I only paid 0.00001093989 to interact to a smart contract in Celo. At the current price of $CELO, that is just USD 0.00007. Amazingly cheap, right?
It's also fast. Currently it can support 50,000 TPS. That's actual, not just theoretical. Also, it has 5-seconds finality. In comparison, Solana has 65,000 TPS but has an actual 45-seconds finality and Avalanche has sub-second finality but has 1,000 TPS only. Celo is currently working on improving its TPS to 140,000 or more. It has the best of Solana and Avalanche while ensuring decentralization and security are not being sacrificed.
I agree to some extent that #DeFi at its current state is for some, not for all. If the goal is to onboard billions of users from developing countries, a fee higher than a cent is painful for those who only need a dollar or two to feed their entire family for a day.
Another problem that must be tackled is making #DeFi mobile-friendly. For the developing world, particularly, the poorest of the poor, owning a computer or laptop is a luxury. In comparison, a mid-range smartphone costs only a tenth of a computer or laptop.
These are the challenges that Celo is solving. Set your eyes on Celo as early as now. I cannot say that it will be the biggest smart contract chain but it has all the factors to beat many of its competitors and find its way to the Top 10. Give it five years. 🚀
(This is not a financial or investment advice. This is not also a buy or sell signal. Kindly do your own research diligently.)
