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Celo
Celo is an Ethereum Layer 2 blockchain built on the Optimism OP Stack. It focuses on real-world applications, offering fast finality and usability while being secured by Ethereum. The transition aims to leverage Ethereum's security and developer ecosystem to scale for global use.
Distributed
Description
Celo has transitioned from an independent EVM-compatible Layer 1 into a fully integrated Ethereum Layer 2, rebuilt on the Optimism OP Stack and secured by Ethereum. It utilizes EigenDA for scalable and cost-efficient data availability. This upgrade preserves Celo's distinct features like fast finality (1-second block times) and a strong focus on real-world applications, while aligning with Ethereum's technical standards and roadmap. The transition was executed without a regenesis, preserving the full chain history. By becoming an L2, Celo gains deeper composability with Ethereum-native apps, unlocks access to the full suite of Ethereum tools, and makes the CELO asset native on Ethereum, expanding its presence and liquidity. The project is focused on supporting developers to build on the new L2 architecture and is progressing towards Stage 1 decentralization as a mature L2.Grant Funding
VC Funding
None
2018
2019
2020
2021
$0
$67M