Cryptocurrency News

Celer and Troy Are Now Partners on the State Channel Technology’s DeFi Application

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Celer and TROY network are working as partners on the DeFi decentralized applications of the state channel technology.

DeFi is an open platform for decentralized finance protocols. This community is free for similar-minded projects. The open-sourcing in the network allows in understanding all the products together at a technical level. It helps in creating a financial system that can be accessed by anyone from any location through an internet connection. It provides transparency in financial services to all the participants by preserving the privacy of an individual.

Celer Network is a platform that supports dApps like insurance, prediction market, gaming, an online auction, and decentralized exchanges. It owns its token named as CELR. It is a layer 2 scaling platform that provides fast and secure off-chain payment and smart contract transactions. It allows everyone to create and operate dApps by using off-chain scaling techniques and crypto-economics.

On the other hand, TROY is a decentralized protocol for trading globally. The TROY network is a prime broker who deals in the trading of crypto assets. This platform provides crypto brokerage services with trading technology, which includes asset management, data analytics, wealth management, brokerage services, and many more.

The main aim behind the partnership of Celer and TROY is to study, build, and use the applications. Celer will provide its state channel technology to correct the TROY’s Layer 2 off-chain trading. On the other hand, TROY will give its applications to the Celer Network from its exchange ecosystem resources.

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