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  1. Home
  2. /Glossary
  3. /Celo
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blockchain

Celo

A mobile-first blockchain focused on making crypto payments accessible, especially in developing countries.

Definition

A mobile-first blockchain focused on making crypto payments accessible, especially in developing countries. Celo supports stablecoins pegged to various currencies and lets users send crypto to phone numbers. It transitioned from its own Layer 1 to an Ethereum Layer 2 in 2024.

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Related Terms

Layer 1

The base blockchain that processes and finalizes transactions.

Stablecoin

A cryptocurrency designed to maintain a stable value, usually pegged to the US dollar.

Layer 2

A secondary network built on top of a Layer 1 to improve scalability.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

Account Model

The way Ethereum and many other chains track balances.

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