This Altcoin Followed by Turkish Users Announced Its New Roadmap, There Has Been a Price Jump!

Turkish users also follow its development closely. from altcoins one who Celo (CELO), announced its roadmap for the upcoming period on its official blog site.

With the announcement of the roadmap, there was a sudden increase in the price of the altcoin.

Chart showing the spike in CELO price.

Celo Altcoin Team Announces Roadmap for the Future of the Token

Here’s Celo cryptocurrency The main points that the team mentioned in the roadmap published in detail:

“The Celo ecosystem was launched in 2020 with the goal of creating a carbon-negative blockchain platform for easy payments and fixed-value transfers. It has been successful in meeting this goal and has also been used to launch projects such as ImpactMarket and GoodDollar, which paid $3.3 million to 536,000 people in 26 emerging economies.

The next chapter of Celo is deep alignment with the Ethereum Roadmap, horizontal scalability, fast EVM L1, improving CELO tokenomics, rewarding participants, providing a premium developer experience and powerful building blocks for wallets and applications.

And in addition, it focuses on being the best platform for scaling and implementing all Web3 projects that enhance the regenerative economy.”

In the second part of the statement, Celo altcoin developer team cLabs explains that they believe Celo can achieve horizontal scalability by using L2 rollups on the L1 chain.

They argue that compared to other options, such as light-client bridges or sharded subchains connected via a beacon chain, rollups are the most secure and flexible way to structure a subchain ecosystem.

cLabs also states that they plan to contribute to rollup development in a variety of ways, including making Celo a cohesive platform for L2s and L2 development teams, and creating a great testing environment for startups and developers to explore rollups and sidechains.

They also suggest adding precompile for BW-6 and Halo 2 compatible Pasta curves for consideration in an upcoming hard fork. cLabs also wants to allow multi-stake in Celo’s Proof-of-Stake mechanism to help L2s achieve a high-quality validator group and reduce their capital costs.

In a nutshell, cLabs, the team behind Celo, has outlined a roadmap for the future development of the Celo ecosystem. The roadmap includes several key focus areas:

  • Building a robust tier 2 scaling solution for Celo; this solution includes exploring rollup usage and working with Hyperlane to explore new opportunities for interoperability across different L2s.
  • Working with Mysten Labs to recommend scaling solutions for Celo to deliver high performance while maintaining full EVM compatibility, making Celo the fastest EVM L1.
  • Reward contributors by exploring ways to improve CELO tokenomics and make the CELO token deflationary, and by enabling on-chain management to use the fees paid to the Community Fund in other assets to reclaim and burn CELO.
  • Providing a premium developer experience by giving developers access to best-in-class tools, services, and APIs, and providing great documentation, tutorials, and glue code.
  • Combinable liquid staking protocol, an evolution of Celo’s original decentralized phone number mapping, creating powerful building blocks for wallets and applications such as stCelo and SocialConnect.

*Not investment advice.

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