Celo Blockchain is currently seeking to move from a standalone layer-1 blockchain to an Ethereum layer-2 solution.
CLabs, the developer behind the Celo blockchain, is currently looking to move into the Ethereum ecosystem. The team suggested this via a Twitter announcement saying that the decision comes after “months of research and initial discussions with members of the Celo and Ethereum community.”
According to the announcement, the proposal seeks to transition the Celo blockchain from a standalone layer-1 blockchain to an Ethereum layer-2 solution. However, a final decision will not be reached until after a community vote on Saturday, July 22nd.
Experts say Celo Blockchain is excited to see huge traffic gains
The Celo team appears to be in high spirits for the expected migration. According to the technical analysis of the proposed migration to the Ethereum ecosystem, the blockchain is expected to gain a lot of benefits. This includes improved security, greater fluidity, and more compatibility, among other things.
Meanwhile, the migration is expected to initially be based on Optimism’s OP Stack. As evaluated in A mail On the Celo forum:
Migrating Celo to use the OP stack eliminates the need for compatibility monitoring, making it easier for Celo developers to take advantage of the full maneuverability of the Ethereum tools/libraries.
Besides, Celo already works well with the Ethereum Virtual Machine or EVM. So, in terms of compatibility, Ethereum developers can simply port their existing applications. And if they want to create new tools, they can do so easily, using many of the same tools they are already familiar with.
CELO Token Surges
Meanwhile, CELO, the blockchain’s native token, reacted positively to the announcement. Although this is not exactly unexpected. Token spikes are a common occurrence when major upgrades like this are about to happen. As of publication, CELO is up nearly 9.96% in the past week, to $0.545. According to CoinMarketCap dataThe token has gained more than 35% over the past month.
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Mayowa is a cryptocurrency writer/enthusiast and his conversational personality is quite evident in his writing style. He strongly believes in the potential of digital assets and takes every opportunity to replicate it. He is a reader, researcher, skilled speaker, and budding entrepreneur. Outside of cryptocurrency, Mayowa’s imaginative diversions include soccer or discussing global politics.
