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Built on the Celo Platform, the Mento Protocol provides to the community the possibility to create various stable assets to users of the Celo blockchain and the bridges that connect Celo to other chains. cREAL is one of the stable assets on the Mento Protocol and cREAL tracks the value of the Brazilian Real. cREAL was launched through a community governance proposal in January 2022.
What is Celo Brazilian Real?
Celo Brazilian Real, commonly referred to as cREAL, is a digital currency designed to maintain a stable value relative to the Brazilian Real. It operates on the Celo platform, leveraging the Mento Protocol, which facilitates the creation of various stable assets within the Celo ecosystem. This protocol allows for the seamless integration of cREAL with other blockchains, enhancing its accessibility and utility across different digital environments.
Launched in January 2022, following a successful community governance proposal, cREAL aims to provide a stable digital currency option for users within and outside the Brazilian market. By pegging its value to the Brazilian Real, cREAL offers a reliable medium of exchange and a store of value, mitigating the volatility often associated with cryptocurrencies. This stability is particularly appealing for users seeking to conduct transactions, remittances, or simply hold assets without the typical price fluctuations of the crypto market.
cREAL is available on various cryptocurrency exchanges, enabling users to trade, hold, or use it for transactions. Its integration into the Celo blockchain and compatibility with other chains through bridges make it a versatile asset for diverse applications, from financial services to decentralized applications (dApps) that require stable value transfer mechanisms.
As with any cryptocurrency or digital asset, potential users and investors should conduct thorough research and consider their financial situation before engaging with cREAL or any other digital currency. The dynamic nature of the crypto market requires a cautious approach to investment and usage decisions.
How is Celo Brazilian Real secured?
The security of the Celo Brazilian Real, also known as cREAL, is multifaceted, leveraging both regulatory oversight and advanced blockchain technology. Initially, it's important to understand that cREAL operates within a regulated framework, adhering to the guidelines set forth by relevant financial authorities. This ensures that its operations comply with established standards for financial instruments, contributing to its overall security and trustworthiness.
Moreover, cREAL is a stablecoin pegged to the Brazilian Real and is part of the Mento Protocol, which is built on the Celo blockchain. The Celo blockchain is known for its emphasis on accessibility and global financial inclusion, aiming to bring the benefits of digital currencies to a wide audience. The Mento Protocol, in particular, is designed to support the creation and maintenance of stable assets like cREAL. It employs a decentralized approach to stabilize the value of these assets, closely tracking the value of their real-world counterparts, in this case, the Brazilian Real.
The security of cREAL is further enhanced by the decentralized nature of the Celo blockchain. Decentralization reduces the risk of centralized points of failure, making the system more resilient against attacks and manipulation. Additionally, the Celo blockchain utilizes advanced cryptographic techniques to ensure the integrity and security of transactions.
Community governance also plays a crucial role in the security and stability of cREAL. Launched through a community governance proposal, cREAL's parameters and operational decisions are subject to the approval of Celo's community of users. This inclusive approach ensures that changes to the protocol or asset are made transparently and with the consensus of a diverse group of stakeholders.
In summary, the security of the Celo Brazilian Real is ensured through a combination of regulatory compliance, the technological robustness of the Celo blockchain and Mento Protocol, and the democratic process of community governance. These elements work together to provide a stable and secure digital asset that tracks the value of the Brazilian Real.
How will Celo Brazilian Real be used?
The Celo Brazilian Real, known as cREAL, is a stablecoin that mirrors the value of the Brazilian Real. It operates within the Celo ecosystem, a platform designed to support the development and deployment of decentralized applications (dApps) and smart contracts. cREAL was introduced to the public in January 2022, following a community governance proposal, showcasing the democratic and decentralized nature of blockchain technology.
This digital asset serves multiple purposes, catering to a wide range of financial and economic activities. For everyday users, cREAL offers a stable medium for daily commerce, allowing transactions to be conducted without the volatility typically associated with cryptocurrencies. This stability is crucial for businesses and individuals who require predictable value exchange in their operations.
In addition to facilitating everyday transactions, cREAL is instrumental in the remittance market. It enables users to send and receive funds across borders efficiently and at a lower cost compared to traditional banking systems. This feature is particularly beneficial for the Brazilian diaspora, who can remit money back home without the hefty fees or the exchange rate losses.
Moreover, cREAL is utilized within the broader Celo ecosystem for more sophisticated financial activities. It can be used to manage larger pools of funds and for staking in validator sets, contributing to the security and operability of the Celo blockchain. This involvement in governance and network maintenance underlines the asset's role beyond a mere medium of exchange.
Beyond these practical uses, cREAL finds application in innovative digital realms. It is employed for purchasing real estate-related assets in foreign countries, participating in City DAOs (Decentralized Autonomous Organizations), and engaging with events in the Realy Metaverse. These use cases highlight the versatility of cREAL, bridging the gap between traditional financial systems and emerging digital economies.
As with any cryptocurrency or digital asset, individuals interested in using or investing in cREAL should conduct thorough research to understand the risks and benefits. The blockchain and crypto space is rapidly evolving, and staying informed is key to navigating it successfully.
What key events have there been for Celo Brazilian Real?
In the realm of cryptocurrencies and blockchain technology, the introduction of stablecoins pegged to fiat currencies represents a significant advancement, offering stability and real-world utility. A noteworthy development in this area is the launch of a stablecoin tied to the Brazilian Real on the Celo platform. This event marks a pivotal moment, as it highlights the growing trend of creating digital assets that mirror the value of national currencies, thereby facilitating easier and more stable transactions within the blockchain ecosystem.
The stablecoin, known as cREAL, operates within the Mento Protocol on the Celo blockchain. This protocol enables the creation of various stable assets, making it possible for users to engage in transactions that are less susceptible to the volatility often associated with cryptocurrencies. The launch of cREAL in January 2022, following a community governance proposal, signifies a collaborative effort within the Celo community to expand the utility and accessibility of blockchain technology.
This development is particularly significant for users in Brazil and those engaged in transactions tied to the Brazilian Real, as it offers a new avenue for stable digital transactions. The growing popularity and adoption of cREAL, as evidenced by its trading volume and market trends, underscore the demand for stablecoins that can provide the benefits of cryptocurrency transactions without the associated price volatility.
As with any investment in cryptocurrencies, it's crucial for individuals to conduct thorough research and consider the inherent risks. The introduction of cREAL and its integration into the broader cryptocurrency market represents an exciting step forward, but it also necessitates a careful approach to investment and usage within the digital economy.
The live Celo Brazilian Real price today is $0.169049 USD with a 24-hour trading volume of $463,082 USD. We update our CREAL to USD price in real-time. Celo Brazilian Real is up 0.34% in the last 24 hours. The current CoinMarketCap ranking is #3112, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.