Celer Network: Internet-Scaled Blockchain Operating Technology?
What Is Celer Network?
The Celer Network is a new off-chain operating network that was released in May. An off-chain network is one that does not work on top of a blockchain. The company has created a network that is horizontally scalable and, when it is popular, it will be able to surpass billions of transactions in seconds.
This new off-chain network will be as decentralized and private as any blockchain and very fast. In fact its name, Celer, comes from C, which comes from is the speed of light in vacuum (C comes from the Latin word celeritas, which means speed).
How Celer Internet-Scaled Blockchain Operating Technology Works
This network has a layered architecture and each layer of the network has its own purpose. It will have support for decentralized applications and will use an algorithm that will be considerably more faster than traditional blockchains.
The layered structure of the platform greatly reduces the complexities in the system because each layer has its own purpose. Called cStack, the interface is a 4-level layered structure that organizes the system.
cChannel is made of state channels and sidechains suites. Other important layers are cRoute, which provide the routing protocol of the network, cOS, which is the framework of the system and enables the off-chain apps to be run there and the cApps, which will act as an ecosystem for decentralized applications.
What Can You Do With Celer Network?
Each one of the layers will enable the user to make different actions. The cChannel, which is lowest layer, will be able to interact with the other blockchains. It will enable a generalized conditional state dependency DAG on top of the other channels and side chains of other platforms. This means that the platform will support different means of experiences.
You will not only be able to pay using other blockchains, but use them for games, online auction and other features that these blockchains will enable. This layer will have multi-hop state relay support and support atomic time lock.
This layer will facilitate all types of off-chain payments and reduce the liquidity by locking with what is being called by the company “sidechain-like” channels.
cRoute will be used for payment routing and to build a network of channels in which the transactions can be made on a trust-free manner. This layer is essential for transactions be as fast as they can be.
By using this technology, the developers that created the company are able to increase in up to 15 times the speed of the transactions and to keep a transparent balancing of the transactions. This will provide a fully decentralized process with high resistance to failure in any part of it.
Finally, the cOS targets the challenges that the people find whenever they try to develop off-chain decentralized apps. As the there are many information that does not works in different technologies, the objective of this layer is to provide some common ground for the developers to work on.
Who Is Behind Celer Network?
Such an ambitious network has to be managed and developed by people with expertise. The founding developers of the Celer Network are Dr. Mo dong, which is a Ph.D. from UIUC, Dr. Junda Liu, which is Ph.D. from UC Berkeley, Dr. Xiaozhou Li, which is a Ph.D. from Princeton University and Dr. Qingkai Liang, a Ph.D. from the MIT.
Celer Network Conclusion
This is an impressive piece of software. By being one of the first off-chain operating networks in the market right now, the Celer Network is actually a good project to look up to. With many interesting features and a giant level of scalability that make a big difference for the people using the platform and for the platform itself as it starts to grow.