Celer Network（CELR）Launches New Inter-chain Messaging Framework

Celer Network, the developer of the Inter-chain messaging framework, is a blockchain interoperability and connectivity protocol.

Celer Network allows you to access crypto tokens, Decentralized Finance (DeFi), Non-Fungible Tokens (NFT), and governance protocols across multiple chains, and also build inter-chain native decentralized apps (dApps) using the Celer inter-chain message SDK.

The Inter-chain messaging (IM) framework is built to enable existing decentralized crypto exchanges (DEX) to be easily upgraded and become an inter-chain native lending protocol.

The Inter-chain Messaging Framework opens up diverse opportunities for inter-chain native decentralized applications.

cBridge, Rubic, ChainHop, and Mystiko are some of the blockchain apps that have integrated Celer's Instant messaging framework

Nowadays, you are likely to find new blockchain platforms daily. The more people embrace blockchain technology and invest in digital assets; the more developers are building smart decentralized apps.

These blockchain protocols' use cases and functions might be different; however, they all leverage blockchain technology for their operations.

Today, our spotlight will be on Celer Network (CELR), a blockchain interoperability protocol. Our focus shall also be on how Celer Network operates and its newly launched New Interchain Messaging Platform.

What Is Celer Network (CELR)?

Celer Network is blockchain interoperability and connectivity protocol. It is a cross-layer communication platform that enables a single-click user experience.

Celer Network allows you to access crypto tokens, Decentralized Finance (DeFi), Non-Fungible Tokens (NFT), and governance protocols across multiple chains.

Celer Network (CELR) provides a platform for developers to build inter-chain native decentralized apps (dApps) using the Celer inter-chain message SDK to gain access and deploy efficient liquid utilization, coherent application logic, and shared mechanisms.

Those who use Celer Network dApps benefit from using a diverse multi-chain ecosystem and the intuitiveness of a single-transaction user experience on a single platform.

The development of Celer Network (CELR) is for a specific use case to push the use of blockchain to the mainstream. The Celer Network is to deploy interoperability and layer-2 infrastructure leveraging blockchain platforms like Polkadot and Ethereum.

The essential goal of building Celer Network is to enable and ease multi-chain support for App developers. This blockchain tool is also expected to allow fast, secure, and cost-efficient transactions alongside a cryptocurrency economy that incentivizes network performance.

The total supply of this digital asset is 10,000,000,000 CELR. Currently, there are about 5,645,454,936 CELR in circulation. The Celer Network has a market trading volume of €36,143,677.

Having discussed the concept behind Celer Network and how the blockchain protocol works, we shall identify its newly launched Inter-Chain Messaging Framework.

Celer Network’s Mainnet Launch Of Inter-chain Messaging Framework

Recently, Celer Network announced the mainnet launch of its inter-chain Messaging (IM) framework.

The mainnet launch involves years of collaboration and refinement that marks the entrance to the market of a bespoke and user-friendly platform that fundamentally changes how multiple blockchain dApps are deployed.

The Inter-chain messaging app is built to “enable developers to build inter-chain-native dApps with a single-click User Experience, resulting in efficient liquidity utilization, coherent application logic, and shared state across multiple blockchains.

The newly launched Inter-chain messaging framework popularly called Celer IM provides a “plug’n’play” upgrade. This upgrade allows blockchain developers to build inter-chain native decentralized apps using a single click user experience (UX).

The framework enables existing decentralized crypto exchanges (DEX) to be easily upgraded to become an inter-chain native lending protocol. The upgrade will enable these existing DEX platforms to transact across different chains and the NFT marketplaces.

The launch of this highly sophisticated, intuitive, and multipurpose framework opens up diverse opportunities for inter-chain native decentralized applications.

DEX Platforms That Have to Integrate The Inter-chain Messaging Framework

This is a list of DEX platforms that have to integrate their inter-chain messaging framework:

cBridge

cBridge is Celer Network's asset bridge launched on Mainnet in 2021. Since its launch, the asset bridge has been activated in over 28 different blockchain apps.

Since Celer Networks' operation with Celer IM, it has garnered over $6 billion cross-chain volume, processed over 130 thousand user requests, and about $750 million in TVL.

cBridge protocol has grown to become one of the highest volume cross-chain bridges.

Mystiko Network

Mystiko Network is a base layer of the web3 protocol that ensures connectivity and confidentiality to all blockchain data, applications, and transactions.

Mystiko has now integrated Celer’s new inter-chain messaging framework to enable privacy protection. It protects transactions against cross-chain data tracking, exploitation, and unauthorized access.

Mystiko. Network is a sophisticated zero-knowledge proof protocol that provides security and protection for all single-chain and cross-chain private transactions.

Mystiko combines the Mystiko Network’s Zk snark-based privacy technology and Celer inter-chain Message framework to support cross-chain private transactions across Ethereum and BNB blockchain.

ChainHop

ChainHop is a composable multi-chain and liquidity network that enables a one-click, cross-chain token swap experience.

ChainHop is now launched on Mainnet and integrated with the Celer Inter-chain Messaging framework. The integration will help scale up ChainHop’s interoperability across multiple tokens.

You can make cross-chain swaps across over 20 blockchains with about 1000 assets for a fair rate with just one click.

Rubic

Another multi-chain swap protocol that has integrated the newly launched inter-chain messaging framework is Rubic. Rubic SDK provides both on-chain and multi-chain swaps at best possible rate.

The integration of Rubic and Celer's inter-chain messaging framework will enable one-click functionality across multiple. In Rubiks, integration is free.

Conclusion

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Celer Network is a leading inter-blockchain and cross-layer transaction and communication. It is a household tool in decentralized crypto exchange (DEX).

The launch of the inter-chain messaging framework makes it attract massive end-users in the DeFi, blockchain interoperability, and virtual gaming space.

The Celer Network Suite has a few other technological tools that ensure fast, secure, and lost cost transactions across the blockchain network.



Author: Valentine. A, Gate.io Researcher
This article represents only the researcher's views and does not constitute any investment suggestions.
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