Celo: The "Mobile First" Blockchain Platform

Celo is a mobile-first platform that makes financial dApps and crypto payments accessible to anyone with a mobile phone - https://celo.org/

The blockchain project makes cryptocurrencies available to everyone by simplifying the payment process. Rather than using complex, long strings of letters and numbers as blockchain addresses, users of Celo are able to send and receive cryptocurrencies using their mobile phone number.

The Celo team simplified the user experience by getting rid of the clunky public keys on the user side and replaced them with the mobile phone numbers that most of us are used to. They are also far easier to remember and to type into a form as an address.

Using mobile phone numbers as addresses also allowed the team to develop a blockchain with far lower resource usage when compared with many modern blockchain solutions. This low resource design is key for increasing usage in areas where resources are scarce.

While Celo appears very simple for the users, on the backend it is just as technically sound as any competing blockchain project. Built using the Go implementation of Ethereum, Celo uses a Proof-of-Stake consensus algorithm. The founders chose PoS for its light resource usage. The system uses both validators and nodes to verify transactions and to ensure the network remains secure.

Celo is currently using a Byzantine Fault Tolerant consensus algorithm where a defined set of validator nodes are used to reach agreement on the validity of transactions posted to the network. This consensus method can reach agreement on the validity of transactions even when one-third of the nodes are malicious, faulty, or offline.

Information source: CoinDailyNews: Celo Review: The “Mobile First” Blockchain Platform

What is the Celo Platform?

What is CELO?

What can Celo Dollars do?

Disclaimer: This article is provided for informational purposes only and not offered or intended to be used as legal, tax, investment, financial, or any other advice.