celo, one from a standalone EVM compatible Layer 1 blockchain in its current state Ethereum He announced his proposal to convert to a Tier 2 solution.
The plan includes moving from being a standalone EVM-compatible Layer 1 blockchain to being an Ethereum Layer 2, opening the doors for enhanced integration and collaboration with the Ethereum ecosystem. The proposal will be discussed at a management call scheduled for 21 July.
After months of detailed research by the cLabs team and preliminary discussions with key Celo and Ethereum community members, the proposal outlines an architecture where Celo leverages the OP Stack to operate as an Ethereum Layer 2.
This transition will bring a few key changes, including a decentralized sequencer powered by Celo’s existing suite of validators and running the Byzantine Fault Tolerance consensus.
In addition, the off-chain data availability layer, operated by Ethereum node operators and protected by restaked ETH, will add further security measures.
According to the developers’ statement, this design will allow Celo to maintain its low fees while maintaining tier 1 block finality.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!