Celo Blockchain Preps to Transition to Ethereum Layer-2 Network

CLabs, the developer behind the Celo blockchain, is at the moment eyeing a transition to the Ethereum ecosystem. The workforce proposed this by way of a Twitter announcement the place it mentioned that the choice comes after “months of analysis and preliminary discussions with Celo and Ethereum group members”.

Per the announcement, the proposal seeks for the Celo blockchain to transition from an impartial layer-1 blockchain to an Ethereum layer-2 answer. Nevertheless, a ultimate choice will solely be reached after the group votes on Saturday, July 22.

Celo Blockchain to See Huge Features from Transfer, Consultants Say

The Celo workforce seems to be in excessive spirits for the anticipated migration. In response to a technical evaluation of the proposed migration to the Ethereum ecosystem, the blockchain stands to achieve a number of advantages. That features improved safety, larger liquidity, in addition to extra compatibility amongst different issues.

In the meantime, the migration is predicted to initially depend on Optimism’s OP Stack. And because it was appraised in a post on the Celo Discussion board:

“Migrating Celo to make the most of the OP stack eliminates the necessity to monitor compatibility, making it straightforward for Celo builders to make the most of the total gambit of Ethereum tooling/libraries.”

Apart from, Celo already works nicely with the Ethereum Digital Machine or EVM. So, so far as compatibility is anxious, Ethereum builders can merely simply transfer their current apps over. And in the event that they wish to create new ones, they’ll accomplish that simply, utilizing lots of the similar instruments they’re already aware of.

CELO Token Surges

In the meantime, CELO, the native token of the blockchain, has reacted positively to the announcement. Though that isn’t precisely sudden.  Token surges are frequent when main upgrades akin to this are about to happen. And as of publication, CELO has surged almost 9.96% prior to now week to succeed in $0.545. In response to CoinMarketCap data, the token has gained greater than 35% during the last month.

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