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The most advanced Blockchain scaling platform? Celer network’s alpha mainnet goes live!

Blockchain scaling platform

The Singapore-based Blockchain technology startup — Celer has announced the public launch of its alpha mainnet dubbed Eridanus. The company claims to be the most advanced layer-2 scaling platform out there, providing a platform for decentralized applications that have very low latency and scalable — according to a blog post

So what’s Celer’s vision?

If there’s a single obstacle that’s preventing the mass-adoption of Blockchain technology — it’s scalability. Currently, available enterprise solutions have serious scalability issues that dissuades companies from adopting them. Celer claims to bring Blockchain scaling solutions to a new dimension and promises “ real-time and zero-fee transactions” and “low-latency interoperability of Dapps”. 

So what’s Celer’s strategy to enable mass-adoption? Blockchain-based games. Enabling both developers and gamers to earn rewards for engaging with the game.

Notably, Celer network has raised a whopping $34 million to date, of which a staggering 70% of the funds were raised in an Initial Coin Offering it launched in 2018. But you’ve likely heard of Celer Network as it debuted its first public token sale, an Initial Exchange Offering (IEO) on the popular IEO platform — Binance launchpad, according to InWara’s Market Intelligence Platform.

Initial exchange Offerings (IEOS) have gained immense popularity in recent times as the go-to method of fundraising and has beaten all other tokenized fundraising models.

Blockchain scaling platform

Source: Blockchain and Crypto report — H1 2019

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IEO projects have collectively raised an eye-watering $1.62 billion during H1 2019, as opposed to the $30 million raised during H1 2018 — a meteoric rise of more than 5300%. Notably, STO projects also raised a cool $419 million during H1 2019, up by 51% when compared to the previous year. 

ICO projects aren’t dead just yet, having raised a whopping $1.32 billion but has depreciated by a staggering 91% YOY. Indicating ICOs are losing popularity as a fundraising model.

 

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