Polkadot ecosystem, the Ethereum’s Contender - Crypto Academy / S4W7 - Homework Post for @allbert
Hello professor @allbert. As per your homework task, I have selected CELR(Celer Network) coin to perform for this task.
1-Explain in your own words why you chose it and why do you think it is relevant to the world?
I have Chosen Celer Network because It is a network which provides very fast, secure and low cost blockchain applications on Polkadot Ecosystem.
Celer Network is purely based on Polkadot Ecosystem and It has also launched the World's first channel network and It is also very scalable network which is one of it's quality.
Some applications which are built on Celer Network have attracted large number of audience in DeFi and Blockchain Services.
It is best network which is layer2 and where the security on the system is purely based on layer1 blockchain security.
I have chosen it because It is faster, secure and scalable and has low cost transactions. It has Market Cap rank of #111 and has good Market Cap.
CELR token is also very important in blockchain as this Token is used to participate in State Guardian Network and provide best services for Celer Network Users.
Celer Network offers instant transaction process, real-time interaction, multi layer assets and flexible upgradability.
Celer Network has brought many impressive solutions in it's Network which are Lightning Network and Raiden which have made better scalability in it's Network.
2-Description of the project and its platform. (Screenshots needed)
Celer Network is a platform which purely describes faster, very secure and low cost blockchain transactions.
Celer Network is a technology which enables Internet-scale Blockchains through scaling ideas. It can simply scale out transactions per second.
We can go to the official website of Celer Network by this link https://www.celer.network/#. We can find about Celer Network and about It's Ecosystem on it's Official Website.
Ecosystem of Celer Network -
Source
About CELR Token
CELR token is listed on various exchanges including Binance, Kucoin, Bittrex and many more. It has a market cap of around $840 million and It has a Circulating Supply of around 6 Billion.
It has a market Rank of #111 and It's Current Price is $0.138 and It's All Time High is $0.1987.
Celer Network on Medium
We can get all current time news of Celer Network on Medium like it's Partnership and all Upcoming Events and news.
Telegram Group of Celer Network
Celer Network has an active Telegram group which have more than 26k+ members.
Twitter of Celer Network
It has it's official twitter account which has around 81.8k followers and We can get all it's latest updates and tweets from it's Official Twitter Account.
3-Functionalities and real-life applications. (Screenshots needed)
It's Functionalities -
Layer 2 Finance prevents DeFi from High transaction fees and difficulty in uses. It allows people to use DeFi protocols in it's Network.
Source
c Bridge is a Network which helps people to get instant, low-cost transfers in it's Blockchain.
Celer SDKs is made for it's developers to make fast and minimum cost blockchain applications for DeFi, Gaming and micropayment services.
Celer State Guardian Network offers people transaction settlements, real interaction and offers multi chain and multi-layer assets and flexibility.
4-Future development and associated projects. (Screenshots needed)
It has awesome future developments which relies on best development and resources. We can also see it's Roadmap in which we can Check all it's Plans for Quarters of 2021.
Celer Network is going to work on it's Off Chain Availability and SGN architecture in the Future. It has also some mainchain contracts and SideChain Consensus.
It is going to be work on Proof of Liquidity in which It's Goal is to meet it's State Chann Network Liquidity by creating easy to access liquidity market for off-chain providers.
It's Associated Projects-
• Financial Trading Market with Instant Order Matching and Off-Chain Prediction Market.
• Micro Services with SLA Guarantee and Micro Transactions for Crypto Charity.
• Better IDE for developing on Celer Network and Multiplayer Game running on Celer Network which will be a Key point.
5-Make a technical analysis of the token of the selected platform, then through your validated exchange account make the purchase of the token (15 USD as a minimum).
I have made a technical analysis of CELR token from TradingView. I have made technical analysis of this token on CELR/USDT pair in 1hour time frame.
As from the above image, I have marked a Strong Support Zone in green colour which is very strong Support Zone.
And I have also marked a Resistance Line in purple colour which will be a key factor for predicting the move of this token.
When this token will break that resistance line or purple line, then We can expect good pump in the price of CELR token.
Purchase of this token
I am purchasing CELR token through my Binance Exchange. For Purchasing it, First Click on Markets on Binance and then Search CELR token. There are many pairs of CELR token and I have selected CELR/USDT pair. Click on CELR/USDT pair and then Click on Buy.
Binance Exchange
After clicking on buy, You will head to a interface and then, Fill the Price of this token and Enter the Amount of token and then Click on Buy CELR.
After this, You can check Your order details in trade history.
Conclusion
This was an amazing lecture. I would like to thank you professor @allbert for providing this amazing lecture. I am glad that I participated in your lecture.
Polkadot Ecosystem now playing major role in Blockchain system and Crypto Market. Many Coins based on Polkadot Ecosystem are performing nicely in the market.
Cc:-
@allbert
#club5050 😀