Celo, the mobile focused blockchain platform focused on emerging markets like Africa, has revealed that its testnet has recorded 100 million transactions while the mainnet is not far behind at 95 million transactions.
Celo says it is on a mission to introduce cryptocurrency transactions to the billions of smartphone owners across the world looking to reach those without banking access in emerging markets.
Celo blockchain stats currently look like this:
- A ledger closing time of about 5 seconds
- A transaction throughput of 1,000 transactions per second
- An average transaction cost of $0.005405
______________________________________________________________________
SEE ALSO: Celo was the 4th Fastest Growing Blockchain in 2021
______________________________________________________________________
The chain is reportedly one of the cheapest blockchains when compared to other major blockchains:
- Ethereum – $21.41
- Bitcoin – $1.57
- Loopring – $0.46
- Avalanche – $0.45
- Binance Smart Chain – $0.35
- Bitcoin Cash – $0.01
- Polygon – $0.00265
- Solana – $0.00025
The Celo ecosystem consists of:
- A decentralized proof of stake blockhain
- The CELO native asset
- 2 stablecoins – cUSD, cEUR
CELO is a proof-of-stake (PoS) coin that may be used to pay transaction fees, participate in governance, and other related activities.
The network intends to support a variety of stablecoins in the future with 3 stablecoins already in use:
- The Celo Dollar (cUSD)
- The Celo Euro (cEUR)
- The Celo Brazilian Real (cREAL)
______________________________________________________________________
RECOMMENDED READING: Understanding the Polygon Network and its Quest to Become an Internet of Blockchains
______________________________________________________________________
Thank you for your support by helping us create content:
BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT
ERC20 Address: 0x03139524428e40E31f13909f8D994C915FB91277
SOL address: 9cC65AWFHj848kntcoyiT8av3jiRQEqyTTmBR1GvVUb
____________________________________________________________________
Follow us on Twitter for the latest posts and updates
Join and interact with our Telegram community
_____________________
Subscribe to our YouTube channel below for more updates:
_____________________________________________________________
Related
