Celo blockchain has transitioned into the Ethereum ecosystem as a layer 2 network, opening new possibilities.
New Step for Celo
The proposal to make Celo a layer 2 network was first published in July 2023. Now, Celo is part of Ethereum's ecosystem, valued at $455 billion.
Impact on the Crypto Space
The migration has strengthened Celo's presence in the crypto space, causing a 12% rise in the token's price over the week. Currently, CELO trades near $0.4.
This was made possible by cLabs engineers working for over 20 months to preserve the network's state.Celo Team
Technological Basis and Future
Celo's technology is based on the OP stack and EigenDA, ensuring minimal block time and allowing token-based gas payments.
Celo bridges the best of both worlds: real-world adoption focus and Ethereum's security.Official Release from Celo
Celo's transition as a layer 2 network within Ethereum solidifies its position and opens new technological fronts.
