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Key Concepts

Summary of benefits, features, and data behind the Celo platform.

The Platform for Mobile DeFi​

The Celo protocol provides a platform upon which the Celo community can create stabilized value digital assets. Named for the currencies they follow, Celo Dollars (cUSD) and Celo Euros (cEUR) are stablecoins that allow anyone to share value faster, cheaper and more easily from a mobile phone.

The Celo protocol also includes mechanisms for lightweight identity and ultralight mobile clients.

Innovative tools to build native mobile dApps:

  • Stable Value Currencies
  • Phone Number Public Key Infrastructure
  • On-chain Governance
  • Self Custody
  • Proof-of-Stake
  • Open-source
  • Permissionless
  • High Speed Sync for Ultra-light Clients
  • Gas Payable in Multiple Stablecoins
  • Programmable (full EVM Compatibility)

Optimized for Financial Applications​

Powered by Celo’s industry-leading decentralized phone number verification, payment applications built on Celo allow users to easily send or request digital currencies from any mobile number, anywhere in the world, capable of offering their users features like:

  • Non-custodial wallets
  • Ultra low network transaction fees
  • Digital currency exchange capabilities
  • QR Code Support
  • Mobile first SDK

Core Contracts​

Designed to support an ecology of stable value currencies. The first Mento stablecoin, cUSD, tracks the value of the US Dollar.

  • Algorithmic reserve-backed stabilization mechanism
  • Crypto-asset collateralized
  • Native support for multiple stablecoins

Blockchain​

Open source permissionless smart contract platform built on decentralized infrastructure.

  • Proof-of-Stake based consensus with high throughput, low latency, and zero carbon
  • Incentives for serving mobile devices
  • On-chain governance

Build on Celo​

Visit celo.org to learn more.

Details​

Celo is a mobile-first, carbon-neutral blockchain that makes decentralized financial (DeFi) tools and services accessible to anyone with a mobile phone–bringing the powerful benefits of DeFi to the users of the 6 billion smartphones in circulation today.

**Stable Value Currencies **

Celo includes native support for multiple ERC20-like stable currencies pegged to ‘fiat’ currencies like the US dollar, to facilitate the use of Celo as a means of payment.

**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 simply and with confidence that the payment will reach the intended recipient.

**Transaction Fees in Any Currency **

Users can pay transaction fees in stable currencies so that they do not need to manage the balances of different currencies.

Immediate Syncing Even on Slow Connections

Extremely fast, secure synchronization between mobile devices and the Celo network means that even wallet users with high latency, low bandwidth, or high-cost data tariffs can use Celo. Celo removes the need to check every header before a received header can be trusted. The performance will be further improved with BLS signature aggregation and succinct zero-knowledge proofs, via zk-SNARKs.

Proof-of-Stake

Celo uses a Proof-of-Stake (PoS) consensus algorithm. In comparison to Proof-of-Work (PoW) systems like Bitcoin and Ethereum, this eliminates the negative environmental impact and means that users can make transactions that are cheaper, faster, and where the outcome cannot be changed once complete.

**On-chain Governance **

Since great user experiences and operating a modern networking protocol need iteration and improvement, Celo supports rapid upgrades and protocol changes via on-chain governance in which all CELO holders can participate.

**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. This enables Celo to deliver rich user features and rapidly support a wide ecosystem of third-party applications and extensions.

**Self Custody **

Users have access to and fully control their funds and account keys, and don't need to depend on third parties to make payments.

Metrics​

Validators

110 Globally

Celo has a validator set with a current size of 110 validators. Validators are elected to this set on a daily basis; typically more validators stand for election than seats available. The validator set size may be raised in the future through the on-chain governance process.

You can view more detailed information about the current validator set at stats.celo.org.

Total Blocks

For real-time updates and information, please visit explorer.celo.org

Average Block Time

Celo's average blocktime is 5 seconds. For real-time updates and information, please visit https://explorer.celo.org/

Average User-Perceived Transaction Time Average Network Transaction (Gas) Fee

Transactions are interactions that occur between user addresses and Celo (e.g., transferring funds).

< $0.01 Average Network Transaction Fee

tip

Real-time gas fees are captured in gwei on stats.celo.org.

Circulating Supply

tip

For current circulating supply of cUSD and cEUR please see the section titled ‘outstanding supply’ and reference the top number in black.

3007.7 Tons of Carbon Offset

For real-time updates, please visit wren.co/profile/celo

tip

Tons of carbon offset reflect Celo community purchases of carbon credits by way of funding the Community tree planting project with Wren.