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Wednesday, 12 Jan 2022
Crypto Notes
A weekly newsletter decoding crypto, blockchain and the entire ecosystem.
By Rohas Nagpal

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Good morning!

All about Celo (CELO)

In previous editions, we have discussed Aave (AAVE), Algorand (ALGO), Arweave (AR), Audius (AUDIO), Avalanche (AVAX), Binance Coin (BNB), Bitcoin (BTC), Cardano (ADA), Chiliz (CHZ), Chainlink (LINK), Dogecoin (DOGE), Ether (ETH), Filecoin (FIL), Solana (SOL), Polkadot (DOT), Polygon (MATIC), Terra (LUNA), and Theta. We have also covered the top DAO cryptos, DeFi protocols, and Metaverse cryptos.

This week we take on Celo (CELO).

     

Let's start with some interesting crypto news:

El Salvador is preparing to introduce 20 laws to provide a legal framework for its upcoming $1 billion Bitcoin bond. The funds raised will be used to build the zero-tax Bitcoin City and to buy more Bitcoin.

Kosovo has banned crypto mining after a 60-day state of emergency because of an ongoing energy crisis. Other countries that have banned crypto mining are Algeria, Bangladesh, China, Egypt, Iraq, Kazakhstan, Morocco, Qatar, and Tunisia.

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1. What is Celo (CELO)?

Name: Celo

Symbol: CELO

Overview:

Celo is a proof-of-stake mobile-first blockchain that "makes financial dApps and crypto payments accessible to anyone with a mobile phone".

It has an average block time of 5 seconds and is Ethereum Virtual Machine (EVM) compatible. Celo uses mobile phone number mapping to public keys. Celo transactions are fast & light because the block headers are optimized for fast mobile phone synchronization.

Celo has two native tokens CELO and CUSD.

CELO is a "utility coin" that enables users to:

participate in the Proof-of-Stake consensus

pay for on-chain transactions, and

vote on governance decisions.

Celo Dollar (CUSD) is a US-dollar pegged stablecoin.

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.

2. Metrics

As of 11 January, the core metrics of CELO are:

Price metrics:

Current Price $ 4.4
All-time high (Aug 30, 2021) $ 10.66
All-time low (May 22, 2020) $ 0.7955

Supply metrics:

Circulating supply 387 million CELO
Total supply 1 billion CELO
Maximum supply 1 billion CELO

Note:

Circulating Supply is the number of coins / tokens in public hands.

Total Supply is the number of coins / tokens created minus the number burned.

Maximum Supply is the maximum amount of this crypto that can ever exist

Figures have been rounded off for convenience

Marketcap & Volume metrics:

Market Cap: $ 1.7 billion
Fully Diluted Market Cap: $ 4.4 billion
Volume (24h): $ 97 million
Volume / market cap ratio: 0.06

Note:

Market cap = Current Price x Circulating Supply

Fully Diluted Market Cap is the market cap if the maximum supply was in circulation

Volume (24h) is the fiat value of this crypto traded over the last 24 hours

Volume / market cap ratio = 24h Volume / Marketcap

Figures have been rounded off for convenience

3. Wallets

Valora is a mobile wallet that supports the Celo Identity Protocol. This maps hashes of phones numbers to public keys and makes it easy for anyone with a mobile phone to send and receive crypto.

Note: The data is from CoinMarketCap, Messari, and Future Money Wallet and may be rounded off.

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The author is an amateur boxer, a blockchain architect, a Tintinologist and a retired hacker.

     

Written by Rohas Nagpal. Edited by Saikat Chatterjee. Produced by Nirmalya Dutta. Send in your feedback to newsletters@livemint.com.

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