Celos Alfajores Layer-2 Testnet Set to Launch on September 26, Transitioning to Ethereum L2

Quick Summary:

These include innovations such as fee abstraction, which allows users to pay gas fees using ERC-20 tokens like USDC and USDT, and one-block finality, which ensures that transactions are confirmed almost instantly, improving the speed and efficiency of the network.

This dual-use functionality allows CELO to bridge the gap between Celo’s decentralized network and Ethereum’s vast ecosystem of tokens and dApps.

By allowing ERC-20 tokens to cover gas fees, Celo aims to make the network more user-friendly and accessible, particularly for users who may not be familiar with purchasing and holding native tokens like CELO.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: Latest News Celo’s Alfajores Layer-2

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-21 @ 12:28:35 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 891 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22631157

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Year Established: 2020

Headquarters: India

News Last Updated: 2 days ago

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