Celo's L2 Proposal: Building The Perfect L2 for Mobile Payments - TOKEN2049 Singapore 2023
Explore Celo’s groundbreaking L2 proposal in this enlightening talk from TOKEN2049 Singapore 2023, where Merrick, co-founder of Celo, unveils a transformative vision for mobile payments. Shifting from a scalable layer one (L1) to an efficient layer two (L2), Celo’s advance marks a pivotal movement in creating seamless web3 application experiences, even for non-crypto natives.
Merrick discusses the imperative to improve web3 application user engagement, explaining how Celo’s infrastructure supports the development of user-friendly, mobile-first payment applications. A highlight of the session is the introduction of Opera Mini Pay, a newly launched self-custodial wallet integrated into the Opera Mini browser. With over 100 million users globally, this partnership exemplifies Celo’s commitment to facilitating stablecoin-based transactions across mobile platforms, emphasizing accessibility and ease of use.
Integral to this transformation are Celo’s key strategies: maintaining low transaction fees and increasing decentralization. By collaborating with Eigenlayer, Celo aims to significantly reduce transaction costs while retaining its robust network of validators to ensure decentralization remains intact. An additional and unique advancement is Celo’s focus on achieving one-block finality, enhancing the reliability and security of transactions akin to centralized applications but without compromising on decentralization.
This session is essential for anyone interested in the evolving landscape of blockchain technology and mobile payments. For a deeper understanding of this vision and to stay upd ated with cutting-edge developments from Celo, we invite you to watch the full talk. Don’t forget to like, comment, and subscribe for more insightful discussions from TOKEN2049 Singapore!
