Celo Developer Proposes Mid-January Timeline for Evaluating Closely Watched Layer-2 Move
Celo's primary developer, cLabs, has proposed a framework for selecting a technology provider for its new layer-2 network on Ethereum. This comes amidst strong competition for the blockchain project, with teams from Polygon and Matter Labs vying to serve as the provider. The document, titled "Framework for selecting an L2 stack", aims to wrap up the selection process by mid-January. Celo's community approved the plan to transition to a layer-2 blockchain in July, and cLabs plans to consider feedback on the framework document during December. Celo currently ranks as the 27th-biggest blockchain in decentralized finance, with a total value of $102 million. The aim of the framework is to find the best fit for Celo's specific needs rather than selecting the 'best' layer-2 stack.
