Week 1 Report: Celo & Avalanche

October 8th, 2021

1. What is Celo? And why is it Mobile DeFi (MoFi)?

Top 9 answers from Knox.Market:

Light Clients – Celo Network applications running on user’s mobile devices, such as Celo’s mobile wallet.

The Celo platform is proof-of-stake, EVM-compatible, open source, and governed by CELO asset owners

Celo provides extremely fast, secure synchronization to enable light clients to track the current state of the Celo blockchain ledger

Celo is a mobile-first platform that makes financial dApps and crypto payments accessible to anyone with a mobile phone

Celo is a mobile-first, delegated proof of stake blockchain. It is MoFi because it has native stablecoins and mobile compatible light clients.

Celo is a complete stack of new blockchain software, core libraries that run on that blockchain, and end user application

Celo Wallet enables payments directly to users listed in their device's contacts list.

The Celo Wallet application is a fully unmanaged wallet that allows users to self custody their funds using their own keys and accounts.

Celo uses an on-chain governance mechanism to manage and upgrade aspects of the protocol that reside in the Celo Core Contracts

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2. What is Avalanche? And why is it so fast?

Top 14 answers from Knox.Market:

Avalanche is fast because it takes advantage of the revolutionary Avalanche Consensus protocols.

A platform of platforms, enabling anyone to create tailor-made application specific blockchains and benefit from Avalanche consensus.

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality.

Avalanche is an open, programmable smart contracts platform for decentralized applications.

C-Chain is where developers can create smart contracts for DApps, P-chain coordinates network validators, tracks anc create new subnets

Avalanche is a new platform developed by Ava Labs that allows anybody to easily produce their own multi-functional blockchains and dApps.

X-Chain is secured by the DAG-optimized 'Avalanche' consensus—a secure and scalable protocol that can achieve transaction finality in seconds.

Snowman consensus protocol, dual consensus, validate transactions by directed acyclic graph (DAG) optimized consensus protocol

Avalanche is designed to address some of the limitations of older blockchain platforms, including slow transaction speeds, centralization, and scalability.

P-Chain and C-Chain are secured by the chain optimized 'Snowman' consensus, helping to enable high throughput secure smart contracts.

Avalanche Virtual Machines (VMs) enable developers to easily launch blockchains with a wide array of application-specific features.

AVAX, the native utility token is used for paying network fees, staking, and as a "basic unit of account" between Avalanche subnets.

By having a validator perform repeated random subsampling, participants in Avalanche build confidence.

Avalanche is a deflationary blockchain. The network collects fees from various actions and then sends these coins to be burned.

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Hivemind of 19 bidders
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