summary: Celer Network is an Internet-scale, trust-free, and privacy-preserving platform where everyone can quickly build, operate.
content: Celer Network is an Internet-scale, trust-free, and privacy-preserving platform where everyone can quickly build, operate, and use highly scalable decentralized applications. Celer provides unprecedented performance and flexibility through innovation in off-chain scaling techniques and incentive-aligned crypto-economics. Overview Celer Network embraces a coherent and loosely coupled architecture with clean abstractions that enable rapid evolution of each component, including a generalized state channel and sidechain suite that supports fast and generic off-chain state transitions; A highly efficient state channel payment routing protocol that achieves an order of magnitude higher throughput compared to state-of-the-art solution A hybrid rollup sidechain that offers users tunable tradeoff on trust performance, and features. New crypto-economic models that provide strong security, high availability, stable liquidity, and network effect for the off-chain ecosystem. Layer-2 blockchain scaling Celer Network consists of a group of layer-2 scaling mechanisms running on top of existing and future blockchains. Blockchain technologies offer a foundation to dramatically expand the scope and freedom of global information sharing and value transfer. CN team envision a future with blockchain-powered decentralized ecosystems where people, computers, mobile, and IoT devices can perform secure, private, and trust-free interactions at a massive scale. Layer-1 blockchains such as Bitcoin and Ethereum are slow because each operation needs to be processed by most of the nodes to reach on-chain consensus. New on-chain consensus improvements such as sharding and various Proof-of-X mechanisms are continually getting proposed and developed. They make the layer-1 blockchains relatively faster with different tradeoffs but cannot change the fundamental limitations of on-chain consensus. Celer cryptocurrency Celer Network’s mechanism, cEconomy, is designed based on a fundamental principle which is good crypto-economic (token) model should provide additional values and enable new game-theoretical dynamics that are otherwise impossible. While gaining scalability, an off-chain platform is also making tradeoffs on network liquidity and state availability, and it will never take off without a crypto-economic model that can enable new dynamics to balance out these tradeoffs. 