Celo

Celo is one of the world's first carbon-negative blockchains, with a proof-of-stake consensus mechanism that requires a small fraction of the energy used by proof-of-work chains. The Celo community is also an integral partner in the Climate Collective, an expanding coalition of companies building at the intersection of Web3 and climate action. Celo has a mobile-first design, with features like Plumo (a zk-SNARK-based light-client syncing mechanism) and the ability to map encrypted phone numbers to wallet addresses, making it easier for real-world users of all experience levels to transact on the blockchain.

The Celo blockchain utilizes a proof-of-stake consensus mechanism. The CELO governance asset supports the security, growth, and development of the platform by enabling CELO holders to stake the asset in support of Celo Validators, vote on changes or additions to the core technology proposed by community members, and engage directly with decentralized applications (dApps) on the Celo Platform. Validators play a crucial role in the consensus mechanism of the Celo Platform, helping to secure the network and independently verify transactions as well as propose new blocks to be added to the blockchain.

The CELO governance asset has a fixed supply of one billion tokens. The CELO assets in circulation are split between the Mento Reserve and a community of CELO holders.