Celer Network and NEO announce strategic partnership

Celer Network is a Layer 2 scaling platform for building blockchain applications, which has announced a partnership with NEO to provide scalability for NEO and enhance the availability of its dApps on the blockchain.

NEO has been looking for a suitable Layer 2 scaling solution, and Celer Network will assist in improving its dApp ecosystem. According to a report, the smart contract support plan is expected to be completed in the fourth quarter of this year.

The integration will be carried out in two phases. In the first phase, NEO's engineering team will start writing Celer's generalized state channel smart contracts in C# to be able to run on the NEO smart contract virtual machine.

The code provided by both teams will be merged into Celer's smart contract repository by the end of 2019. The next phase will connect Celer's Layer 2 components to the smart contracts on NEO.

Through this strategic partnership, Celer aims to have various dApps from the NEO ecosystem running on Celer Network by early 2020, including decentralized trading platforms, payment channels, and various games.

Celer uses its native token CELR for value transfer, claiming to be 15 times faster than Bitcoin's scaling solution, the Lightning Network. In March of this year, Celer successfully sold over $4 million worth of CELR tokens on Binance's IEO platform.

NEO, with a large global user base and community, has been deeply involved in China's blockchain industry for a long time. On September 16, NEO reached a significant milestone by launching the NEO3 testnet and releasing NEO3 Preview1.

As a comprehensive upgrade from NEO2, NEO3 features higher throughput, increased stability and security enhancements, and switches from the Unspent Transaction Output model used by Bitcoin to the Account Model adopted by Ethereum.

Since the beginning of 2019, NEO has been actively leveraging its resources to compete globally. Previously reported by ABM, NEO aims to replace Ethereum as the most developer-friendly blockchain.

In addition to actively competing with Ethereum, NEO opened a development center in Seattle in February, hiring several former Microsoft managers including John deVadoss to lead the project, attempting to gain an advantage in the future public chain battle.

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