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Home»ALTCOIN NEWS»Will Celo’s Recent Moves Help It Dominate the Layer 2 Segment?
ALTCOIN NEWS

Will Celo’s Recent Moves Help It Dominate the Layer 2 Segment?

By Crypto FlexsJuly 9, 20243 Mins Read
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Will Celo’s Recent Moves Help It Dominate the Layer 2 Segment?
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  • Celo has launched Dango, a layer 2 testnet that signals early steps toward integration with the Ethereum ecosystem.
  • Celo leveraged Optimism’s OP stack to make this plan a reality.

In a major move toward becoming part of the Ethereum (ETH) ecosystem, Celo, a blockchain platform designed specifically for mobile phone users, has launched the Dango Layer 2 testnet. This represents a major step forward in Celo’s plans to integrate with Ethereum.

It takes two to make a dango

The Dango testnet proposed at EthCC 2023 facilitates the migration of developers to a new iteration of the Celo blockchain focused on fast, global transactions. The testnet preserves historical data from Alfajores, including smart contracts, accounts, and balances, ensuring a smooth transition.

Built on Optimism’s OP Stack, Dango combines Celo’s layer 1 security with the scalability and interoperability of the OP Stack framework.

Implemented with support from the Eigen Foundation and community support, EigenDA reduces transaction fees within Dango’s Layer-2 architecture.

This architecture prioritizes low cost and efficiency, increasing transaction speeds by 50% (block processing time reduced from 5 seconds to 2 seconds).

Dango Layer-2 provides features such as seamless bridging of WETH and ERC-20 tokens for transfers between Ethereum and Celo, and single block finality for fast and secure transactions.

It supports CELO token interactions on both native platforms and the ERC-20 standard, providing developers with flexibility. Dango also expands payment options by accepting payments using a variety of ERC-20 tokens, including $USDT and $USDC.

Dango’s SocialConnect feature allows you to send and receive funds using your phone number or email address, simplifying trading for those new to cryptocurrency.

Lower gas fees will help keep Dango’s price down, potentially increasing cryptocurrency adoption worldwide.

What’s next for Dango?

With the launch of the Dango testnet, infrastructure providers have started upgrading their Layer 2 node code.

Once all major vendors implement updates to be compatible with the new design, the Alphahores testnet will undergo the upgrade without requiring a separate blockchain fork.

A streamlined process allows developers to test user applications on upgraded networks without affecting the functionality of real-world applications.

Successfully achieving this important milestone ahead of our target summer 2024 date sets the stage for the Celo Layer-2 mainnet launch scheduled for early winter 2024.

The Celo Foundation and cLabs are committed to driving innovation and empowering the blockchain community to ensure a smooth transition and robust growth for both developers and users.

Previous: Ethereum: Why Whales Failed to Reverse ETH’s Downtrend

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