Celo becomes Ethereum L2 with Optimism rollup implementation

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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 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 (USDT) and USDC (USDC) as gas.

Celo first proposed this transition in the summer of 2023, and it is now completed after block production on the old layer-1…



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Celo becomes Ethereum L2 with Optimism rollup implementation


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 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 (USDT) and USDC (USDC) as gas.

Celo first proposed this transition in the summer of 2023, and it is now completed after block production on the old layer-1…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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