Introduction
In this tutorial, we will explore why Celo is a unique and exciting platform. We will discuss the background of Celo, its founding team, and the values that differentiate it from other crypto communities. Additionally, we will delve into the technical innovations of Celo and its mission-oriented approach.
The Origin of Celo
- Pre-Celo Days: In 2017-2018, there were early discussions and pitches about the ideas that eventually led to Celo.
- The Founding Team: The Celo team was comprised of technically brilliant individuals who were motivated by the right things and had a differentiated world view.
- Differentiation in the Crypto Community: The Celo community stood out from the crowd during the peak ICO Mania period, as it was filled with good actors driven by long-term goals.
The Unique Community of Celo
- Values and Vision: The Celo community’s discussions and projects focused on topics like financial systems in the developing world, collaboration with organizations like the UN World Food Program, and the concept of refi (rather than defy).
- Differentiated Approach: The Celo community’s values align with those of the founders, resulting in a unique and differentiated ecosystem.
Technical Innovations of Celo
- L1 Consensus and Infrastructure: Celo’s core Layer 1 (L1) consensus and infrastructure have proven to be reliable, with minimal downtime.
- Innovations in Payments: Celo introduced innovations such as the ability to send money to phone numbers without the recipient needing to be on the network, as well as the use of tokens to pay for gas, making payments more feasible.
- On-Chain Governance: Celo’s on-chain governance was a pioneering feature, allowing the community to come together and make decisions. This governance model has been adopted by few Layer 1 platforms.
Mission Alignment and Future Initiatives
- Carbon Negativity: Celo’s commitment to being carbon negative and its governance proposal to achieve this goal demonstrate its mission alignment and long-term orientation.
- Refi and On/Off Ramping: Celo aims to become the home of refi, with a focus on open API standards for on and off-ramping. The Connect the World initiative enables integration with thousands of local banking relationships in a compliant manner.
- Technological Advancements: Celo continues to evolve with Solo 2.0, showcasing ongoing technological innovation and staying ahead of other emerging platforms.
Conclusion
Celo’s uniqueness lies in its community, values, and technical innovations. With a focus on mission-oriented initiatives, Celo aims to revolutionize financial systems and promote financial inclusivity. By understanding the background and core strengths of Celo, you can appreciate why it is a platform worth exploring and supporting.