Celo blockchain proposes a return to the Ethereum ecosystem, move to L2

According to cLabs, the Celo transition would include using OP Stack as the architecture to become an Ethereum L2 blockchain.

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CLabs, the organization responsible for developing the Celo blockchain, is seeking to return to the Ethereum ecosystem by transitioning from an independent EVM-enabled Layer 1 blockchain to an Ethereum Layer 2 solution.

According to a discussion proposal on Celo's governance forum, the transition would include the use of OP Stack as an architecture to become an Ethereum L2 blockchain, eliminating the need to monitor the composability of tools and libraries by the through upgrades, "making it easier for Celo developers to use the full Ethereum tools/libraries."

Other key differentiators would include an off-chain data availability layer operated by Ethereum node operators and protected by revamped Ether (ETH), as well as the transformation of current validators into decentralized sequencers for L2.

Layer 1 and Layer 2 blockchains differ primarily in purpose, but also in design and architecture. While L1 networks are designed to be autonomous, L2 solutions aim to improve the performance of L1 blockchains rather than operating independently.

upgrade offered by cLabs. Source: Celo governance forum.

Benefits of the transition allegedly include increased security while keeping gas costs low. "We do not expect any significant change in gas charges. As the proposal is for an L2 solution with off-chain data availability, gas costs may be significantly lower than other L2s," reads the proposal, which should be discussed in a governance call. on July 21 before being released for a "temperature check" the following day.

By adopting the proposal, end users would be unaffected by the migration, and CELO token holders would retain control of core contracts by voting on governance proposals. In addition, CELO tokens will also be used to pay...