What is Celer Network (CELR)?

Celer is a multi-blockchain interoperable protocol that provides users one-click access to tokens, DeFi, GameFi, NFTs, governance and more across multiple chains. It also allows developers to build inter-chain native dApps using its Inter-chain Messaging SDK and benefit from a diverse multi-chain ecosystem. Celer uses a version of the Proof-of-Stake (PoS) blockchain called the State Guardian Network (SGN) to facilitate cross-chain transfers with security and fast finality at a low cost.

CELR is the native token of the Celer Network with multiple utilities. It acts as the platform's staking asset, allowing its owners to become delegators and validators in the SGN consensus to earn incentives. Users of SGN in Celer must pay a fee in CELR that rewards validators and delegators. CELR is also the governance token through which users can vote on suggestions about the updates and the protocol changes. It has a maximum supply of 10 billion tokens.

How Does Celer Network (CELR) Work?

Celer network uses a mix of existing layer-2 solution approaches and its own creations to facilitate its multi-chain infrastructure. For example, it leverages state channels, used by Bitcoin’s Lightning Network, to provide instant and low-cost transactions. However, Celer mixes these channels with a new Distributed Balanced Routing algorithm to boost its throughput further.

It also uses a different version of proof-of-stake (PoS) consensus, called State Guardian Network (SGN), built on Tendermint. It serves as a message router between different blockchains for all Celer products. Additionally, five other important architectural elements in Celer make it stand out: cChannel, cRoute, cOS, Celer Inter-Change Message (IM) Framework, and cBridge.

cChannel in the Celer network is the base or bottom layer that employs two off-chain scaling solutions: state channels and sidechains. State channels work like the Lightning network, while side chains take inspiration from Polygon. On the other hand, cRoute is the routing approach used by the Celer network. It is also popular as Distributed Balanced Routing (DBR), an algorithm built to solve the problems in state channel solutions to achieve higher throughput than before. Then comes the cOS, a user-friendly application development framework and runtime used to create scalable off-chain DApps on Celer Network. It helps developers focus on building great user experience without worrying about the technical complexities related to scaling.

Next comes the Celer Inter-chain Message Framework (IM), which verifies the cross-chain messages sent from one chain and transfers them to another using SGN. With its help, users can send tokens and various data in a single transaction. Last is the cBridge, which facilitates cost-effective value transfers across layer-1 and layer-2 blockchains.

How to Buy Celer Network (CELR) in India?

There are many platforms where you can invest and Buy CELR in India.
One such platform is Flitpay. To buy CELR in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy CELR crypto and execute the purchase.

You can instantly convert your INR to CELR and CELR to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Celer Network (CELR)?

CELR can be used to buy other cryptocurrencies after converting it to INR through crypto exchange platforms like FLITPAY. You can also hold the CELR till it reaches a high price, and then you can sell for INR instantly through Flitpay’s Quick Buy/sell.Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is Celer Network (CELR)?

CELR is the native token of the Celer network. It is used to pay fees on acquiring services of Celer Network. This fee goes to the validators and delegators of the network as their incentive to support network security. CELR is also the governance token on the Celer network with a capped supply of 10 billion CELR.

What is the Celer Network (CELR) price in India?

Check out the INR price of CELR crypto in India today on Flitpay.

Which is the best cryptocurrency exchange in India to buy CELR?

Flitpay is the best cryptocurrency exchange in India to buy CELR, buy Uniswap, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

How to buy Celer Network (CELR) crypto in India?

You can easily buy CELR in India on the safest crypto exchanges like Flitpay, with the lowest fees.

To buy CELR coin in India:

1. Register on Flitpay and create an account.
2. Verify your identity through Know-your-customer (KYC)
3. Add INR or Fiat currency, corresponding to the amount of CELR you want to buy.
4. Instantly buy CELR with the deposited funds.

What are the benefits of Celer Network (CELR)?

Celer Network (CELR) offers comprehensive benefits that make it a standout solution in the blockchain space. Its multi-blockchain interoperability protocol allows users to access different digital assets across different chains seamlessly. Celer network leverages state channels, sidechains, and innovative routing algorithms to ensure high throughput and scalability. Its native token, CELR, serves dual purposes as a staking asset within the State Guardian Network (SGN) and a governance token.

Is it safe to invest in Celer Network (CELR) in India?

Yes, investing and trading CELR is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying CELR crypto. It offers real-time prices and advanced investing features.

Where can I deposit and withdraw Celer Network (CELR) crypto in India?

Your search for secure crypto deposits and withdrawals ends here. Flitpay is India's most trusted exchange to facilitate hassle-free and Instant deposits and withdrawals of all the top cryptocurrencies with minimal or no fees.