Celo

Celo is an environmentally friendly blockchain that is open to everyone and supports a broad ecosystem of worldwide collaborators creating cutting-edge Web3 applications to foster a more equitable financial landscape. Accessible via mobile phones, Celo's ecosystem includes a decentralized, proof-of-stake blockchain infrastructure (known as the Celo platform), the CELO governance token, and multiple Mento stablecoins (like cUSD, cEUR, and cREAL) enabling practical use of digital assets. Celebrating its launch on Earth Day in 2020, the Celo mainnet is open-source. The community has approved a proposal for Celo to transition to an Ethereum layer-2 solution. Major companies such as Google Cloud, Deutsche Telekom, and Telefonica are among the validators running on the Celo platform. Currently, more than 1,000 projects spanning over 150 countries are built on Celo, all contributing to global prosperity. For further details, check out Celo.org.

Celo was established in 2017 by Rene Reinsberg, who serves as the President of the Celo Foundation; Marek Olszewski, the current Chief Technology Officer at cLabs; and Sep Kamvar, a computer scientist, artist, and former professor at MIT Media Lab.

Celo stands out as a carbon-negative, permissionless blockchain that accommodates the CELO governance token and additional ERC-20 Mento stablecoins, which can be utilized for transaction fees. With its ability to connect across different blockchain systems and its aim to foster global prosperity, Celo is well-positioned to bring regenerative finance (ReFi) to the forefront, enhancing global financial accessibility, community commerce, and climate-friendly technologies across diverse ecosystems simultaneously.

A noteworthy aspect of Celo is its status as one of the first carbon-negative blockchains worldwide. It uses a proof-of-stake system that consumes far less energy than proof-of-work blockchains. The Celo community is deeply committed to environmental sustainability, partnering with the Climate Collective, a growing alliance of companies working at the intersection of Web3 and climate initiatives. Moreover, the Mento Reserve, backed by the Mento Protocol, provides users on the Celo blockchain access to a variety of stable assets and aims to have 40% of the Reserve in natural capital-backed assets within four years.

Another standout feature is Celo's mobile-oriented approach, designed to reach billions of users globally. This includes Plumo, a light-client synchronization system based on zk-SNARK technology, which enables mobile users with limited resources to connect to the Celo blockchain swiftly, using minimal data. It also maps encrypted phone numbers to wallet addresses, making it easier to send digital assets to contacts. Additionally, users can access an array of decentralized apps like the Valora Wallet using low-powered smartphones. These innovations simplify blockchain transactions for users of all backgrounds.

For more insight into what makes Celo unique, explore their technical documentation and GitHub resources.

The CELO governance token has a fixed cap of one billion tokens. These tokens are distributed between the Mento Reserve and the community of CELO holders.

Celo relies on a proof-of-stake consensus mechanism for its blockchain. The CELO governance token is pivotal in securing, expanding, and developing the platform, as it enables holders to stake their tokens in favor of Celo Validators, vote on proposed technological changes or additions by community members, and engage directly with decentralized apps on the Celo network.

Validators are crucial, as they actively participate in the consensus process on the Celo platform. They ensure the security of the Celo network by independently verifying transactions and suggesting new blocks to be added to the blockchain.

CELO can be bought using fiat currency on exchanges like Binance, Coinbase (where it's listed as CGLD), KuCoin, OKX, and others. Additionally, Celo is accessible through global onramps such as MoonPay, Ramp Network, and Simplex/Nuvei.