CELO Coin is a cryptocurrency belonging to a decentralized blockchain platform that allows users to access electronic financial services. What makes this platform special is its design, which enables anyone with a smartphone to gain access.
For more interesting information about Celo Coin and its platform, please take a moment to follow the content from AZcoin.
What is Celo?
To start, let’s discuss the Celo platform. It is a unique decentralized blockchain platform designed to allow anyone with a smartphone to access electronic financial services. This platform not only builds a monetary system that enables users to make payments via their phones faster and at lower costs, but also provides global access 24/7.
Additionally, Celo introduces a way for users to leverage their phone numbers as a public digital key. This feature significantly simplifies the payment process, thereby attracting more new users.
The main goal of Celo is to become a decentralized platform not controlled by any single individual or organization. Instead, it aims to be developed, upgraded, and operated by a broad community of individuals, organizations, and businesses.
What is remarkable about Celo?
The following is a quick summary of the most notable features of the Celo platform, including:
- Diverse Currency Support: The platform supports various stablecoins like USDT, EURC,… facilitating the use of Celo as a payment method and allowing transaction fees to be paid with any stablecoin of the user’s choice, thus avoiding the need to manage balances across multiple currencies.
- Phone Number Linked Accounts: The platform maintains a secure hierarchical system of phone numbers, enabling users to send and receive payments from their existing contacts easily.
- Fast Synchronization: The platform provides quick and secure synchronization between mobile devices, even for users with slow internet connections, low bandwidth, or high data costs.
- EVM Compatibility: Celo includes a highly compatible smart contract platform with Ethereum, allowing it to offer rich features to users and support a diverse ecosystem of third-party applications and extensions.
- Full Control: Users on the platform have full access and control over their assets and private keys, without needing to rely on third parties to make payments.
- Celo Protocol: The platform offers incentives for running nodes on mobile devices, allowing users to earn coins or tokens by providing device resources.
Celo’s development team and investors
Development team
According to information shared by the project itself, behind the development of Celo is a team of over 100 members, including experts working from around the world.
Among the members of the project, one name you should particularly note is Rene Reinsberg, the founder of the Celo Foundation, the organization responsible for managing and developing the Celo project.
Investors
Also, from the information shared by the project itself, we know that Celo owns a quite strong early backer group with more than 80 companies and individuals such as a16z, Coinbase, Polychain Capital,…
What is the CELO Coin?
CELO Coin is currently the official token of the Celo platform and is mainly used for platform activities and events.
Specifications
- Token Name: CELO
- Ticker: CELO
- Blockchain: Celo Blockchain
- Token type: Utility, Governance
- Total Supply: 1,000,000,000 CELO
- Circulating Supply: 141.166.010 CELO
Distribution rate
CELO Coins are currently allocated in the following proportion:
- Staking & Validator Rewards: 30%
- Community Grants: 19.5%
- Protocol Contributors: 18.5%
- Pre-launch Sales Purchasers: 12.5%
- Initial Reserve: 12%
- Operational Grants: 7.5%
CELO Coin Use Cases
CELO Coin can be used for the following main tasks:
- Participate in governance voting.
- Staking to receive rewards.
- Pay transaction fees within the network.
How to own a CELO Coin?
To own CELO Coins, you can try the following 2 ways:
- Staking to receive rewards.
- Buy on exchanges.
Besides, if you are looking for a place to trade CELO Token, the best crypto exchanges we recommend for you are Binance, Bittrex, OKEx, Hoo,…
Where should CELO Coin be stored?
If you own CELO Coin and need a place to store it, use the wallet from the exchange you used to buy this token.
Conclusion
Finally, we have come to an end together. Here is all the information we can compile and share with you. Thank you for taking the time to follow and see you again in other content from AZcoin.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
