- Based on Optimism’s OP Stack, Celo has successfully deployed its Dango Layer 2 testnet.
- The successful testnet launch represents the first significant step in Celo’s proposal to convert its Layer 1 blockchain into an Ethereum Layer 2 network, which was approved by a referendum held last summer.
Launching its Dango Layer 2 testnet is a significant first step towards Celo CELO -5.15%, the mobile-first Layer 1 blockchain, joining the Ethereum ETH -5.072% ecosystem.
EVM-compatible Celo decided in July of last year to turn its Layer 1 network into an Ethereum Layer 2 chain. After evaluating Optimism’s OP -4.71% Stack for eight months, the Celo community decided to develop the Layer 2 network, joining Base, Zora, Mode, and other Ethereum Layer 2 networks in Optimism’s so-called Superchain ecosystem.
It will soon be simpler to bridge tokens between Ethereum and Celo, even though users of Celo can still utilize native USDT and USDC stablecoins to cover gas expenses on the new network. According to Celo’s statement, transactions will also be speedier, with a 50% improvement in throughput and a block time reduction from 5 seconds to 2 seconds.
According to Celo core developer and cLabs CTO Marek Olszewski, it’s getting harder for most EVM-compatible chains to defend a solo standing in a market where the Ethereum scaling roadmap is establishing itself. .
The release states that the Celo team plans to launch the mainnet in early winter 2024.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
