In one year, Celo has a 5,000% growth in transactions

The moment of exponential growth in the use of blockchain technology can be easily seen in the annual results released by Celo, an open source blockchain ecosystem focused on financial inclusion: a 5,115% increase in blockchain transactions in the period of one year.

Other Celo data in 2021 came in superlatives, such as reaching 2.65 million wallet addresses, a growth of 5,916% over the previous year. The developer community grew by 619% in the period, to 3,957, with 848 active developers. In addition, the Celo ecosystem reached the mark of 375 thousand members, representing 135 countries.

“We are proud to know that everyone’s efforts have paid off. We are empowered by the growth and success of the Celo community and our ecosystem partners. Each achievement is a true testament to the passion and drive of the global Celo family, and we are just beginning to enable a future where everyone can use Web3 technology in their daily lives,” says Camila Rioja, Latam Lead at Celo.

stablecoin cREAL

In the wake of a global movement to create stablecoins, last year Celo launched the Brazilian real-pegged algorithmic stablecoin called Celo Real (cREAL), which provides a way to use complementary decentralized finance (DeFi) applications that can help to enable new options for building a credit history.

For Camila Rioja, the rate of adoption of cryptocurrencies in high-growth markets, in particular Brazil, not only signals a growing enthusiasm for this new digital economy, but also the advancement of real-world use cases. “The traction, combined with Brazil’s regulatory, market and community conditions, uniquely positions it as an environment where a project like Celo will thrive,” she notes.

“As we approach five years of work at Celo, we celebrate a buzzing community of thousands of amazing projects and applications and proudly recognize over 11.9 million total addresses and over 121.9 million transactions processed on the Celo blockchain. to date”, celebrates Rene Reinsberg, president of the Celo Foundation.

“I am especially proud that, despite the ever-changing economic cycles and rapid growth of the ecosystem, Celo remains strongly focused on the original mission formulated at the end of 2017: to create a financial system that creates the conditions for prosperity – for all”, ends.

Learn about some use cases of the Celo ecosystem:

dapps – Celo’s first use case was an infrastructure that powers peer-to-peer payments, the first decentralized applications (dapps). The Valora mobile app is one of them: Users can easily and instantly send and receive value from anywhere in the world for as little as $0.01 per transaction, making international money transfers cost-effective and accessible to anyone with a cell phone. Today, projects developed at Celo allow people to trade, lend, borrow, save and earn rewards with their cryptocurrency assets.

DeFi for the People – Launched last August, DeFi for the People helps provide anyone with a cell phone and an internet connection access to the same financial tools and services used by the richest 1%, including credit and stable, low-income opportunities risk in order to make DeFi accessible to the 6 billion mobile phone users worldwide.

Climate Collective – In October, the community-led Climate Collective was launched with the aim of allocating at least 40% of Celo Reserve to nature-supported assets, including protected forests, by the end of 2025. The collective, which counts 10 companies at launch , is planning that within the next 4 years these tokenized trees will be added to the Celo Reserve so that Celo stablecoins can be supported in part by tropical forests that are essential in the fight against climate change.

ReSource – Also in 2021, community efforts to enable digital business transactions across the Celo ecosystem expanded. The ReSource mutual credit protocol was launched on the Celo blockchain, and one of the most important developments of the year took place in early December, when the popular crowdfunding platform Kickstarter announced its plans to build a decentralized, open-source version of its application on Celo.