Celo is a blockchain platform that aims to create a more inclusive financial system by enabling fast, secure, and low-cost mobile transactions. It was founded in 2017 by a team of entrepreneurs and technologists with the goal of leveraging blockchain technology to provide financial services to people around the world who lack a
Celo focuses on mobile devices as the primary interface for accessing financial services. The platform provides a decentralized infrastructure that enables users to send and receive digital currencies, access decentralized applications (DApps), and participate in various financial activities, such as lending and borrowing, saving, and earning interest…
Celo operates on a Proof-of-Stake (PoS) consensus mechanism, where validators secure the network by staking Celo’s native cryptocurrency called CELO. Validators are responsible for validating transactions, maintaining the blockchain, and participating in governance decisions. By utilizing PoS, Celo aims to achieve scalability, energy efficiency, and accessibility…
Celo has also established the Alliance for Prosperity, a network of organizations and individuals dedicated to advancing financial inclusion and building applications on the Celo platform. The alliance aims to collaborate on projects that promote economic empowerment and improve financial access for underserved communities globally.