Celo Migrates To Ethereum Layer 2
On Monday morning, CLabs, the company that created the Celo blockchain, saw their proposal to convert Celo from an independent layer-1 blockchain to an Ethereum layer-2 solution succeed.
There were 131 votes total, with 128 votes in favour of the transition, two votes against it, and one abstention, according to the proposal page.
The cLabs team announced a proposed move to the Ethereum community on July 16, following months of research and discussions with Celo and Ethereum community members.
The modification intends to improve security, make it easier for Celo and Ethereum to share liquidity, and make development easier. Celo is already compatible with the Ethereum Virtual Machine (EVM), allowing Ethereum developers to easily port over existing apps or develop new ones using similar tools. The benefits include stronger security assurances, a trustless bridge to Ethereum, and simplified liquidity sharing between Celo and Ethereum.
(With inputs from Shikha Singh)
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