Celer Network Cofounder Partners with #Hashed Labs as Blockchain Gaming Incubation Program Mentor

2 min read

We are thrilled to announce that Celer Network cofounder Dr. Mo Dong joins Hashed Labs as a mentor for the blockchain gaming incubation program.

Hashed Labs is an acceleration program of Hashed, which is the largest crypto assets fund in South Korea with operations based in San Francisco and Seoul. In its inaugural round, Hashed Labs will find early-stage teams developing blockchain-based games. Sharing the same vision that blockchain gaming will play an extremely significant role in bringing blockchain to mass adoption, Celer Network’s Cofounder Mo Dong joins Hashed Labs as a mentor to offer technology and product support with its advanced layer-2 scaling technology for teams in this first incubation batch. In the process of the acceleration program, Celer Network will also hope to expand its consumer reach and developer adoption to the highly vibrant and rapidly growing Korean blockchain community.

Blockchain gaming is widely recognized as the “Trojan Horse” for blockchain adoption because it presents a low switching costs for existing players and offers significant advantages over traditional gaming industry such as self-sovereign ownership of gaming assets, trust-free in-game economics, decentralized governance and direct tie to financial transactions. In 2018, South Korea’s 28.9 million players (close to 60% of the total population) spent a total of $5.6 billion, making it the world’s 4th biggest games market. At the same time, the crypto penetration goes deep with 30% of workers investing in cryptocurrency. These two factors combined make South Korean the perfect place for blockchain gaming development and adoption. Hashed as the biggest crypto asset fund and local community builder is perfectly suited for incubating the global leader for blockchain gaming.

However, today, blockchain gaming developers do face some major challenges. The biggest one is that the lack of scalability significantly limits the possibility of real-time human interaction in game. And human interaction is often the key to a successful game. On top of that, blockchain processing and execution is always costly. As a result, the user interaction experience of blockchain gaming is far from optimal as the gaming process require frequent and high transaction fees of one kind or another.

Celer Network is perfectly positioned to solve these key pain points of blockchain gaming with its layer-2 scaling technology. It offers the possibility to have entirely trust-free and decentralized in-game real-time interaction without any long blockchain confirmation delay. Gaming interaction built using Celer’s generalized state channel framework is also completely free. In addition, Celer Network provides extremely low-cost and low-latency programmable assets and fund transfer functionality that is suitable to use for many different game genres. In fact, Celer has released CelerX, an eSport gaming mobile application using Celer’s technology and will release an eSport Gaming SDK in the coming mainnet launch to further lower the barrier of blockchain gaming development.

“Mo will be a valuable mentor for Hashed Labs program with Celer’s shared vision of blockchain gaming and advanced technology solutions and easy-to-use developer framework to support the teams in the program. We also hope that through this mentoring and interaction process, Celer Network can find synergies with some of the blockchain gaming projects in the batch and therefore expand Celer’s community and user base in South Korea and other parts of Asia.” said KyunTae Ethan Kim, partner of Hashed.

Dr. Mo Dong, cofounder of Celer Network commented: “I am honored and grateful to have the opportunity to serve as a mentor for Hashed Labs blockchain gaming incubation program. I see Hashed perfectly positioned to lead the revolution of blockchain adoption in South Korea and beyond with their focus on developer, local community building and global vision. I am extremely excited to bring Celer’s technology and product to South Korea developers and users.”

Together, we hope to bring mass adoption to blockchain technology.🎉🎉

PR Contact:

Celer Network: Windy Wang, windywang@celer.network

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.

About Hashed Labs

Hashed Labs is an acceleration program for projects creating blockchain based decentralized applications. Hashed Labs promotes the growth of companies who generate real use cases of decentralized technology. In its inaugural round, Hashed Labs will find early-stage teams developing blockchain-based games and applications, and offer multi-layered support in any challenge entrepreneurial teams may face.

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