NEO Is in Talks to Integrate Celer Network to Improve Scalability

Blockchain project NEO is considering integrating Celer Networks layer-two scaling protocol to improve scalability.

Blockchain project NEO is considering integrating Celer Network’s (CELR) layer-two scaling protocol to improve scalability.

Faster transactions, more possibilities

As industry-focused news outlet Crypto Briefing reported on Aug. 17, John Wang, NEO’s director of Eco Growth, said that integration with Celer is under discussion. Celer’s platform is a solution that enables faster off-chain transactions both for payments and generalized off-chain smart contracts. 

To transfer value across the network, Celer uses its native CELR tokes. According to the report, community members say that Celer is fifteen times faster than Bitcoin’s (BTC) Lightning Network. Commenting on the development, Wang said:

“A public blockchain is more than a currency: it needs to have the infrastructure for lots of users to come to it … to enable people to do anything.”

New prospects for scaling

In March, major crypto exchange Binance’s token launch platform, Binance Launchpad, completed a $4 million sale of CELR tokens, following two other initial coin offerings such as the BitTorrent (BTT) token sale in January and the Fetch.AI (FET) token sale in February.

Earlier in August, blockchain-based decentralized application platform (DApps) Tron (TRX) released a sidechain scaling solution, the V1.0 code, designed to enhance and ensure the supposedly unlimited scaling capacity of the Tron mainnet. This will purportedly let DApps consume less energy and run with higher security and efficiency on Tron.

Source: Cointelegraph.com

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Passionate about Crypto-Currencies and Bitcoin enthusiast. Oliver is an Editor on Crypto Cool News.

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