Celo's Purpose
Celo was designed to enable a new universe of financial solutions accessible for mobile users and takes a mobile-first approach that provides the opportunity to positively impact 6B+ smartphone owners globally, creating a global financial ecosystem where an end-user can onboard into the Celo ecosystem with just a mobile number.
Celo’s technology innovations allow it to truly work across devices, carriers, and countries. Scalable, fast, and inexpensive: Celo uses a novel Proof-of-Stake (PoS) consensus protocol, a hyper-efficient light client, and full node incentives for scalability. With its interoperability, cross-chain compatibility, and vision for currency inclusivity, Celo enables digital assets to circulate at extremely low costs and high speeds across devices, carriers, and countries, making money mobile, global and accessible like never before. Inclusive: Celo is supported by a mission-aligned network of technologists and international organizations committed to building an inclusive financial system that creates the conditions for prosperity—for everyone.
Mobile#
Celo’s mobile-first approach to user-first decentralized finance (DeFi) means everyone has equal access to powerful financial tools and services – no matter who they are or where they live – creating convenient, financial opportunities for anyone who is online and on their mobile phones.
User-first with phone number PKI#
Mobile phone number mapping to public keys for a seamless user experience on platform-native dApps, like impactMarket or Valora
Ultra-accessible with Ultralight Mobile Client#
Means Celo’s 5s block times that are 17000x faster than other blockchains and able to process transactions even in areas with low internet speeds
Industry-leading speeds with Plumo#
[FORTHCOMING] SNARK/Plumo will = 1mm times faster than other blockchains
Open#
With its interoperability, full EVM compatibility, and vision for currency inclusivity, Celo’s open-source infrastructure now supports 1000+ projects from builders, developers, and even artists, who every day create new applications and issue digital currencies from 100+ countries around the world.
Interoperable with Optics#
The Optics standard will allow Celo to facilitate transactions between other layer 1s like Ethereum, Bitcoin, Cosmos, Solana, and Near, meaning Celo’s ecosystem of developers can connect the people, services, and technologies that allow everyone to benefit from a more open and connected blockchain ecosystem.
On-chain governance with CELO#
Celo is turning crypto into usable money with a multi-asset system: a growing family of native and wrapped stablecoins and CELO, the native governance and staking asset (CELO) that allows anyone to help shape the future of Celo.
Sustainable with staking#
Celo’s Proof-of-Stake (PoS) consensus mechanism and automatic daily carbon offsets make Celo the world's first carbon-negative blockchain, offsetting over 2,285 tons of carbon to-date.
Real#
Using the power of mobile-first DeFi to solve real problems for real people, Celo has made blockchain’s vision for a globally accessible decentralized financial system a reality. With Celo’s reliable 5 second block times, low gas fees payable in stablecoins, and decentralized phone verification protocol, it’s no wonder companies and organizations like Deutsche Telekom, Opera, and the Grameen Foundation are working with the Celo ecosystem to drive adoption of Celo’s technology in the real world.