The purpose of the Celer Network is to facilitate the off-chain handling of transactions while unleashing blockchain’s full potential. It is based on a layer-2 scaling solution that is a networked system - rather than a separate blockchain - to enable simple, secure and fast off-chain transactions for both smart contracts and payments and to revolutionise output of DApps. The network constitutes a part of the ecosystem of Polkadot and is set up on the Substrate framework. Celer Network’s token, CELR, is based on the ERC20 token standard. Use cases of CELR include the payment of commission fees for service and transactions to off-chain providers, staking in the State Guardian Network that secures the Celer network, acquiring status as a Celer State Guardian and various other purposes regarding liquidity.
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