Celo Chooses Optimism, Concluding Bake-Off Among Layer 2s [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
Ethereum – and the selection process had turned into a surprisingly competitive bake-off between leading providers On Monday, the team officially proposed using Optimism's OP Stack for the transition. The proposal will be discussed on a couple of community calls and then go to a vote among holders of the project's CELO tokens, under the chain's governance rules CLabs, Celo's developer, has spent the past couple months evaluating technical proposals from various layer-2 teams on why they may be the best fit for their new blockchain. The big idea is that the Celo team sees a more prosperous future as a part of the broader Ethereum blockchain ecosystem, as a layer-2 chain, than in its current form as a standalone, or layer-1, chain. When Celo originally announced it would migrate to a layer 2, cLabs had originally suggested choosing the OP Stack. That's where the team ended back at, eight months after its initial announcement, following extensive consideration of all of the competi
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