{"id":405474,"date":"2024-07-09T13:30:16","date_gmt":"2024-07-09T08:00:16","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=405474"},"modified":"2024-07-09T09:39:58","modified_gmt":"2024-07-09T04:09:58","slug":"will-celos-latest-move-help-it-dominate-the-layer-2-sector","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/will-celos-latest-move-help-it-dominate-the-layer-2-sector\/","title":{"rendered":"Will Celo\u2019s latest move help it dominate the Layer 2 sector?"},"content":{"rendered":"<ul>\n<li><em>Celo unveils Dango, its Layer 2 testnet, marking the initial phase of integration with the Ethereum ecosystem.<\/em><\/li>\n<li><em>Celo used Optimism&#8217;s OP stack to make this plan come to fruition.<\/em><\/li>\n<\/ul>\n<p>In a significant move towards becoming part of the <a href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a>\u00a0 ecosystem, Celo, the blockchain platform designed specifically for mobile phone users, has launched its Dango Layer 2 testnet. This marks a major step forward in Celo&#8217;s plan to integrate with Ethereum.<\/p>\n<h2>It takes two to Dango<\/h2>\n<p>The Dango testnet, proposed at EthCC 2023, facilitates developer migration to a new iteration of the Celo blockchain focused on fast, global transactions. This testnet preserves historical data from Alfajores, including smart contracts, accounts, and balances, ensuring a smooth transition.<\/p>\n<p>Built on Optimism&#8217;s OP Stack, Dango combines Celo&#8217;s Layer 1 security with the scalability and interoperability of the OP Stack framework.<\/p>\n<p>EigenDA, implemented with Eigen Foundation backing and community support, reduces transaction fees within Dango&#8217;s Layer-2 architecture.<\/p>\n<p>This architecture prioritizes affordability and efficiency, achieving a 50% increase in transaction speed (block processing time reduced from 5 seconds to 2 seconds).<\/p>\n<p>Dango Layer-2 offers features like seamless bridging of WETH and ERC-20 tokens for transfers between Ethereum and Celo, and one-block finality for swift and secure transactions.<\/p>\n<p>It supports CELO token interaction on both the native platform and the ERC-20 standard, providing flexibility for developers. Additionally, Dango allows for payments using various ERC-20 tokens, including $USDT and $USDC, expanding payment options.<\/p>\n<p>Dango&#8217;s SocialConnect feature enables sending and receiving funds using phone numbers or email addresses, simplifying transactions for users new to crypto.<\/p>\n<p>Low gas fees contribute to Dango&#8217;s affordability, potentially increasing global cryptocurrency adoption.<\/p>\n<h2>What&#8217;s next for Dango?<\/h2>\n<p>The launch of the Dango testnet has triggered infrastructure providers to initiate upgrades for their Layer-2 node code.<\/p>\n<p>Once all major providers have implemented these updates to be compatible with the new design, the Alfajores testnet will undergo an upgrade without requiring a separate blockchain fork.<\/p>\n<p>This streamlined process allows developers to test their user applications on the upgraded network without impacting the functionality of live user-facing applications.<\/p>\n<p>The successful completion of this critical milestone ahead of the summer 2024 target sets the stage for the anticipated launch of the Celo Layer-2 mainnet in early winter 2024.<\/p>\n<p>The Celo Foundation and cLabs remain committed to driving innovation and empowering the blockchain community, ensuring a seamless transition and robust growth for both developers and users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a move to join the Ethereum network, Celo launches the Dango Layer 2 testnet, paving the way for faster and cheaper transactions.<\/p>\n","protected":false},"author":73,"featured_media":405487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-405474","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Will Celo\u2019s latest move help it dominate the Layer 2 sector? 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