Celo is a blockchain with a mobile-first approach, aimed at making financial dApps and cryptocurrency payments easily accessible to individuals using mobile phones.

Celo is an innovative platform that empowers mobile users worldwide to effortlessly engage in secure financial transactions using cryptocurrency. The platform operates with two native tokens on its blockchain. The CELO token serves as a governance asset, offering stakeholders the opportunity to actively participate in voting on protocol adjustments. Complementing this, Celo Dollars (cUSD) are stablecoins that mirror the value of the widely recognized American currency.

While Celo shares common principles of blockchains and decentralization with similar crypto services, it distinguishes itself through its dedicated focus on mobile accessibility. The Celo blockchain has been thoughtfully engineered to unite the vast network of mobile phones across the globe within a single decentralized framework. 

This pioneering system is bolstered by 100 network validators who engage in efficient proof-of-stake (PoS) operations. The utilization of Byzantine fault tolerance, a special mechanism, enables the system to effectively govern itself. By staking 10,000 native coins, network nodes secure voting rights, giving them the ability to influence potential platform alterations. This remarkable combination of decentralization and democratization firmly positions the Celo blockchain within the esteemed tradition of decentralized finance.

CELOCelo

Migrating from its Layer 1 blockchain to Celo Layer 2