As part of their Celo project, the lead developer at cLabs plans to transition to an advanced EVM operating on zero-knowledge proof technology. However, the team has decided to postpone the selection of a technology provider for their L2 network until January 2024.
In a forum address, cLabs invited the community to participate in choosing the main components for the new platform. For this purpose, a special system was created to evaluate various L2 technological solutions in order to make a final decision.
The developers urged the community not to judge the stacks based on criteria such as the total value of assets locked in smart contracts, the number of transactions, or users. They emphasized the need for not just the best L2 solution, but one that best meets the specific technical and fundamental needs of the Celo L2 project.
cLabs hopes to reach a consensus on this issue by mid-December 2023, after which they will begin a detailed assessment of each stack's compliance with the platform's requirements. This process is expected to last until mid-January 2024.
In July, cLabs announced their intention to deploy Celo as an L2 network using OP Stack from Optimism, which forms the basis for the second-level Base network launched by the Coinbase cryptocurrency exchange. The Polygon project also offered cLabs to use their CDK to create an L2 network. Additionally, representatives from Matter Labs presented their ZK Stack for consideration.
According to data from the DeFiLlama analytics platform, Celo ranks 27th among DeFi (decentralized finance) projects in terms of locked funds, with a TVL of $102.89 million at the time of writing.
