Cena Celo

OKcoin Europe LTD

54930069NLWEIGLHXU42

Celo

Celo is present on the following networks: celo, near_protocol. Celo uses a Proof of Stake (PoS) consensus model, which supports a decentralized, community-driven approach to governance and network security. Core Components of Celo’s Consensus: 1. Proof of Stake (PoS): Validator Role: Validators are responsible for creating new blocks, validating transactions, and maintaining the security and integrity of the network. Validators are selected based on the amount of CELO tokens they hold and stake, incentivizing honest participation and network reliability. 2. Decentralized Governance: Community Voting: Governance on Celo is decentralized, allowing CELO token holders to vote on proposals and changes to the network. This community-driven approach ensures that token holders have a say in the network’s development and strategic direction. The NEAR Protocol uses a unique consensus mechanism combining Proof of Stake (PoS) and a novel approach called Doomslug, which enables high efficiency, fast transaction processing, and secure finality in its operations. Here's an overview of how it works: Core Concepts 1. Doomslug and Proof of Stake: - NEAR's consensus mechanism primarily revolves around PoS, where validators stake NEAR tokens to participate in securing the network. However, NEAR's implementation is enhanced with the Doomslug protocol. - Doomslug allows the network to achieve fast block finality by requiring blocks to be confirmed in two stages. Validators propose blocks in the first step, and finalization occurs when two-thirds of validators approve the block, ensuring rapid transaction confirmation. 2. Sharding with Nightshade: - NEAR uses a dynamic sharding technique called Nightshade. This method splits the network into multiple shards, enabling parallel processing of transactions across the network, thus significantly increasing throughput. Each shard processes a portion of transactions, and the outcomes are merged into a single "snapshot" block. - This sharding approach ensures scalability, allowing the network to grow and handle increasing demand efficiently. Consensus Process 1. Validator Selection: - Validators are selected to propose and validate blocks based on the amount of NEAR tokens staked. This selection process is designed to ensure that only validators with significant stakes and community trust participate in securing the network. 2. Transaction Finality: - NEAR achieves transaction finality through its PoS-based system, where validators vote on blocks. Once two-thirds of validators approve a block, it reaches finality under Doomslug, meaning that no forks can alter the confirmed state. 3. Epochs and Rotation: - Validators are rotated in epochs to ensure fairness and decentralization. Epochs are intervals in which validators are reshuffled, and new block proposers are selected, ensuring a balance between performance and decentralization.

Celo is present on the following networks: celo, near_protocol. Celo’s incentive model rewards validators and prioritizes accessibility with minimal transaction fees, especially for cross-border payments, supporting a flexible and user-friendly ecosystem. Incentive Mechanisms: 1. Validator Rewards: Transaction Fees and Newly Minted Tokens: Validators earn rewards from transaction fees as well as newly minted CELO tokens. This dual-source reward system provides a continuous financial incentive for validators to act honestly and secure the network. 2. Transaction Flexibility and Gas Price: Gas Limit and Price Control: Each transaction specifies a maximum gas limit, ensuring that users are not excessively charged if a transaction fails. Users can also set a gas price to prioritize transactions, allowing faster processing for higher fees. Payment Flexibility with Multiple Currencies: Unlike many blockchains, Celo allows transaction fees to be paid in various ERC-20 tokens, providing flexibility for users. This approach improves accessibility, especially for individuals with limited access to traditional banking. 3. Minimal Fee Structure for Accessibility: Designed for Low-Cost Transactions: Celo’s fee structure is intentionally minimal, particularly for cross-border payments, making it ideal for users who may not have traditional banking options. This focus on accessibility aligns with Celo’s mission to bring blockchain technology to underserved communities. Applicable Fees: • Transaction Fees: Fees are calculated based on gas usage, with a maximum gas limit set per transaction. This limit protects users from excessive costs, while the option to pay in multiple currencies enhances flexibility. NEAR Protocol employs several economic mechanisms to secure the network and incentivize participation: Incentive Mechanisms to Secure Transactions: 1. Staking Rewards: Validators and delegators secure the network by staking NEAR tokens. Validators earn around 5% annual inflation, with 90% of newly minted tokens distributed as staking rewards. Validators propose blocks, validate transactions, and receive a share of these rewards based on their staked tokens. Delegators earn rewards proportional to their delegation, encouraging broad participation. 2. Delegation: Token holders can delegate their NEAR tokens to validators to increase the validator's stake and improve the chances of being selected to validate transactions. Delegators share in the validator's rewards based on their delegated tokens, incentivizing users to support reliable validators. 3. Slashing and Economic Penalties: Validators face penalties for malicious behavior, such as failing to validate correctly or acting dishonestly. The slashing mechanism enforces security by deducting a portion of their staked tokens, ensuring validators follow the network's best interests. 4. Epoch Rotation and Validator Selection: Validators are rotated regularly during epochs to ensure fairness and prevent centralization. Each epoch reshuffles validators, allowing the protocol to balance decentralization with performance. Fees on the NEAR Blockchain: 1. Transaction Fees: Users pay fees in NEAR tokens for transaction processing, which are burned to reduce the total circulating supply, introducing a potential deflationary effect over time. Validators also receive a portion of transaction fees as additional rewards, providing an ongoing incentive for network maintenance. 2. Storage Fees: NEAR Protocol charges storage fees based on the amount of blockchain storage consumed by accounts, contracts, and data. This requires users to hold NEAR tokens as a deposit proportional to their storage usage, ensuring the efficient use of network resources. 3. Redistribution and Burning: A portion of the transaction fees (burned NEAR tokens) reduces the overall supply, while the rest is distributed to validators as compensation for their work. The burning mechanism helps maintain long-term economic sustainability and potential value appreciation for NEAR holders. 4. Reserve Requirement: Users must maintain a minimum account balance and reserves for data storage, encouraging efficient use of resources and preventing spam attacks.

2024-04-02

2025-04-02

39420.00000 (kWh/a)

The energy consumption of this asset is aggregated across multiple components: For the calculation of energy consumptions, the so called “bottom-up” approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. To determine the energy consumption of a token, the energy consumption of the network(s) celo, near_protocol is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.