Celer Network (CELR) is a blockchain interoperability protocol that strives to simplify user experience by enabling one-click access to tokens, DeFi, GameFi, NFTs, governance, and more across multiple chains. It allows developers to build inter-chain-native dApps using the Celer Inter-chain Messaging Framework, which provides efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps can enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction user experience, all from a single chain. The CELR token, an ERC-20 standard token built upon the Ethereum blockchain, is used to manage the network economy and has several uses, including staking in the State Guardian Network (SGN) and participating in network governance.

Celer Network operates through smart contracts deployed on each chain paired with the State Guardian Network (SGN), a Tendermint-based blockchain, to enable seamless multi-blockchain interoperability. To send a message or invoke a smart contract function cross-chain, a user or a dApp sends their intention as a message with a structured header and arbitrary binary payload to a Message Bus smart contract on the source chain. The validator, the SGN, then reaches a consensus on the existence of such a message and concurrently generates a stake-weighed multi-signature attestation. This attestation is relayed to the destination via an Executor subscribing to the message. On the destination chain, the same Message Bus contract exists to check the validity of the message and triggers the corresponding logic associated with the message either immediately or after a timeout.

Celer Network seeks to provide a platform for the development of inter-chain-native dApps with efficient liquidity utilization, coherent application logic, and shared states. Some potential use cases include decentralized exchanges that allow users to swap tokens across multiple chains from just one chain and with only a single transaction. It can also be used for lending protocols where collateral can be provided on one chain in order to borrow assets on a different chain, and NFT marketplaces where a user from one chain can place bids on an auction taking place on a completely different chain. Other potential use cases include DAO governance protocols that allow unified governance mechanisms without requiring governance tokens to be moved across different chains, and metaverse games where users can interact seamlessly in the game with virtual items from various chains.

Celer Network was established in 2018 by a team of engineers. All four co-founders of Celer hold PhDs in Computer Science from universities like MIT and UC Berkeley, and all have experience working in the tech industry. The co-founders include Dr. Mo Dong, an expert in applying algorithmic game theory to protocol design, Dr. Junda Liu, who joined Google in 2011 to build its datacenter networking infrastructure, Dr. Xiaozhou Li, whose works have been published at premier venues in distributed systems, networking, storage, and data management, and Dr. Qingkai Liang, whose research focuses on various learning and control problems that arise in networked systems. Celer Network has undergone smart contract audits and has a bug bounty program to encourage community and whitehat efforts in securing and improving the network.

Celer Network seeks to offer improvements in scalability in layer-2 solutions by employing a combination of state channels, sidechains, and rollups. State channels allow mutually distrustful parties to execute a smart contract off-chain and quickly settle on the latest agreed states, with their security and finality guaranteed by on-chain bond contracts. Sidechains, another off-chain scaling technique, run a more efficient decentralized system that can bridge assets to and from the mainchain. Rollups, an emerging layer-2 scaling technology, store contract state hashes on-chain, with the actual transaction computation happening off-chain. Celer Network also employs a routing algorithm known as Distributed Balanced Routing (DBR) to achieve higher throughput. This combination of technologies seeks to bring most of the transactions off-chain, avoid on-chain consensus as much as possible, and use it only as a last resort, thereby aiming to improve scalability.

The cBridge has processed more than $14B cross-chain asset transfer volume for over 540K unique users, indicating its usage. It is built on top of the Celer Inter-chain Messaging Framework, which aims to change how multi-blockchain decentralized applications (dApps) are built and used. This framework allows developers to build inter-chain-native dApps with liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps can experience a diverse multi-blockchain ecosystem with a single-transaction user experience. This allows users to interact with tokens, DeFi, GameFi, NFTs, governance, and more across multiple chains.

CelerX is a vital component of the Celer Network ecosystem, offering a variety of use cases that aim to enhance the user experience. It functions as a mobile eSports platform where users can engage in skill-based game tournaments and earn non-monetary rewards. The platform enables users to send and receive payments, conduct swift transactions, and engage in interactive blockchain-based games. Developers have the opportunity to utilize CelerX's SDKs to construct and deploy scalable decentralized applications (dApps) with reduced costs. CelerX supports the creation and distribution of tokens, such as Game Tokens, which are utilized for practice tournaments. Users have the option to exchange these tokens for non-monetary rewards. CelerX strives to provide a seamless user experience, facilitating transactions within the Celer Network ecosystem.

Celer Network utilizes layer-2 scaling technologies that aim to improve transaction speed by conducting most transactions off-chain, thereby reducing the load on the main blockchain. This approach is based on the principle of making operations on different nodes mostly independent, which is key to designing a scalable distributed system. Celer Network employs several layer-2 scaling technologies, including state channels, sidechains, and rollups. State channels allow mutually distrustful parties to execute a smart contract off-chain and quickly settle on the latest agreed states, with their security and finality guaranteed by on-chain bond contracts. Sidechains, another off-chain scaling technique, run a different approach to a decentralized system that can bridge assets to and from the mainchain. Rollups, an emerging layer-2 scaling technology, store contract state hashes on-chain, while the actual transaction computation happens off-chain. Celer Network's layer-2 system adopts the Optimistic Rollup approach, which batches many off-chain transactions into a single on-chain state transition.

Celer Network's off-chain scaling approach aims to address the limitations of blockchain technology, particularly in terms of scalability, transaction speed, and cost. By moving transactions to the layer-2 off-chain systems instead of broadcasting transactions through slow consensus processes, Celer Network strives to achieve horizontal scaling, instant finality, aims to reduce cost, and more privacy. This approach allows for the creation of private off-chain channels between two parties that can be used to conduct multiple transactions, without having to broadcast them to the main blockchain. This results in instant transactions and aims to reduce costs. And, Celer Network's off-chain scaling approach includes a set of on-chain smart contracts and off-chain communication protocols, which provide a flexible and blockchain-agnostic framework. This approach aims to integrate with other layer-1 blockchains.

Celer Network utilizes rollups as a component of its Layer-2 scaling technology. Rollups are a technique that groups numerous off-chain transactions into a single on-chain state transition, with the intention of improving performance. Within a rollup system, contract state hashes are stored on-chain, while the actual transaction computation takes place off-chain. Celer Network specifically employs the Optimistic Rollup approach, where aggregators submit rollup blocks that summarize the off-chain transactions. These rollup blocks can be verified by anyone, and disputes can be raised to allow the on-chain contract to verify the rollup blocks. This approach strives to address throughput, cost, and security considerations, while acknowledging the potential for increased transaction latency due to the nature of batching.

Celer Network's cChannel is a key component of its off-chain scaling solution. It is designed to facilitate off-chain transactions and smart contract interactions, with the aim of improving the speed and cost-efficiency of operations on the network. The cChannel, otherwise known as the state channel, allows for multiple transactions to be processed between two parties without the need for each transaction to be broadcasted and processed on the main blockchain. This approach strives to reduce transaction fees and enhance transaction speed. The cChannel is part of Celer Network's cStack, which comprises cRoute, cOS, and cEconomy. These components work together with the intention of facilitating transactions with improved speed, cost-efficiency, and privacy, positioning Celer Network as a platform for building and running decentralized applications.