The Celo network has switched to Ethereum L2

The idea of ​​Celo migration to the second level (L2) Ethereum was proposed back in 2023. The goal is to strengthen safety and scalability, as well as improve conditions for developers.

CELO blockchain has officially become part of Ethereum exoscoster. We talk about the main changes.

CELO transition to Ethereum l2

On Wednesday, March 26, the CELO blockchain completed the migration in the L2 network based on Ethereum, using Op Stack from Optimism and Eigenda from Eigenlayer to ensure the availability of data.

The update was activated at the height of the block 31 056 500. Now Celo relies on Ethereum as a base layer, which should increase the security of the network. In addition, the upgrade also improved compatibility with the ETH blockchain, while maintaining low commissions and high transactions.

The first proposal for the transition to Ethereum L2 was announced in July 2023. Since then, the developers tested the update and discussed changes with the community.

The transition process began early in the morning of March 26. The CLABS team announced the beginning of the hard fork in X (formerly Twitter). CELO validators deliberately stopped creating blocks to deploy an upgrade. In less than two hours, the blocks began to be created on Ethereum L2.

Consequences for users and developers

Migration to the second level of Ethereum, first of all, is aimed at increasing the safety and reliability of the CELO network. In addition, the blockchain is now easily integrated with the maintennet tools, including wallets, decentralized applications (Dapps) and bridges.

The update also significantly accelerated the transactions – blocks are created in one second instead of five. In addition, the cost of transfers in Celo remained low – approximately $ 0,0005.

Ethereum developers have the opportunity to easily create applications on Celo. The co -founder and general director of Clabs Marek Olshevski called the migration “inspiring return home” for Celo.

After the transition announcement, the price of Celo in the moment increased by almost 4%. At the time of writing this material, the asset is traded at $ 0.39.

The CELO transition to Ethereum L2 was also supported by the co -founder of the blockchain second in capitalization of cryptocurrency Vitalik Buterin.

“The Celo project has done a lot for the global spread of cryptocurrencies, and I am glad to see how Celo fully joins the Ethereum family,” he said.

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Source: Cryptocurrency

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