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In Ethereum right now, there are few incentives to run a full node that is not mining. Few nodes serve light clients, and this results in a poor experience for mobile wallets. So Celo designed a protocol to incentivize users to operate regular nodes. With Celo, light clients pay a per-transaction fee to full nodes. Clients include in every transaction the address of a node which, when the transaction is processed, receives this fee. Full nodes advertise a minimum fee, and may choose to refuse to process transactions for which it will not receive the fee or it deems the fee insufficient.
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Mengfan Zhang: Celo is a carbon-negative, Layer-1 protocol with a rich ecosystem of global partners building Web3 applications, including in DeFi, NFTs, and payments, in support of Celo’s mission to create a more accessible and inclusive global financial system. Accessible to anyone with a smartphone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (Celo Protocol), the CELO token, and stablecoins (cUSD, cEUR, cREAL). Additionally, the ecosystem is supported by the Alliance for Prosperity, which consists of over 150 mission-aligned Celo Foundation members around the globe, including Deutsche Telekom, PayU, Opera, Andreessen Horowitz, Anchorage, Coinbase, GSMA, Grameen Foundation, Prosegur, Abra, and cLabs, a service organization dedicated to growing and developing the Celo ecosystem. For more information, please visit: celo.org.
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