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cLabs, the core developer of the Celo blockchain, has unveiled a daring plan to rework its Layer 1 community right into a Layer 2 resolution constructed on Ethereum. This strategic transfer goals to boost security ensures and enhance the general performance of the platform.
The proposal, shared on the venture’s governance discussion board, outlines the imaginative and prescient for a future model of Celo primarily based on a Layer 2 roll-up mannequin. Below this strategy, security proofs shall be revealed to the Ethereum mainnet, leveraging Ethereum’s strong security infrastructure to offer even stronger assurances than Celo presents by itself.
To facilitate this transition, cLabs intends to make the most of the OP Stack, modular tooling supplied by Optimism. This may allow them to custom-build the necessities for his or her chain. Comparable methodologies have been efficiently carried out by main cryptocurrency trade Coinbase for his or her Layer 2 community, Base. As a part of the Layer 2 structure, cLabs plans to develop a decentralized sequencer utilizing Celo’s present validator set, making certain a number of entities can contribute to securing the chain. Moreover, they may leverage EigenDA, an information availability layer from the re-staking venture EigenLayer, to scale back storage charges for the community.
As an Ethereum Digital Machine (EVM)-compatible blockchain, Celo garnered vital assist from distinguished enterprise corporations, together with a16z and Polychain Capital, with a $30 million funding spherical in 2019. Subsequently, the venture raised one other $20 million in 2021.
At the moment, the Celo community hosts numerous Ethereum-based decentralized functions corresponding to Uniswap and Sushiswap, together with native functions like Valora, Mento, and UbeSwap.
Importantly, the proposal highlights that migrating Celo’s EVM-compatible Layer 1 to an Ethereum Layer 2 resolution shall be a technical improve that won’t disrupt the present Celo ecosystem of functions. The transition goals to boost security measures whereas sustaining compatibility and continuity for Celo customers and builders.
By embracing Ethereum’s Layer 2 options, cLabs goals to leverage the strong security ensures of the Ethereum mainnet whereas unlocking new potentialities for scalability and performance. The proposed transition displays cLabs’ dedication to steady innovation and its dedication to offering an enhanced person expertise inside the Celo ecosystem.
Because the proposal progresses, group suggestions and collaboration will play a significant position in shaping the way forward for Celo’s Layer 2 resolution. With the assist of its blue-chip backers and the broader developer group, cLabs is poised to strengthen Celo’s place as a number one blockchain platform for decentralized functions, ushering in a brand new period of enhanced security and scalability.
