Telefónica-validated open-source blockchain Celo is being transformed into an Ethereum Layer 2 network.
Celo Network celebrated 4 years since its official launch on April 22, known as International Earth Day, and as part of its anniversary celebration, its creators shared more details about the proposal to migrate the blockchain to the Ethereum ecosystem, the second largest blockchain ecosystem by capitalization in the crypto industry.
Through X, Celo developers announced that the blockchain, which is compatible with the Ethereum Virtual Machine (EVM), will become an L2 of Ethereum using Optimism's technology, OP Stack.
Celo developers proposed transforming the blockchain into an L2 network last year, submitting a governance proposal that was unanimously voted on and approved by the crypto community.
As they wrote on the social platform, after the vote, an evaluation process of the different Ethereum L2 technologies began, including Polygon CDK, Arbitrum Orbit, ZK Stack, and OP Stack. These evaluations included a series of tests, in order to determine the technology that best suited the needs of the Celo network and its community.
Celo will become an Ethereum Layer2
OP Stack turned out to be the technology chosen by Celo’s creators for the blockchain network transition. Optimism’s tech stack “allows for a clear path to implementing an L2 without compromising the needs of the Celo community,” the chain’s developers said on the social platform. At the same time, they highlighted the advantages of the “battle-tested” Op Stack.
This technology stack allows developers to build on Ethereum securely, using cutting-edge tools that facilitate the creation of new chains and protocols.
Projects like Base, one of the emerging L2s in the Ethereum ecosystem; Farcaster, a Web3 social protocol, and Zora Network, an L2 focused on NFT tokens, have all been built using the OP Stack.
Why will the Celo network migrate to Ethereum?
In the middle of last year, when the governance proposal In migrating Celo to Ethereum, the developers said that moving from an independent chain to an L2 chain would primarily benefit liquidity by significantly simplifying the exchange of liquidity between the two blockchain ecosystems.
Celo Network developers also highlighted community collaboration, increased security, and improved compatibility as benefits of the transaction to Ethereum’s second-layer ecosystem. As read in the governance proposal, all of these benefits will foster a seamless developer experience for Celo builders.
On the other hand, the developers also emphasized that the transition from an L1 to an L2 chain will not affect the mission or goals of the Celo community, but will rather reinforce innovation, in order to “continue to foster a financially inclusive community and build openly in the spirit of Web3.”
From Ethereum's second-layer ecosystem, Celo hopes to bring new real-world blockchain use cases that will drive adoption of the technology.
As for end users, developers said they won't notice any changes when the network launches as an L2 on Ethereum.
Continue reading: Telefónica becomes validator of the Celo blockchain
