Bytom Blockchain and Celer Network Sign MOU

Bytom Blockchain and Celer Network have signed an MOU (Memorandum of Understanding) recently. Both the entities are collaborating for strengthening the ecosystem of Bytom. Celer Network made an official announcement to update the blockchain community about its move on September 25, 2019, through a blog post on Medium.

As highlighted by the blog post, Bytom will be deeply cooperating with Celer in future on production iteration, layered architecture, building sidechain modules as well as passages that support swift off-chain status change. For that, it will combine various techniques for off-chain scaling and building a complete solution. The company aims to accelerate the mass adoption of blockchain.

For those who came in late, Celer Network is a prominent layer-2 scaling platform which facilitates easy, secure, and fast off-chain transactions for payment transactions as well as generalized off-chain smart contracts. It lets everyone develop, operate, and utilize highly scalable dApps through innovative off-chain scaling procedures along with the incentive-based crypto-economics. 

Bytom Blockchain, on the other hand, works towards building diverse assets as well as the programmable economy. It adopts the POW consensus algorithm for ensuring asset decentralization and security.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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