Workflow of using Celo

Hello,

I have a newbie question - so, is Celo is a crypto-currency? I am trying to understand the full workflow from converting their real currency to a virtual currency and then have financial transactions within the Celo test net. What crypto-currency do I need to purchase in Coinbase to use with Celo?

Celo will have two native crypto-assets at launch:
1/ Celo Dollar, an ERC-20 like asset pegged to the US Dollar
2/ Celo Gold, an ERC-20 like asset similar to ETH in Ethereum

Celo has its own blockchain, which means the assets above live within the Celo ecosystem and bridges will need to be built to interact with other blockchains.

Transaction fees are can be paid in Celo Dollar or in Celo Gold. Celo Gold gets minted by the network at each block like other protocols. Celo Dollar supply is managed by the protocol based on demand for it.

Since the network hasn’t yet launched these assets are not yet listed on exchanges.

If you’d like to get Celo testnet Dollars and Gold you can faucet yourself here: https://celo.org/build/faucet. Note: these are testnet assets and have no economic value.

Hi Claire, thank you so much for the explanation. I understand that everything is in testnet and you are looking for developers to code applications to the testnet. Yup, I signed up and I can see my Celo dollars and Celo Gold in my Celo Wallet app (Android - Samsung S9). Can people in other countries signup? A friend of mine in South Africa would like to signup.

So basically, not only do we have to market/sell our app but we also need to market/sell the Celo currency, once it all goes live?!? Especially, if we want to market in a country like South Africa.

thanks,
-John

Yes anyone in the world can signup, participate, build on, and contribute to Celo. The platform is open source and permissionless. There are no constraints.

Once the Celo network launches, yes it’ll require user awareness for Celo assets and app(s) to get used across the world (including South Africa), though I personally wouldn’t call it marketing. I see it more as a community coming together around Celo’s mission: which is to build a monetary system that creates conditions of prosperity for all (see Sacred Economics book). Anyone in the community should feel empowered to promote, use, or help out with the project.

Ah, well said Claire. I am not in that world so maybe I don’t think like that yet. (smile) Thank you for the book recommendation. I just went through the Consensys Developer Bootcamp in 2018 (https://media.consensys.net/join-consensys-academys-2018-developer-program-ea2af8970585) and just haven’t had my exposure after that. I tried to sign up a South African number to build a wallet and I got the error below. Am I doing something wrong? Thanks.

Hey John, we currently have an issue for this problem https://github.com/celo-org/celo-monorepo/issues/429

The page currently expects the number in strict E164 format, which is without the spaces I believe

Nam - that was it!! No spaces! Argh, I should have just Googled “E164 format”. (smile) Thanks!