Celo

Celo

Celo is a blockchain protocol that aims to address some of the barriers to cryptoasset adoption (user experience and volatility) by using phone numbers as public keys and issuing a native stable-value token. The network supports the development of smart contracts and decentralized applications. Its first application, Celo Wallet, intends to be a social-payments system centered around mobile phones. Celo features two primary cryptoassets: Celo and Celo Dollars. Celo (CELO) is the protocol's native asset. It serves as a utility that enables users to participate in network consensus (through its Proof-of-Stake system) pay for on-chain transactions, and vote on governance decisions. Celo Dollars (cUSD) are a stable asset that follows the US Dollar.