![]() ![]() What sets Celo apart is its lightweight identity protocol, enabling seamless transactions using phone numbers and making it accessible to a global user base. Through its native assets, CELO and Celo Dollars (cUSD), users can engage in the network consensus, pay for on-chain transactions, and participate in governance decisions. Celo Linea: Bridging the Gap with AccessibilityĬelo, a layer-2 blockchain protocol, is on a mission to simplify crypto adoption by introducing phone numbers as public keys and launching a native stable-value token. Top Five Recent Ethereum Layer 2 (L2) Networks 1. Here, we will look deep into five of Ethereum’s Layer 2 solutions to understand their capabilities and how they are poised to redefine the future of blockchain. Layer 2 protocols operate on top of Layer 1 blockchains, enhancing the network's capacity to handle a massive influx of transactions. In their quest for security and decentralization, scalability took a back seat, leading to sluggish transaction speeds during peak network traffic. Layer 1 blockchains faced a blockchain trilemma – a challenging trade-off between security, scalability, and decentralization. These solutions have set their sights on Ethereum, a cornerstone of the crypto world, and other Layer 1 (L1) blockchains, aiming to address fundamental challenges like scalability, transaction speed, and cost. Layer 2 (L2) solutions have emerged as potent game-changers, orchestrating a transformation redefining the entire blockchain landscape.
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