According to Chaskin, Celo’s transition allowed the network to decrease inflation, streamline its code, accelerate block times, and integrate with Ethereum, which he described as housing “the largest dev community in crypto.”

Ethereum co-founder Vitalik Buterin joined in on Wednesday, providing guidance for those keen on developing layer-2 networks. Buterin reinforced and expanded on Chaskin’s position, stating that the optimal way to construct a layer-2 is to fully leverage Ethereum’s strengths, which include security, data availability, and resistance to censorship.

He suggested that networks could minimize their logic to being a sequencer and a prover over the core execution. Buterin encouraged layer-2s to simplify their processes as much as possible and concentrate on their sequencer, which determines transaction order, and its prover, which provides evidence of valid and correctly executed transactions.

Buterin contends that this method offers the “trust minimization and efficiency” that corporate blockchain developers in the 2010s strived for but couldn’t achieve. He stated, “Now, with Ethereum L2s, you can achieve it,” adding that there have already been successful instances of the layer-1’s features safeguarding users’ rights when something goes awry on the layer-2.

The remarks of Chaskin and Buterin underline a shift in strategy for blockchain networks. As Ethereum fortifies its network, they suggest that the most tactful move might be to cease competition with Ethereum and commence building on it.

In the wake of the Ethereum Foundation’s announcement to incorporate a zero-knowledge Ethereum Virtual Machine (zkEVM) into the network within a year, Buterin’s comments seem particularly pertinent. Sophia Gold, a developer on the Ethereum Foundation’s protocol support team, recently outlined a plan to substitute traditional block execution within the network with zero-knowledge proofs (ZK-proofs). This would mean validators only need to verify ZK-proofs, rather than re-running transaction blocks.

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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.

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