Celo, the blockchain network launched in 2020, has officially transitioned from a layer-1 chain to an Ethereum layer-2 protocol.
Celo announced the successful transition in a March 26 X data-ct-non-breakable=”null” href=”https://x.com/Celo/status/1904776407215202508″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/Celo/status/1904776407215202508″>post, stating that “Celo is officially an Ethereum layer 2” protocol. In the thread, the organization claimed the new protocol features one-second blocks, sub-cent transaction costs, and Tether’s USDt ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/tether-price-index” rel=”null” target=”null” text=”null” title=”null”>USDT) and USDC ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/usdc-price-index” rel=”null” target=”null” text=”null” title=”null”>USDC) as gas.
Celo first data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/celo-blockchain-proposes-return-to-ethereum-ecosystem-transition-to-l2″ rel=”null” target=”null” text=”null” title=”null”>proposed this transition in the summer of 2023, and it is now completed after block production on the old layer-1…
