Review on Celo Gold by gregori cordova
A powerful project that seeks to facilitate the use of cryptocurrencies for all types of users just by using their mobile phone
As this new financial system continues to grow, it becomes a challenge for many cryptocurrency projects to reach more users. Despite the great potential that blockchain and cryptocurrencies have, it is still a very complex technology for many people, in addition to their volatility, they are very unattractive to serve as payment methods in many businesses. Taking into account these current problems, Celo offers an ideal solution, since it is an open source blockchain platform with tools that are extremely simple to use, and in which anyone with a mobile device can participate, in such ways. simple like sending a text message. The project works under a POS consensus algorithm and through its protocol, decentralized applications can be created that execute transactions directly with a series of fiat currencies and stable cryptocurrencies. For this they have created an application called Celo wallet, with which users can exchange a wide variety of available tokens, and that has support for multiple stable cryptocurrencies under the ethereum erc20 standard but with the particularity that they are much cheaper and profitable . In addition, Celo represents one of the practical options for developers since they can create decentralized applications and smart contracts taking advantage of the ethereum virtual machine.
In the midst of the current boom with cryptocurrencies, Celo represents one of the most valuable options in the market for the massification of the use of cryptocurrencies, since due to its ease of use anyone who is not familiar with this new financial system , you can transact in just a few steps.
Pros
- It is an ideal and very valuable platform especially for developers to create highly scalable applications that are very easy to use for any type of user.
- With the Celo wallet application, transactions can be made as easily as sending text messages
- Through the Celo protocol, a series of incentives are offered to nodes for their contribution to the network, and no investment is necessary to receive rewards, as it can be achieved by providing computing resources
- Celo is available to operate on most of the most popular exchanges on the market, such as coinbase, okex and Binance
Cons
- Although it is one of the most innovative projects for the massification of cryptocurrencies, it still continues to be very little known in certain regions, especially in Latin America.
