Rajarshi Mitra
Independent Analyst
- Celer Network is 15 times faster than Bitcoin's Lightning Network.
- Celer can run on multiple chains simultaneously and can integrate any blockchain easily using an open-source protocol.
- NEO/USD went up by $9.84 to $10.15 this Monday.
The Celer Network (CELR) can be expected to become a scaling solution for several blockchains. NEO team representatives are discussing the possibility of collaborating Celer's layer-two scaling protocol with NEO's blockchain platform. NEO has already merged with Trinity Network, an off-chain scaling protocol developed by NEO developers. NEO's director of Eco Growth and the $100 million EcoBoost fund John Wang said that the collaboration with Celer is now "under discussion."
The Celer Network uses smart contracts and DAG-based sidechains to provide quick and free transactions. Experts say that it's 15 times faster than Bitcoin's Lightning Network. CELR tokens are used as a medium to transfer value across the network. Having had three token offerings so far, the most recent sale on Binance Launchpad raised over $4 million for the project.
Celer can run on multiple chains at a time. It already supports Ethereum, Oasis, Thunder (TT) and the DLT cloud computing project, Dfinity. As the protocol is open-source, any blockchain can collaborate by writing out the necessary components and smart contract connections. The EcoBoost fund is expected to provide finance and long-term support for projects that help and strengthen the broader ecosystem.
NEO/USD daily chart
NEO/USD went up by $9.84 to $10.15 this Monday. So far, the bears have taken the price down to $10.08 this Tuesday and have found resistance on the downward trending line. The price is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) indicator shows bullish momentum, while the Elliot oscillator has had two straight bullish sessions.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat (WIF) price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu (BONK), WIF token’s show of strength was not just influenced by Bitcoin (BTC) price reclaiming above $63,000.
Runes likely to have massive support after BRC-20 and Ordinals frenzy
PUPS, WZRD, and PEPE are gaining liquidity through Bitcoin Ordinals. Creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20, Runes.
Ethereum shows firm support at key level as its correlation with US indices increase
Ethereum's price continued a sideways movement on Thursday as the market still awaits a trigger. Ethereum isn't alone in this horizontal trend; several major index funds have also traded sideways.
Mango Market attacker convicted of fraud and market manipulation
Mango Market attacker Avi Eisenberg was convicted by a federal jury on Thursday for "fraudulently obtaining" funds from the Solana-based decentralized exchange (DEX). He could face up to 20 years in prison for his role in the $110 million attack.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.