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Celo has made an announcement a few proposal to advance from an EVM-compatible Layer 1 blockchain in its present state to an Ethereum Layer 2 answer.
The Ethereum 2 Layer will allow the creation of latest alternatives for integration and collaboration with the Ethereum community. The proposal dialogue is ready to happen at a administration name scheduled for the 21st of July.
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Take part in Celo’s governance name 📞
A special-edition EthCC governance name shall be held IRL on Friday, July 21, at 8am PT/5pm CET. (Location & digital hyperlink pending).
— Celo 🦇 🌳 (@CeloOrg) July 16, 2023
After a number of months of analysis by the cLabs staff and discussions with key Celo and Ethereum ecosystem members, the proposal supplies an overview the place Celo has leverage on the OP Stack to handle the Ethereum Layer 2.
The improve is ready to deliver a number of main modifications reminiscent of a decentralized sequencer run by the present suite of validators by Celo and controlling the Byzantine Fault Tolerance consensus protocol.
Moreover, the off-chain information availability layer operated by Ethereum node operators and guarded by beforehand staked ETH will improve the safety measures.
The developer has stated that the design will allow Celo to keep up low charges whereas sustaining tier-1 block finality.
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