SAN FRANCISCO — Celer Network, an advanced layer-2 scaling platform, today announces the strategic partnership with Conflux, the next generation blockchain protocol that optimistically processes concurrent blocks without discarding any as forks. It is the first and only Proof of Work (PoW) and Tree Graph (TG) structured public chain system that realizes a high transactions per second number, or TPS number (3000–6000TPS under real-time network testing without sacrificing decentralization). Integrating Celer’s layer-2 scaling solution with Conflux’s novel consensus algorithm, the partnership aims to boost the mass adoption of decentralized applications and equip developers with tools to tackle blockchain scalability, security and extensibility.
With solid technical team background, Conflux mission is to create the next generation of distributed systems. Core team consists of an array of top-grade scientists, led by Co-founder Dr. Fan Long, an MIT Ph.D. holder & ACM SIGSOFT Award winner, and Chief Scientist and Turing Award Winner Prof. Andrew Chi-Chih Yao. The team believes the value of truly decentralized blockchain system is phenomenal, which could be the next generation revolution. Therefore, Conflux will encourage the incentive programme for developers to break through on mass adoption of blockchain. Conflux has launched testnet one month ago, and community activity plan is now undergoing.
In the traditional, single-layered blockchain architecture, blockchain system faces a well-known challenge called “scalability trilemma” — it is implausible to build a blockchain that achieves scalability, decentralization and security all at once. “Layer 2”, or off-chain platforms in its formal name, are infrastructures built on top of underlying blockchains designed to break such trilemma, facilitating a new level of scalability, privacy and usability for the broader ecosystem. Advantages of off-chain solutions over other scaling solutions lie in its instant finality and low cost, with no compromise to decentralization.
As a leading layer-2 scaling platform, Celer Network enables fast, easy and secure off-chain transactions for payments and generalized off-chain smart contracts, which has already achieved 10,000X transaction latency reduction compared to transactions on blockchain. More significantly, Celer’s layer-2 technology-driven dApp gateway mobile application CelerX has a strong focus on refining user experience and expanding development framework features, which has gained 18,000 monthly active users from 88 countries with a 20% 7-day retention rate.
Celer Network and Conflux share the same vision on layered architecture and mass adoption of blockchain technology. Both parties have been in constant discussion on technical integration, seeking more interactive user experience and higher throughput performance.
Dr Fan Long, co-founder of Conflux says, “ A blockchain protocol cannot sacrifice the decentralization for high performance, meanwhile the interactive user experience is essential to mass adoption. Celer is a leading a layer-2 scaling platform to provide users with interactive and smooth experiences in the decentralized world at minimal cost. Conflux is keen to integrate Celer’s layer-2 scaling technology into our ecosystem and collaborate with the great team from Celer to provide necessary features to support layer-2 better from the layer-1 blockchain . We believe the cooperation between Celer and Conflux could take a further step on blockchain technical implementation and blockchain application mass adoption.”
Dr. Mo Dong, co-founder of Celer Network says, “ Blockchain layer-2 scaling platforms cannot succeed without truly decentralized and high-performance layer-1 foundations. Conflux is offering such a foundation with high transaction throughput and convenient developer interface. Celer Network is excited to partner with the Conflux team who share our vision and technical insights. We are impressed by the team’s strong technical background, as well as the new algorithms and systems being developed. We believe Celer + Conflux will further push the boundary of blockchain application and adoption.”
The partnership will start off from an initial integration of Celer Network’s generalized state channel functionality with Conflux’s blockchain protocol, with details such as design pattern and technical integration to be settled upon final research and discussion of both parties.
As both parties get a deeper understanding of technology stack of each other, Celer and Conflux plan to jointly provide a development kit in the near future, enabling developers to easily build dApps on Conflux with Celer’s off-chain potential. Meanwhile, both parties will continue to educate the global community by co-hosting educational events and posting videos on the need for a layered blockchain, its technology, design pattern, and usage pattern.
Celer Network: Windy Wang, firstname.lastname@example.org
About Celer Network
Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics. For more information, visit: https://www.celer.network/and join the official Celer Network community on Telegram: http://t.me/celernetwork.
Conflux is a blockchain technology company focused on the development of technologies and infrastructure for distributed systems. The Conflux Chain is up to now the first and only public chain system that can achieve high TPS, 3000–6000TPS under real-time network testing, meanwhile not sacrifice decentralization. Conflux adopts Proof of Work (PoW) mechanism as the basis of its consensus, and delicately combining its unique and advanced algorithm with a novel Tree Graph (TG) structure. For more information, visit: https://www.conflux-chain.org.