Celo is a blockchain that is designed for mobile use and aims to make DeFi accessible for everyone. The blockchain was created in 2017 by a group of experts, who were executives at GoDaddy, Rene Reinsberg and Marek Olszewski, alongside MIT professor Sep Kamvar, and Google executive Marek Olszewski. Its fundraising attracted the attention of notable ventures like Andreessen Horowitz.
Celo is the blockchain that uses PoS as its main and only consensus mechanism. The operation of the network revolves around two types of tokens, CELO and Celo proprietary stablecoins. While the former is used for governance and staking, the latter facilitates quick, easy, and secure DeFi activities around the world via mobile phones. It is the first blockchain that focuses on the mass of mobile users.
CELO’s total supply is 1 billion and its circulating supply is 473.4 million.
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