Celer Network, the advanced layer-2 scaling platform, has announced its latest partnership with NEO, one of the largest public blockchains and DApp ecosystems. NEO will integrate Celer Network’s layer-2 scaling technology to enhance the performance and usability of its dApps. While Celer will benefit by drawing into NEO’s diverse decentralized application (DApp) ecosystem.
The cooperation is now underway with smart contract support scheduled to be completed in Q4 2019. To help power Celer’s State Guardian Network secure off-chain states, the NEO Foundation confirmed it will be staking CELR tokens and aims to become one of the major nodes on the Celer Network.
DApps on the NEO blockchain include Nash Exchange (NEX), a non-custodial cryptocurrency exchange, Switcheo (SWTH), a cross-chain dex based on NEO protocol, Qlink, a decentralized mobile network for P2Peer WiFi sharing, mobile data converted content distribution, enterprise telecom services, and crowd-sourcing, and many more.
First off, the NEO engineering team will work on writing Celer’s generalized state channel smart contract in C# which can run on the NEO smart contract VM with close support from Celer team. The open-source code, contributed by NEO and Celer team, will then merge into Celer’s cChannel smart contract repo. As mentioned previously, this is expected to be in place in Q4 2019.
The second step will connect Celer’s layer-2 system components, including the Celer Node and State Guardian Network, to the Celer Network’s generalized state channel smart contracts on NEO. Celer’s engineering team will contribute to the successful integration and guide the integration.
The two communities believe that, in the near future, a wide range of dApps in the NEO ecosystem including distributed exchanges, games, and payment tools will be deployed with Celer Network technology and the CelerX eSport Gaming SDK. This is estimated to be initially released in Q1 2020.