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CLabs, the organisation behind the event of the Celo blockchain, is planning to transition from being an unbiased EVM-compatible layer-1 blockchain to an Ethereum layer-2 answer, marking a return to the Ethereum ecosystem.
In line with a proposal mentioned on Celo’s governance discussion board, the transition entails adopting the OP Stack structure to change into an Ethereum layer-2 blockchain. This transfer eliminates the necessity to monitor tooling and library composability by upgrades, making it simpler for Celo builders to make use of Ethereum instruments and libraries.
The transition additionally entails implementing an off-chain information availability layer operated by Ethereum node operators and guarded by restaked Ether (ETH). Moreover, the present validators can be reworked into decentralised sequencers for the layer-2 answer.
Layer-1 and Layer-2 blockchains serve completely different functions and have distinct designs and architectures. Whereas Layer-1 networks are self-sufficient, Layer-2 options purpose to reinforce the efficiency of Layer-1 blockchains reasonably than function independently.
The proposed transition provides a number of advantages, together with elevated safety and low fuel charges. The expectation is that fuel prices is not going to considerably change, because the proposal focuses on an L2 answer with off-chain information availability, doubtlessly resulting in decrease fuel prices than different L2 options. The proposal is scheduled for dialogue on a governance name on July 21, adopted by a “temperature examine” the following day.
If the proposal is adopted, end-users is not going to be affected by the migration, and CELO token holders will retain management over core contracts by voting on governance proposals. CELO tokens may even be used for paying fuel charges.
Whereas the transition seems to be a technical change, it could affect the Celo ecosystem in varied methods. In line with the discussion board dialogue, it might facilitate elevated liquidity circulate between Celo and different chains. Nonetheless, it could additionally incur extra prices for sequencers, comparable to charges on the info availability layer and fuel on Ethereum. Whether or not the sequencers’ rewards will match the present validators’ rewards stays unclear.
Because the blockchain panorama grows extra aggressive, Celo has centered on enhancing the cell expertise, introducing enhanced performance and particular options. The Celo ecosystem additionally targets growing economies with a larger demand for technological cost options.
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