Celo as a Cultural Extension of Ethereum
AI summary of the linked articleCelo, a blockchain originally launched in 2020 as its own chain, is transitioning to a Layer 2 on Ethereum, and the post argues that Celo's focus on real-world financial inclusion, especially on mobile phones, complements Ethereum's culture. The author says Celo surpassed Tron in daily active users transacting with stablecoins, and cites Opera's Minipay wallet, which has onboarded 3M users in one year and offers transfers from Norway to Malawi at a cost 30% cheaper than MoneyGram. Mento Protocol is building local stablecoins, with six currencies live so far, and the post reports that Uniswap volumes have surged 20-fold since last year. |
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4 comments I remember our conversation about Celo at ETHWarsaw, and it's great to read a follow-up post that describes your story and approach in more detail. I have a question re: your transition to L2 - will users still be able to pay gas fees in stablecoins? If so, how will it work - would Celo just convert them to ETH under the hood to pay for the Ethereum blockspace? 0x17f4...6359Submitter Yes, this will work after the L2 migration too. We take care of the conversion in a smart contact. This transition feels like a big deal. I couldn't find a concrete date for that, so I assume it's in the works but without a clear hard date yet? Seems like they plan to do the transition in November 2024. Source: https://docs.celo.org/cel2 |
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