Celer Network and Web3 Foundation collaborate to develop layer 2 scalability for Polkadot

The Layer 2 capacity expansion project Celer Network and the Web3 Foundation are working together to develop Layer 2 scalability on the Polkadot ecosystem. Through this cooperation, Celer Network builds its state channel network technology as a Pallet, and will consider it as the basis of a dedicated parachain to achieve near-instant, low-cost, and trust-free transactions. By utilizing the Substrate blockchain framework, Celer will be able to utilize a flexible and high-performance blockchain structure to achieve efficient optimizations, thereby significantly reducing operating costs, improving performance, and allowing new functions that were previously unattainable.