Introduction to Celo

Celo is a blockchain platform designed with a strong focus on financial inclusion, particularly targeting the unbanked and underbanked populations globally. Unlike many other blockchain platforms, Celo is mobile-first, meaning it’s optimized for smartphone use, which is crucial in regions where mobile phones are more prevalent than traditional banking infrastructure.

How Celo works:

Celo is an emerging Ethereum Layer-2 and mobile-first blockchain network built for the real world and designed for fast, low-cost payments worldwide. The Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo Platform), the CELO native token, USDC, and USDT (both enabled as gas currencies), several Mento stable assets (cUSD, cEUR, cREAL, eXOF), and popular, blue chip infrastructure including Uniswap V3, Curve, Chainlink, and Rarible, among others. Launched on Earth Day in 2020, the open-source Celo mainnet supports a rich ecosystem of projects (1,000+) contributing to Celo’s global mission of prosperity for all.

Key Components:

• Celo Blockchain: Facilitates smart contracts and transactions.

• Mento Stablecoins: Celo Dollars (cUSD), Celo Euros (cEUR), Celo Real (cREAL), eXOF.

• Celo Wallet: Mobile-friendly wallets like Valora for easy access.

Unique Features:

1. Mobile-First: Designed for easy use on smartphones, ideal for regions with limited banking access.

2. Stablecoins: Uses cUSD and cEUR to avoid cryptocurrency volatility.

3. Phone Number Mapping: Links phone numbers to wallet addresses for simple transactions.

4. Carbon Negative: Committed to sustainability and financial inclusion particularly in regions most vulnerable to climate change.

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