- Celo developers will leverage the full range of Ethereum tooling and libraries
- Moving to an L2 blockchain will offer a decentralized source for data availability
- Ethereum's economic security will provide a stronger finality guarantee
Celo blockchain developer CLabs’ proposalto transition from an independent layer-1 blockchain to a layer-2 one on Ethereum was approved this morning by a vast majority. The proposal page lists a large number of advantages of the move. Click here for a Celo price prediction now that the migration will become fact.
Expected improvements
The following improvements are expected in the wake of the migration:
Enhanced compatibility
A great deal of effort is required on the backend to make sure that libraries and tooling maintain compatibility through upgrades of core Web3 libraries. After Celo migrates to an L2, monitoring compatibility will become less of an effort, which will aid Celo developers in leveraging the full range of Ethereum tooling and libraries.
Improved collaboration
Historically, Celo’s technical roadmap has been very similar to Ethereum’s. Celo was an early adopter of gas fee reductions, account abstraction, and other Ethereum Improvement Proposals.
The Celo ecosystem can not only learn from proposals as they are released, but also collaborate with the Ethereum community on current ideas for improvement. It can make its own proposals too. Examples include exploring decentralized sequences and the standard for off-chain data availability.
More secure
110 validators secure Celo, and they are backed by around 300 million locked CELO tokens. Moving to an L2 blockchain will offer the advantage of a decentralized source for data availability and anchor the current state on the Ethereum Mainnet. This will improve security considerably.
Another benefit involves a trustless bridge to Ethereum. This will make it easier to share liquidity between Celo and Ethereum.
Pluses for developers
Celo stake will secure one-block finality, and Ethereum's economic security will provide a stronger finality guarantee. Developers will also be able to access a native bridge to Ethereum, enhancing the composability of Ethereum with Celo dApps.
It will become possible to post Celo transactions directly into Ethereum by means of a censorship resistance mechanism, which will force their inclusion.
Contributors
