Hassan Maishera
On Wednesday, the Celo Foundation announced via X that Celo is now a layer-2 network on the Ethereum blockchain. This latest development comes following a successful "hard hard fork" led by core contributors at cLabs and L1 validators.
Built on Optimism's OP Stack with Eigen, Celo L2 features 1-second blocks, sub-cent transactions, fee abstraction (e.g. USDT & USDC as gas), native bridging, Ethereum security, Ultragreen Money, and token duality.
Celo is an open platform that supports various distributed applications, smart contract development, and payments using e-mail addresses and phone numbers as public keys. CELO is down 1% in the last 24 hours and currently trades at $0.3976.
