Eigen Foundation Supports Celo Layer 2 with EigenDA

Bittime - The Eigen Foundation has awarded its first strategic grant to the Celo Foundation to support the use of EigenDA on Celo Layer 2. EigenDA is a secure, decentralized, and cost-effective off-chain data availability solution.

Migrate to Layer 2 with EigenDA

In July 2023, cLabs proposed migrating Celo from EVM-compatible Layer 1 to Layer 2 using EigenDA.

This migration aims to address the high fees associated with Ethereum's native storage, and allows Celo to maintain low transaction fees.

Benefits of Migration

Here are the benefits of migrating Layer 2 to EigenDA.

• Reduce costs: EigenDA offers a cost-effective solution for off-chain data storage, helping Celo maintain its low transaction costs.
• Improve scalability: EigenDA allows Celo to process more transactions with fewer fees, increasing its scalability.
• Increasing decentralization: EigenDA is a decentralized solution, which is in line with Celo's core values.

Strategic Grants

The grant from the Eigen Foundation will assist the Celo Foundation in integrating EigenDA into Layer 2 and supporting ecosystem projects that leverage this solution.

Positive impact

The partnership between the Eigen Foundation and the Celo Foundation is expected to have a significant positive impact on both ecosystems.

EigenDA's integration into Celo Layer 2 can help improve Celo's scalability, decentralization, and cost efficiency, as well as drive broader adoption.

The Future of Celo Layer 2 with EigenDA

With the support of the Eigen Foundation and the use of EigenDA, Celo Layer 2 has great potential for the future. Let's take a look at some of the things we can look forward to:

• Faster and cheaper transactions: EigenDA promises lower transaction fees and faster confirmation times compared to Celo's current Layer 1. This could attract more users and developers to the Celo ecosystem.
• Improved scalability: With EigenDA, Celo Layer 2 can process more transactions per second, allowing it to scale and accommodate more activity on the network.
• Growing innovation: Lower transaction costs and better scalability can drive the development of innovative new applications and services on Celo Layer 2.

If you're interested in the future of Celo Layer 2, here are some things you can do:

• Learn more about Celo and EigenDA: There are many resources available online to learn more about Celo, EigenDA, and their integration.
• Follow Celo's progress: Stay up-to-date with the latest news and announcements from the Celo Foundation to find out the progress of Layer 2 development.
• Use apps and services on Celo: By supporting projects built on Celo, you can contribute to the growth of the ecosystem.

Conclusion

The Eigen Foundation's strategic grant award to the Celo Foundation is an important step in supporting Celo's migration to Layer 2 and leveraging EigenDA for off-chain data availability solutions.

This partnership is expected to bring significant benefits to both ecosystems and contribute to the growth of the blockchain industry as a whole.

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