NEO To Integrate Celer Network to Boost Scalability

NEO, the blockchain venture, is looking at the option of incorporating Celer Network’s (CELR) layer-two scaling covenant to enhance scalability.

In this regard, NEO’s director of Eco Growth, John Wang, stated that the integration with Celer is currently being discussed. Celer’s platform permits faster off-chain dealings both for payments and generalized off-chain smart contracts.

To move value between different points in the network, Celer utilizes its native crypto token CELR. Community members point out that Celer is 15x quicker than Bitcoin Lightning Network.

Commenting on the development, Wang said:

“A public blockchain is more than a currency: it needs to have the infrastructure for lots of users to come to it … to enable people to do anything.”

Back in March, the token launch facility of key Binance cryptocurrency exchange, Binance Launchpad finished a $4 million sale of CELR tokens, after the completion of two ICOs (initial coin offerings) which are BitTorrent (BTT) and Fetch.AI (FET), completed in January and February, respectively.

Earlier this month, blockchain-powered decentralized application (DApp) platform Tron (TRX) unveiled a sidechain scaling facility, named V1.0 code, which is structured to improve and guarantee unlimited scaling ability of the Tron mainnet. This will allow DApps use less power and operate with higher security and efficiency on Tron.