Cryptocurrency Q&A
What chain is Celo on?
What chain is Celo on?
noah_wright_author
Sun Jun 30 2024
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6 answers
1560
Could you please elaborate on the blockchain technology that Celo utilizes? I'm curious to understand the underlying infrastructure that powers this innovative cryptocurrency platform. Specifically, I'm wondering if Celo is built on a well-known blockchain like Ethereum, or if it has a unique, proprietary blockchain design. Your insights would greatly help me in gaining a deeper understanding of Celo's technological foundations and how it compares to other cryptocurrencies in the market. Thank you for your time and expertise in this matter.
6 answers
SamsungShiningStar
Tue Jul 02 2024
CELO, the native currency of Celo, exhibits a unique duality in its functionality.
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SolitudeSeeker
Tue Jul 02 2024
It serves as both the fundamental unit of value within the Celo ecosystem and an ERC-20 compliant token on the Celo blockchain.
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Emanuele
Tue Jul 02 2024
This compliance with the ERC-20 standard allows CELO to be utilized in a wide range of decentralized applications and smart contracts on the Celo network.
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IncheonBeautyBloomingRadiance
Tue Jul 02 2024
However, it is important to note that Celo assets, including CELO, exist on an independent blockchain.
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henry_rose_scientist
Mon Jul 01 2024
This separation ensures the integrity and security of the Celo network while allowing for interoperability with other blockchains.
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