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cLabs Proposes a Celo Transition to an Ethereum L2 Protocol

Published 16/07/2023, 08:40
© Reuters. cLabs Proposes a Celo Transition to an Ethereum L2 Protocol
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  • cLabs is planning to return Celo to the Ethereum network.

  • The financial company calls for feedback on the proposed transition from the Celo community.

  • Celo will leverage the OP Stack to become an Ethereum Layer 2 protocol.

Celo, the carbon-negative, permissionless, layer 1 blockchain for building innovative Web3 dapps, is returning to the Ethereum network. cLabs, the financial company behind Celo, has released a proposal in this regard, calling for feedback and discussion on the subject from the Celo community.

According to the proposal, cLabs plans to return Celo to Ethereum by “transitioning from an independent EVM-compatible Layer 1 blockchain to an Ethereum Layer 2.” By transitioning to Ethereum, Celo will leverage the OP Stack to become an Ethereum Layer 2 protocol.

The cLabs team explained that the transition would introduce significant differentiators. It mentioned differentiators like a decentralized sequencer powered by Celo’s existing validator set running Byzantine Fault Tolerance consensus. It also noted that the transition will enable an off-chain data availability layer powered by EigenLayer and EigenDA. Ethereum node operators will op…

The post cLabs Proposes a Celo Transition to an Ethereum L2 Protocol appeared first on Coin Edition.

The post cLabs Proposes a Celo Transition to an Ethereum L2 Protocol appeared first on Coin Edition.

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