Celes Chain is a public chain for developing and running DApps(Decentralized Applications). Both institutions and persons can develop and execute DApps on Celes Chain, which is supported by consensus algorithm.
Comparing with consortium chains, public chain attracts various participants with the features of more transparent and efficient.
The efforts of legal and compliance
Celes Chain smart script language, CSSL, is used to develop the business logic of CC, including services such as code, applications, smart contracts, and settlements.
The features – including Turing complete, assessment of consumption, automatic execution, compatible with legal compliance, easy-to-use and privacy protection and so on – supports our ultimate goal: “Code is law”.
Celes Chain has the compiler specifically designed for translating business logics to legal documents.
We set regulators as the special users with maximum access to all levels, all data, and user information throughout the Celes Chain.
An innovative consensus algorithm DPoW(Delegated Proof of Works)
DPoW Combines PoW(Proof of Work) and PoB(Proof of Burn):
PoW, a slower proof of work, is used to generate wood for burn. Then, PoB was used to speed up incineration and were excavated by burning the wood as a bonus as well as producing the blocks.
If Celes Chain becomes valuable, external hash power can be indirectly rewarded via PoW, which demonstrates the true decentralization. PoB can be used to produce tokens and generate blocks at higher speed which are more efficient for large-scale applications.
A public chain for institutions
A public chain can enhance mutual trust, reduce regulation cost and improve efficiency.
For example, the modern financial system and regulation system were born in Wall Street. A lot of institutions are proud of their pure blood inherited from financial traditions. However, they are the very victims of financial crisis in 2008 due to the exact same system. The whole financial industry lost their confidence and trust. A few of regulation policies were coming up to avoid what happened again and, inevitably, to curb the innovations.
Bitcoin emerges as a lighting. Various consensus algorithm build up the trust between the counterparties of trading cryptocurrencies. We, thus, deploying with decentralized technology and innovated consensus algorithms, design a public chain to solve the trust crisis between financial institutions.
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