cLabs has revealed plans to migrate its Celo network from an Ethereum Layer 2 to the OP Stack.
After a vote by the community in a governance vote The review began in July of last year and lasted eight months. Polygon CDK.
OP Labs is a contributor to the Optimism Ecosystem and provides the OP Stack for developers to create Layer 2 custom blockchains.
Celo’s Migration to the Optimism The Superchain Network, which includes chains such as OP Mainnet, Base and Basenet, is designed to incorporate it in the ecosystem, enhancing scalability, performance and scalability.
By compiling Ethereum transactions onto a second layer, optimistic rollups aim to improve the efficiency of Ethereum transaction processing.
Celo is proposed to have block time reduced from five seconds down to two, and throughput increased by 50%. Celo Testnet Layer 2 The launch is expected to take place in summer 2024, subject to further approval by the community.
Celo is undergoing a major transition.CELOIt was initially released as a Layer I blockchain that is compatible with the Ethereum Virtual Machine.
This network has garnered a lot of attention $30 million In 2019, a16z, Polychain Capital and other major investors will provide funding of up to $1.5 billion. $20 million In 2021, support for a wide range of applications will be available, including established Ethereum dApps such as Uniswap Sushiswap is compatible with Celo native projects like Valora, UbeSwap and others.
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Source: crypto.news