At Extreme Investor Network, we bring you the latest updates and insights in the world of cryptocurrency and blockchain technology. Today, we are excited to share with you the recent announcement from the Celo Foundation regarding the launch of Dango, a new Layer-2 testnet developed by core contributor cLabs.
The transition to Dango, originally proposed during EthCC 2023, involves forking the Alfajores testnet. This move allows ecosystem developers to migrate their projects to the new Layer-2 blockchain, designed for fast and low-cost payments globally. The migration ensures that all historical data, including smart contracts, accounts, and balances from Alfajores, are preserved and carried over seamlessly.
Technical Specifications of Dango:
– Built upon Optimism’s OP Stack, a modular and open-source framework for scalable and interoperable blockchains.
– Supports the Optimism Superchain and incorporates EigenDA as an alternative data availability layer to maintain sub-cent transaction fees.
– Aims to improve core aspects of Celo’s Layer-1 (L1) blockchain, including the bridging of WETH and ERC-20 tokens, decreasing block time, maintaining 1-block finality, CELO token duality, fee abstraction, SocialConnect, low gas fees, higher security bridging to Ethereum, and continued commitment to Ultragreen Money.
The successful launch of Dango enables infrastructure providers to upgrade to the latest Layer-2 node code, paving the way for the upcoming launch of the Celo Layer-2 mainnet by early winter 2024. Community support has been instrumental in shaping the development of the testnet, aligning it with the ecosystem’s needs.
About Celo:
Celo is an emerging Ethereum Layer-2 and mobile-first blockchain network focused on real-world applications and fast, low-cost payments. The ecosystem includes a decentralized proof-of-stake blockchain, the CELO native token, and stable assets like cUSD, cEUR, and cREAL. Launched on Earth Day in 2020, Celo supports a diverse range of projects aimed at achieving global prosperity.
Stay tuned to Extreme Investor Network for more updates on the latest developments in the crypto and blockchain space. Join us on our journey to explore the future of digital finance and innovation.