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Try Celo on Blockdaemon Blockdaemon provides full end-to-end node management and staking support for Celo, a blockchain which aims to overcome two of the biggest barriers for large-scale adoption of cryptocurrencies as a payment method: ease of use and purchasing power volatility.

Why Use Blockdaemon? Blockdaemon is the Total Node Management Solution

Blockdaemon guarantees peace of mind, as you never have to worry about maintaining or upgrading your nodes ever again — we look after all of that for you. Our finger is constantly on the pulse of each blockchain we support to ensure all of our nodes remain perfectly healthy. Our extensive experience across protocols lets us expertly monitor, repair and replace nodes where protocol level errors may occur. For any protocol updates needed, we look after these in advance so you never see any disruption in service.

Enterprise Level Security

Security is our top priority here at Blockdaemon. All nodes purchased through us are 100% customer dedicated. This means your node is yours exclusively. You’ll enjoy a dedicated node which has a unique address, its own unique connection and authentication key. Furthermore, these are never reused. We ensure your node is not open and exposed to anyone on the internet. Any nodes you’d like to add on additionally can be done so quickly and easily as well!

A Trusted Partner

Blockdaemon is by your side on your blockchain journey. We are the only infrastructure platform for blockchain nodes which offer multi-cloud and multi-geographical support, with just a few clicks. Want custom configurations and branded experiences? No problem, we provide a unified, whole-org, collaborative rollout to manage a complete network. Whatever your needs, we will work closely with you to deliver the solution you need.

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Celo Key Features

Multi-Asset

Celo provides a platform for users to build stabilized digital assets. The price of these assets are designed to mirror the value of a real-world asset. This protocol is designed to support multiple types of assets, such as world currencies (USD, Euro, etc), commodity prices such as barrels of oil and baskets of goods in certain countries.

Mobile First

Celo is optimal for mobile payments. The Celo protocol combines an address-based encryption protocol that allows a sender to use a phone number or email address directly as a public key, with a reserve-backed stabilization protocol to minimize volatility through an elastic supply rule. Together, these allow for a more seamless experience using cryptocurrencies as a means of payment.

Upgradable

Celo can be upgraded through its governance system, which rewards participants for taking part. Successful votes enable protocol upgrades, such as adding a new stable currency or allowing CELO transfers. A proposal is only passed after a certain threshold of locked CELO holders approve. The process at a high level includes a proposal, approval of this proposal, referendum and finally execution.

Frequently Asked Questions

  • How does Celo achieve asset stability?

    Celo assets mirror the prices of real-world assets by adjusting the supply to match the demand. The Celo reserve can contract supply, whereas adding more tokens to circulation increases the supply. These types of assets have been called a hybrid crypto-collateralization and seigniorage-stye stablecoin model.

  • How do Celo holders participate in consensus?

    Celo uses Proof of Stake (PoS) to select block validators and to participate in governance decisions. Both of these take place through a bonded-stake weighted voting scheme. Any token holder can lock their Celo in a smart contract, which is the bonded deposit. Block rewards are distributed to anyone who participates in validator elections and governance decisions. Celo account holders are responsible for voting on which groups of validators participate in consensus.

  • How are Celo holders rewarded?

    Successfully elected validators are required to put up a slashable bond deposit, participate in the Proof of Stake consensus, send verification messages, participate in the Schelling-point scheme for price discovery, and receive block rewards to cover their costs and as an incentive for their work to maintain the system. Voters can receive up to 6% rewards for voting on validators.

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