Celer Network to List Next on Binance Launchpad, Promises ‘Internet Scaling’ for All Blockchains
Binance Launchpad has announced its next supported project, Celer Network — a testnet deployed solution that wants to deliver “Internet scale to every blockchain”. The popular exchange’s token launch platform will list Celer Network on its market starting March 19th, 2019 at 9:00AM EST.
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Celer Network claims it has created the blockchain industry’s “first known solution to comprehensively allow developers and companies to build, operate and utilize interactive and low-cost decentralized applications that match the user experience of centralized applications”.
Binance said listing Celer Network on Launchpad is part of its mission to support and respond to market needs in prioritizing infrastructure and development tools to advance robust utility frameworks and tangible use cases.
Celer Network Aimed at Faster Blockchains for Gaming, DApps, Exchanges
Celer Network said its technology will enable instant, easy and secure blockchain transactions. The network is a blockchain-agnostic, layer-2 scaling system that uses incentives based on cryptocurrency as a basis for its architecture.
Currently still in testnet stage, the network hosts Ethereum-based transactions, and Celer says its latency when fully launched will be up to 20,000 times faster with zero-fees for smart contract transactions.
The company hopes this will unlock blockchain’s innovation potential on a larger scale for various real-world use cases and solutions, such as: interactive gaming, general pay-per-use services, non-custodial financial assets exchanges, microinsurance; and decentralized derivative exchanges, electricity power exchange and Internet services.
In February 2019, during the testnet launch, Celer Network released CelerX, the earliest layer-2 application platform for iOS and Android. It’s backed by an advanced off-chain scaling platform where CelerX users have tested (and continue to use) its instant and payment-free application for the skill-based game, Gomoku.
Binance CEO and founder Changpeng Zhao (CZ) said:
“The lack of valuable solutions and good user experiences of blockchain-based technologies are caused by its limited scalability possibilities, which have been a major hurdle towards unlocking its significant adoption potential to date. Celer is currently at the forefront of solving this challenge with the early demonstrations of its sustainable crypto economics construct and layer-2 blockchain architect powering it.”
Launchpad Looks for Higher Quality in ‘Post-ICO Era’
This is Binance Launchpad’s third inaugural project of 2019, in what it calls “the post-ICO era”. Launchpad’s mission is to help promising blockchain startups raise capital needed to develop products — which in turn aid cryptocurrency adoption by providing them with Binance’s advisory resources and access to its ecosystem.
Its research report on Celer Network can be found here.
Launchpad also aims to find and bring higher-quality token projects to the market, via a rigorous vetting process to select projects that are compliant, with strong teams and products with large scalability potential that benefit the global cryptocurrency community as a whole.
Does Celer Network sound like a promising idea? What do you think of Binance Launchpad’s projects? Let us know in the comments.
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