Exciting Development in Celo’s Blockchain Ecosystem 🌐
The Celo Foundation has announced a significant milestone with the successful launch of the Layer-2 testnet, Dango. Developed by core contributor cLabs, this advancement in the Celo blockchain ecosystem signifies a crucial step forward.
Transition to Layer-2 🔄
The transition to Dango, originally proposed during EthCC 2023, involves forking the Alfajores testnet. This transition allows developers in the ecosystem to start shifting their projects to the new Layer-2 blockchain, which is tailored for speedy and cost-effective global payments. The migration process ensures the preservation and transfer of all historical data, including smart contracts, account information, and balances from Alfajores.
Technical Specifications 🛠️
Dango is constructed on top of Optimism’s OP Stack, a flexible and open-source framework for scalable and interoperable blockchains. This architecture supports the Optimism Superchain and includes EigenDA as an alternative data availability layer to uphold sub-cent transaction fees. The testnet aims to enhance various core aspects of Celo’s Layer-1 (L1) blockchain, such as:
- Bridging of WETH and ERC-20 tokens between Ethereum and Celo
- Reducing block time from 5 seconds to 2 seconds, boosting total throughput by 50%
- Maintaining 1-block finality
- CELO token duality, enabling interaction natively or through the ERC20 interface
- Fee Abstraction, supporting multiple ERC-20 tokens as gas currencies, including USDT and USDC
- Facilitating money transfers to phone numbers, email addresses, or other social identifiers via SocialConnect
- Keeping gas fees low for improved accessibility and adoption
- Enhanced security bridging to Ethereum for asset transfers
- Continuing the commitment to Ultragreen Money in Celo
Future Outlook 🔮
The successful launch of Dango now allows infrastructure providers to upgrade to the latest Layer-2 node code. Once all essential infrastructure providers have made the necessary updates, the Alfajores testnet will undergo an upgrade without initiating a new fork. This upgrade will enable developers to test their end-user dApps. The cLabs team foresees that the migration will eventually lead to the launch of the Celo Layer-2 mainnet by early winter 2024.
Community and Support 🤝
The launch of Dango comes on the heels of the Eigen Foundation’s strategic grant to the Celo community and the subsequent support from the community for cLabs’ governance proposal. The community’s active participation has been instrumental in shaping the development of the testnet and ensuring alignment with the ecosystem’s requirements.
About Celo ℹ️
Celo is an up-and-coming Ethereum Layer-2 and mobile-first blockchain network that is purpose-built for real-world applications, with a focus on swift and cost-effective payments. The ecosystem comprises a decentralized proof-of-stake blockchain, the CELO native token, and several stable assets like cUSD, cEUR, and cREAL. Launched on Earth Day in 2020, Celo supports a diverse array of projects aimed at fostering global prosperity.
Hot Take: An Exciting Leap for Celo’s Ecosystem 🚀
This latest development with the successful launch of the Dango testnet showcases Celo’s commitment to innovation and progress in the blockchain space. With enhanced technical capabilities and future upgrades on the horizon, Celo is poised to continue making waves in the world of decentralized finance and global payments. Stay tuned for more updates on this dynamic ecosystem!
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