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What Is Cleo
The Celo Foundation is a non-profit organization based in the US that supports the growth and development of the open-source Platform. Guided by the community tenets, the Foundation contributes to education, technical research, environmental health, community engagement, and ecosystem outreach—activities that support and encourage an inclusive financial system that creates the conditions for prosperity for everyone.
Cleo Cryptocurrency is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. By using phone numbers as public keys, Celo hopes to introduce the world’s billions of smartphone owners, including those without banking access, to transacting in cryptocurrency.
The network also allows for the creation of smart contracts and decentralized applications (DApps) as part of decentralized finance (DeFi). Its mainnet was launched in April 2020.
The platform has two native tokens. CELO is a proof-of-stake (PoS) token used for transaction fees, governance participation and related activities. In future, the platform aims to host various stablecoins, with one, the Celo Dollar (CUSD), already in use.
The Graph Key Points
Mobile-First Blockchain Platform
A mobile-first approach that provides the opportunity to positively impact 5.6B smartphone owners globally.
Supported by a mission-aligned network of technologists, international NGOs, and organizations committed to building an inclusive financial system.
Usability-focused tech innovations
Technology innovations allow Celo to truly work across devices, carriers, & countries.
Digital money powered by a two asset system
cUSD (Celo Dollars) are a stable asset that follows the US Dollar. With cUSD, you can share money faster, cheaper, and more easily on your mobile phone.
CELO is a utility and governance asset for the Celo community, which has a fixed supply and variable value. With CELO, you can help shape the direction of the Celo Platform.
The Builders Platform
Hyper-efficient light client and full node incentives allowing for scalability to 6 billion smartphones. Full EVM compatibility making it easy to get started.
Growing family of native stablecoins, like Celo Dollars, which follow the value of fiat currencies. Pay transaction fees with stablecoins or your own tokens.
Users can easily send currency to any mobile number, enabled by Celo’s decentralized phone verification protocol, and get access to a growing ecosystem of global cash-in cash-out options.
The Celo Stack
Celo is oriented around providing the simplest possible experience for end-users, who may have no familiarity with cryptocurrencies and maybe using low-cost devices with limited connectivity. To achieve this, Celo takes a full-stack approach, where each layer of the stack is designed with the end-user in mind while considering other stakeholders (e.g. operators of nodes in the network) involved in enabling the end-user experience.
Thousands of organizations and individuals are developing, growing, and governing Celo, an open-source platform that enables anyone to build borderless applications. Explore, build, and ship ideas for your community using Celo’s developer tools.
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