Celer Network to Hold AMA on X on February 27th

Celer Network will host an AMA on X with Kinetex Network on February 27th at 16:30 UTC. The discussion will focus on Kinetex Network’s utilization of Celer’s technology.

Refer to the official tweet by CELR:

CELR Info

Celer Network is a multi-layered platform designed to enhance the scalability of blockchain projects. The platform provides developers with tools to create fast, secure, and reliable decentralized applications (dApps).

Celer Network is built on off-chain technology, which allows transactions to be conducted outside the main blockchain network, significantly increasing transaction speed and reducing gas costs. The off-chain technology makes the Celer project particularly useful for gaming, financial applications, micro-payments, and other high-throughput applications.

The main idea is to separate the transaction execution process from the confirmation process. This is achieved by creating "off-chain" channels between participants who can transact with each other without needing to interact with the main blockchain network every time. These transactions can then be "settled" into a single transaction and recorded on the main blockchain.

Celer Network utilizes a native token, CELR, which is used to pay for services within the network and incentivize network participants.