Celo Chooses Optimism, Concluding Bake-Off Among Layer 2s
CLabs officially proposed using Optimism’s OP Stack for the transition. The proposal will be discussed on a couple of community calls and then go to a vote among holders of the project’s CELO tokens, under the chain’s governance rules.
The Graph Expands Subgraph to More Than 40 Blockchains Including Arbitrum, Base
The indexing layer is also expanding to Avalanche and Celo.
Tether’s USDT Now Available on Celo
The USDT integration aims to boost cross-border payments and peer-to-peer transactions in developing regions.
Circle to Issue Its Stablecoin USDC on Celo Network to Boost RWA Capabilities
Celo, which is in the midst of transforming into an Ethereum layer 2 network, increasingly positions itself as a blockchain for real-world assets.
Celo, Shopping for Blockchain Partner, Turns to the Delicate Issue of Money
A standalone blockchain, Celo is looking to migrate to become a layer-2 network atop Ethereum. The months-long selection process has started to look like “The Bachelorette,” with teams behind the Arbitrum, Optimism, Polygon and zkSync networks all vying to win the technology mandate.
Arbitrum Throws Hat In Ring for Celo’s Migration to Layer-2 Blockchain
Celo originally planned to build its Ethereum layer-2 network with Optimism’s OP Stack. Then Polygon and Matter Labs pitched their stacks. Now, Arbitrum, the biggest layer-2, wants in on the bake-off.
Arbitrum Throws Hat In Ring for Celo’s Migration to Layer-2 Blockchain
Celo originally planned to build its Ethereum layer-2 network with Optimism’s OP Stack. Then Polygon and Matter Labs pitched their stacks. Now, Arbitrum, the biggest layer-2, wants in on the bake-off.
Celo Developer Proposes Mid-January Timeline for Evaluating Closely Watched Layer-2 Move
With hot competition between layer-2 technology providers like Optimism, Polygon and Matter Labs, Celo’s choice is being closely watched by the blockchain industry.
Tokenized RWA Platform Untangled Goes Live, Gets $13.5M Funding to Bring Private Credit On-Chain
Tokenized real-world asset (RWA) marketplace Untangled Finance went live Wednesday on the Celo network after securing a $13.5 million venture capital boost to bring tokenized private credit to the blockchain, the company told CoinDesk.
The Protocol: Which Ethereum Layer-2 Project ISN’T Competing to Land Celo?
In this week’s issue of The Protocol, we highlight layoffs hitting key firms as well, and how blockchain projects are competing for new mandates – specifically big Ethereum layer-2 developers like OP Labs, Polygon and Matter Labs vying to provide the technology for the Celo blockchain’s new network
Celo Considers Transitioning To Ethereum Layer-2 With Polygon Chain
Celo, a blockchain platform, is exploring migrating from its standalone blockchain to an Ethereum (ETH) Layer-2 (L2) network. Originally, Celo had planned to utilize Optimism’s OP Stack, a customizable toolkit similar to Polygon (MATIC) but based on Optimism’s technology.
However, Sandeep Nailwal, co-founder of Polygon Labs, has proposed an alternative solution to the Celo community. Nailwal suggests leveraging Polygon’s Chain Development Kit (CDK), an open-source toolset that enables the creation of customizable Layer-2 chains powered by zero-knowledge (ZK) technology.
Celo’s Potential Move To Ethereum Layer-2 Via Polygon
In a recent blog post, Polygon Labs suggested Celo could consider deploying an Ethereum Layer-2 solution using Polygon CDK.
According to Polygon Labs co-founder Nailwal, this strategy would allow Celo to leverage the benefits of being an Ethereum Layer-2 platform while preserving the characteristics that have contributed to its success.
The proposal emphasizes several key advantages of adopting Polygon CDK. Firstly, it enables cross-community collaboration by integrating with an ecosystem of Layer-2 solutions powered by zero-knowledge technology.
Polygon CDK enhances compatibility with Ethereum by providing an environment equivalent to the Ethereum Virtual Machine (EVM). This alignment ensures a seamless transition for Celo, closely matching Ethereum’s technical infrastructure and tooling.
Furthermore, according to Nailwal, deploying with the protocol’s CDK offers increased security for Celo. It allows Celo to leverage Ethereum’s proven consensus layer while incorporating the security benefits of zero-knowledge proofs.
Regarding fees and scalability, Celo can benefit from low fees by utilizing the zkEVM validium architecture and off-chain data availability supported by Polygon CDK. These features contribute to cost-efficient transactions while enabling scalability for Celo’s network.
Moreover, according to Nailwal, Celo gains access to a unified Layer-2 economy by becoming a part of the Polygon ecosystem by combining Ethereum’s mainnet with Polygon’s ecosystem. This integration creates a seamless experience for developers and users, facilitating interaction with both networks.
Fast Transactions And Lower Fees?
With zero-knowledge technology, Celo users can enjoy near-instant withdrawals, faster finality times, and instant cross-chain interactivity.
According to the blog post, these features enhance the speed, efficiency, and security of transactions, ultimately improving the user experience.
Through Polygon CDK, chains can achieve near-instant cross-chain interactivity with Ethereum, leveraging the power of ZK proofs to establish a secure and interconnected network.
Overall, the proposed migration to Polygon CDK represents an opportunity for Celo to transition to an Ethereum Layer-2 solution while harnessing the advantages offered by Polygon’s ZK-powered technology. The proposal aims to initiate discussions between the Celo and Polygon communities to explore the potential benefits for all stakeholders involved.
It is important to note that no final decision has been made at this stage, and the proposal signifies the beginning of discussions between the Celo and Polygon communities.
Featured image from iStock, chart from TradingView.com
Polygon Emerges as Suitor for Celo’s New Layer-2 Blockchain, Competing With OP Stack
Celo, which is ditching its standalone blockchain in favor of a new “layer-2” network atop Ethereum, had originally signaled plans to rely on Optimism’s OP Stack, a similar customizable kit to Polygon’s but using Optimism’s “optimistic” technology.
Google Cloud Is Running a Validator on Celo Network
The cloud service joins Deutsche Telekom and other ecosystem contributors to participate in validating the Celo platform.
Celo Proposal to Migrate to Ethereum Layer 2 Passes
The change seeks to simplify liquidity sharing between Celo and Ethereum while boosting security.
Celo Proposes to Ditch Own Standalone Blockchain for Layer-2 Network on Ethereum
The development team behind the independent Celo blockchain says benefits could accrue from transitioning to the Ethereum ecosystem, in terms of greater liquidity, improved security and more compatibility.
Celo blockchain proposes return to Ethereum ecosystem, transition to L2
According to cLabs, the Celo transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain.
Chainlink Data Feeds Go Live on Celo
In April, Celo joined Chainlink Scale to access the data provider’s oracle services at a low cost.
Celo Joins Chainlink Program Giving Developers Access to Data Feeds
More than 90 Celo community members voted in favor of joining the Chainlink Scale program and only three voted against.
Google Cloud to Offer Workshops, Cloud Computing Services for Builders on Celo
Participants of Celo’s Founders in Residence program and developers on the Layer-1 protocol will receive guidance and services.