In a significant development, Celo, which started as an independent Layer 1 blockchain, has successfully transitioned to an Ethereum Layer 2 network. The formal transition on the mainnet took place on Tuesday at approximately 11 p.m. ET, marking the hard fork at block height 31,056,500. At this point, Celo ceased its Layer 1 block production and fully transitioned to Layer 2.
The shift from Layer 1 to Layer 2 was first suggested by CLabs, the project’s main developer, in July 2023. The aim behind this move was to bring Celo closer to Ethereum’s security and expansive developer community, while addressing the scalability and interoperability issues that Celo encountered as a standalone chain.
The Layer 2 development involved the use of the OP Stack, a flexible toolkit from Optimism, resulting in Celo functioning as an optimistic rollup. This transition intends to capitalize on Ethereum’s security while maintaining the benefits of Celo’s low-cost transactions and fast settlement times.
With the Layer 2 transition complete, Celo now boasts native Ethereum bridging capabilities. In addition, its block times have reduced from 5 seconds to just 1 second. Among Celo’s day-one partners are Aave, Fireblocks, Uniswap, and Yellowcard.
Looking ahead, Celo’s current validators will serve as decentralized sequencers, ensuring its one-block finality. As always, The Block remains an independent media entity that provides accurate, impactful, and timely crypto industry news.
Disclaimer: The information provided in this article is for informational purposes only and is not intended as legal, tax, investment, financial, or other advice.
