Celer Network’s partnership with NEO, one of the largest public blockchains with a flourishing Smart Economy dApp ecosystem and a huge global community, kicks off today.
Both Celer Network and NEO are looking to be inspired by each other throughout the win-win partnership. NEO will integrate Celer Network’s layer-2 scaling technology to significantly expand the scalability and usability of its dApps. Meanwhile, Celer will benefit from the vigorous march of NEO 2.0 and tapping into NEO’s diverse dApps ecosystem. The cooperation has started and the initial smart contract support is scheduled to be completed in Q4 2019. To help power Celer’s State Guardian Network to secure off-chain states, NEO Foundation is committed to staking CELR tokens and aims to become one of the major nodes on the Celer Network.
As a globally well-known dApp platform, NEO blockchain has reached the high ground of the dApp ecosystem, and the heat is still rising. NEO’s “Smart Economy” concept pieces together digital assets, digital identity, and smart contracts by establishing a distributed network.
The leading dApps on the NEO blockchain include Nash Exchange (NEX), a non-custodial cryptocurrency exchange, Switcheo(SWTH), a cross-chain dex based on NEO protocol, Qlink, a decentralized mobile network for P2Peer WiFi sharing, mobile data converted content distribution, enterprise telecom services, and crowd-sourcing, and so many more. NEO blockchain also has a large user base and community around the globe with a deep root and a long history in China.
To facilitate the continued growth of NEO’s dApp ecosystem and solve the scalability challenge, NEO has been reaching out for a suitable layer-2 scaling solution. NEO eventually fixed its eyes on Celer Network, whose technology advancement, product strategy and execution capacity have proven to be superb.
The integration will break into two phases.
To start with, NEO engineering team will work on writing Celer’s generalized state channel smart contract in C# which can run on the NEO smart contract VM smoothly with close support from Celer team. The open-source code, contributed by NEO and Celer team, will then merge into Celer’s cChannel smart contract repo. This is expected to be in place in Q4 2019.
The second step will connect Celer’s layer-2 system components, such as Celer Node and State Guardian Network, to the Celer Network’s generalized state channel smart contracts on NEO. Celer’s engineering team will contribute to the successful integration and guide the integration towards the Unified State Channel Standard. It is foreseen that, in the near future, a wide range of dApps in the NEO ecosystem including distributed exchanges, games, and payment will be blessed with Celer Network technology and CelerX eSport Gaming SDK. This is estimated to be initially released in Q1 2020.
Besides technology integration, NEO and Celer will also collaborate on marketing and community building in China and across the globe. Both teams look forward to a fruitful long-term strategic partnership.