CELO is a proof-of-stake token used for transaction fees, governance participation and related activities. In future, the platform aims to host various stablecoins, with one, the Celo Dollar (CUSD), already in use. Celo is a blockchain protocol that aims to address some of the barriers to cryptoasset adoption (user experience and volatility) by using phone numbers as public keys and issuing a native stable-value token. Celo Dollars (CUSD) are a stable asset that follows the US Dollar. Celo is an open and decentralized platform that makes financial tools accessible to anyone with a mobile phone. With CELO, you can engage with the network (by voting & staking) and help to shape the direction of the Celo Platform. Celo’s ledger consists of accounts, identified by an address. There are two types of accounts. Externally owned accounts have an associated CELO balance and are controlled by a user holding the associated public-private keypair. Contract accounts contain the code and data of a single smart contract which can be called and manipulate its own stored data.
Original author – Rene Reinsberg
Initial release – April 2020
Development status – Active
Website – celo.org