Celo’s pioneering development team, cLabs, has unveiled their intention to upgrade the Celo blockchain by shifting towards an Ethereum Layer 2 solution through the use of the OP Stack.
Last summer, the Optimism community endorsed the use of OP Stack, a significant development platform within their ecosystem, through a governance vote. Prior to this decision, an in-depth assessment lasting eight months was conducted to evaluate various scaling solutions. Among these were Arbitrum Orbit, zkSync’s ZK Stack, and Polygon CDK.
At OP Labs, we contribute to the Optimism community by offering the OP Stack, an essential toolkit for developers seeking to build their own custom Layer 2 blockchains.
Celo’s move to Optimism aims to connect it with the Superchain network, encompassing OP Mainnet and Base, boosting scalability and speed.
In simpler terms, integrating optimistic rollups in our Ethereum community can help process transactions more effectively, reducing scalability issues by bundling multiple transactions together and handling them off-chain before confirming them on the Ethereum blockchain.
Today is a special day for Celo community as we celebrate the 4th anniversary of its mainnet launch on Earth Day 2020! In honor of this milestone, the Celo Labs team announces their recommendation for Celo’s next step: a transition to an Ethereum Layer 2 solution. Let’s join forces, @Celo and @Optimism, in making it happen! 🧵↓ (unrolling the carpet)
— Celo 🦇 🌳 (@Celo) April 22, 2024
The suggested improvements for Celo involve shortening block durations from five seconds to two and boosting its capacity by 50%. A planned trial run for Celo’s Layer 2 testnet is slated for the summer of 2024, subject to additional community consent.
Celo (CELO) experiences a significant shift with the adoption of new features, originally introduced as a Layer 1 blockchain that can run Ethereum Virtual Machine (EVM) applications.
A network that secured $30 million in investment from prominent backers, including a16z and Polychain Capital, in 2019, and an extra $20 million in 2021, accommodates a diverse array of applications. These include well-known Ethereum apps like Uniswap and Sushiswap, as well as native projects on the Celo platform such as Valora and UbeSwap.
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2024-04-22 17:54