What is Celo Project
The Celo Project is a platform that hosts smart contracts and decentralized applications. Celo gives users access to decentralized finance (DeFi). The platform uses CELO token to pay network fees and vote in the Celo protocol. Celo aims to make financial tools borderless and accessible to anyone
In its early days, the Celo cryptocurrency was known as Celo Gold (CGLD).
The first stablecoin supported by the Celo project is the “Celo Dollar” or abbreviated as (cUSD). These currencies follow the path of the US dollar and their value remains close to $1.
Who is the team behind the Celo project?
The Celo Project is the result of a combination of the experience and knowledge of many people with years of practice in their profession. The project is led by three main co-founders:
Rene Renzberg.
Marek Olszewski.
Sepp Kamvar is the inventor of the EigenTrust system.
CELO cryptocurrency is a solution for everyone, as it is available in all regions of the world. This is especially true for people in areas where access to banking services is very limited or non-existent. The Celo project hopes to bridge the gap between blockchain entrepreneurs and smartphone owners. To do this, it relies on the principles of decentralized finance (DeFi) and the creation of decentralized finance applications (DApps).
Its advantages include ease of use:
Because the project is optimized and directed to phones in general.
