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Read more: Top 5 Projects Are Using The Optimism OP Stack
Following a meticulous eight-month evaluation period involving prominent scaling technologies like Arbitrum Orbit and zkSync’s ZK Stack, cLabs, the core developer behind Celo, has opted for the OP Stack within the Optimism ecosystem.
Last July, the community’s approval via a governance vote marked a pivotal moment, signaling Celo’s transition from its current Layer 1 network to Ethereum’s Layer 2. This shift aligns with Celo’s mission to empower users worldwide with simplified financial services, especially in underbanked regions.
Choosing the OP Stack comes after thorough deliberation, where cLabs explored multiple options, including Polygon CDK, to ensure compatibility and long-term viability. Despite considering diverse solutions, the team circled back to their initial inclination toward the OP Stack, highlighting its alignment with Celo’s overarching objectives.
Originally focused on expanding access to decentralized finance via mobile phones, Layer 2 Celo aims to develop and deploy decentralized applications (dApps) and smart contracts, particularly targeting regions with low banking penetration.
By embracing Ethereum’s infrastructure, Layer 2 Celo anticipates synergistic benefits, such as enhanced EVM compatibility, fortified network security inherited from Ethereum, and streamlined cross-chain liquidity facilitation.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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