News Explorer — Celo Mulls Move Away from Independence to a Level-2 Ethereum Blockchain

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Jul 17, 5:35 pm

Coindesk

Celo Mulls Move Away from Independence to a Level-2 Ethereum Blockchain

CLabs, the developer of Celo blockchain, has proposed transitioning from an independent layer1 blockchain to an Ethereum layer2 solution. This move aims to simplify liquidity sharing, enhance security, and provide a seamless developer experience. Celo already supports smart contracts similar to Ethereum and is considering using EigenDA for offchain data availability. The native token, CELO, has experienced a significant increase in value and gained support from Ethereum founder Vitalik Buterin.

CLabs, the developer of Celo blockchain, has proposed transitioning from an independent layer1 blockchain to an Ethereum layer2 solution. This move aims to simplify liquidity sharing, enhance security, and provide a seamless developer experience. Celo already supports smart contracts similar to Ethereum and is considering using EigenDA for offchain data availability. The native token, CELO, has experienced a significant increase in value and gained support from Ethereum founder Vitalik Buterin.

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