Silva wrote;
Soroush Osivand, the founding father of Soroosh Faculty, has shared his value prediction for CELR. He wrote;
The Celer Community has a number of the most spectacular layer-2 know-how, which, from earlier reviews, would get higher with the mainnet launch of the cBridge 2.0. In all, Celer Community is an excellent mission, which wants publicity to turn out to be a sector-leading blockchain.