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Celo, the blockchain network launched in 2020, has officially transitioned from a layer-1 chain to an Ethereum layer-2 protocol.
Celo announced the successful transition in a March 26 X post, stating that “Celo is officially an Ethereum layer 2” protocol. In the thread, the organization claimed the new protocol features one-second blocks, sub-cent transaction costs, and Tether’s USDt (USDT) and USDC (USDC) as gas.
Celo first proposed this transition in the summer of 2023, and it is now completed after block production on the old layer-1…
