CELOETH
Celo / Ethereum
crypto

Celo is a blockchain protocol that aims to address some of the barriers to cryptoasset adoption (user experience and volatility) by using phone numbers as public keys and issuing a native stable-value token. The network supports the development of smart contracts and decentralized applications. Its first application, Celo Wallet, intends to be a social-payments system centered around mobile phones. Celo features two primary cryptoassets: Celo and Celo Dollars. Celo (CELO) is the protocol's native asset. It serves as a utility that enables users to participate in network consensus (through its Proof-of-Stake system) pay for on-chain transactions, and vote on governance decisions. Celo Dollars (cUSD) are a stable asset that follows the US Dollar. The Celo protocol is an open, distributed cryptographic protocol that allows applications to make transactions with and perform computation on a family of cryptocurrencies, including ones pegged to 'fiat' currencies like the US Dollar. The Celo Wallet app, once released, will allow end-users to manage accounts and make payments securely and simply by taking advantage of the innovations in the Celo protocol. Some technological features of the network include: Stable Value Currencies: Celo includes native support for multiple ERC20-like stable currencies pegged to 'fiat' currencies like the US dollar. Accounts Linked to Phone Numbers: Celo maintains a secure decentralized mapping of phone numbers that allow wallet users to send and receive payments with their existing contacts. Transaction Fees in Any Currency: Users can pay transaction fees in stable currencies so that they do not need to manage balances of different currencies. Immediate Syncing Even on Slow Connections: Celo is designed to support wallet users with high latency, low bandwidth, or high-cost data tariffs. Celo removes the need to check every header before a received header can be trusted. The network also uses BLS signature aggregation and succinct zero-knowledge proofs, via zk-SNARKs, to help improve performance. Programmable (Full EVM Compatibility): Celo includes a programmable smart contract platform that is compatible with the Ethereum Virtual Machine (EVM), which is already widely adopted, familiar to developers, and has strong tool support. Self Custody: Users have access to and full control of their funds and account keys, and don't need to depend on third parties to make payments.