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Celo Transitions to Ethereum Layer 2
In a major breakthrough, Celo has successfully transitioned from a standalone Layer 1 blockchain to an Ethereum Layer 2 network, marking a significant milestone in its development journey. This upgrade is expected to have a profound impact on the scalability, interoperability, and overall efficiency of the blockchain.
As part of this upgrade, Celo’s block times have been reduced significantly, now taking just 1 second compared to its previous 5 seconds. This improvement in transaction speed is likely to enhance the user experience, making it more appealing for users to adopt the platform.
Moreover, the integration with Ethereum enables seamless asset transfers between the two networks, which could lead to a more interconnected and efficient blockchain ecosystem. Celo’s position as a blockchain network has been strengthened by this move, positioning it as a go-to solution for those seeking scalability, security, and interoperability.
In conclusion, this milestone achievement paves the way for greater innovation and adoption in the decentralized world.
Source: https://coinpedia.org/crypto-live-news/celo-transitions-to-ethereum-layer-2/
