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Celo has transitioned from a standalone Layer-1 blockchain to an Ethereum Layer-2 network using Optimism’s OP Stack. This change, finalized after 20 months of testing, enhances speed, security, and developer access while maintaining low transaction costs.
The migration began at block height 31,056,500, with validators pausing block production to initiate the switch. Celo L2 went live shortly after, resuming block production in under two hours.
The move was proposed by cLabs in July 2023 to improve security and simplify development for Ethereum use cases. One significant upgrade is Celo’s new block time of one second, down from five seconds, allowing for faster transaction confirmations. The transaction fee remains low at $0.0005, benefiting both users and developers.
Developers can now build on Celo with ease, as it integrates smoothly with Ethereum, reducing the need for adjustments in tools or code. This change encourages more developer activity and eliminates reliance on third-party bridges, which have been vulnerable to exploitation.
cLabs co-founder Marek Olszewski described the migration as a “return home” for Celo, combining Ethereum’s global reach with Celo’s efficiency to expand Web3 access. Following the announcement, CELO’s price rose nearly 4%, indicating strong investor interest.
However, the transition raises questions about the necessity of Layer-2 solutions. Some, like Solana co-founder Anatoly Yakovenko, argue that well-built Layer-1s do not need L2s. Additionally, Ethereum’s fee revenue has dropped significantly as users migrate to faster networks like Celo, prompting concerns about funding for Ethereum and L2 networks.
Celo’s future success may hinge on finding new income sources, as low fees may not sustain operations. Despite skepticism about L2s, many believe in their potential. As Celo integrates into the Ethereum ecosystem, users and developers can expect improved experiences and security. Vitalik Buterin praised Celo’s efforts to broaden crypto access. The transition marks a significant moment in the evolution of L2 networks in the blockchain space.
