, the blockchain scaling platform has announced today that it was selected to be one of the final 22 teams joining 500 Startups’ latest accelerator batch in San Francisco. As a leading venture capital firm, 500 Startups has 2,000+ companies spanning over 60 countries.
The four-month accelerator program includes a mix of industries from cryptocurrency to digital health to e-commerce. Celer Network will be joining theand with a focus on accelerating growth and contributing to the development of the blockchain ecosystem globally.
Founded by four Ph.D. graduates from MIT, UC Berkeley, UIUC and Princeton, Celer Network is the off-chain (layer-2) scaling solution for blockchain scalability, which collaborates with high profile partners like L4 Ventures(funded by Ethereum Foundation and Vitalik personally) and DFINITY. Celer Network works as an “operating system” that can run on different blockchains to provide a highly scalable, private and secure off-chain dApp platform. Since coming out of stealth in early 2018, Celer is growing rapidly towards the vision of blockchain mass adoption.
The launch of Centauri Testnet in early October has gained significant positive feedback in the blockchain industry. Meanwhile, Celer Network’s cWallet (Alpha version) acts as the gateway to Celer Network (testnet as of now), where users will enter a new world of off-chain applications that are more than 3,000X faster than on-chain applications.
“Despite all the hype we saw this past year, meaningful blockchain adoption is still lagging. We believe layer 2 solutions will be a key to unlocking blockchain technology’s true potential. As a leader in the layer 2 space, the Celer Network team’s deep technical expertise and laser-focus on product delivery is exactly what the blockchain industry needs.”
Bonnie Cheung, Venture Partner at 500 Startups
500 supports blockchain entrepreneurs on topics ranging from marketing, customer acquisition, and partnership development.