Celo, a rising Ethereum Layer 2 blockchain network, has introduced its Layer-2 Testnet named Dango.
The Dango testnet, initially proposed at EthCC 2023, enables developers to migrate their projects to this updated blockchain version, crafted explicitly for quick and economic global transactions.
Utilizing Optimism’s OP Stack, Dango retains Celo’s Layer 1 advantages while using a highly scalable and compatible blockchain framework.
Created by core contributor cLabs, the Celo Foundation revealed in an official statement on Sunday, July 7, that this marks a significant progression in cLabs’ mission to introduce the EVM-compatible standalone blockchain to Ethereum.
Features and functionality of the Dango Layer-2 Testnet
Per the announcement, the update’s shift to Dango will involve branching off from the Alfajores testnet. According to the network’s documentation, the Alfajores Testnet is a test network within the Celo platform specifically created for developers to conduct testing and experimentation.
Developers in the ecosystem now have the option to move their projects to the new Layer-2 blockchain. The new blockchain is created to enable rapid and economical global transactions.
During migration, all data, such as smart contracts, accounts, and balances from Alfajores, will be safeguarded and moved.
Moreover, the Layer-2 architecture was developed to maintain Celo’s L1’s existing benefits and to support real-world solutions in over 150 countries. It aims to facilitate low gas fees to increase accessibility and adoption of cryptocurrencies globally.
The Dango testnet introduces various functionalities and updates to the Celo ecosystem. The migration includes maintaining and improving core elements such as bridging WETH and ERC-20 tokens between Ethereum and Celo, reducing block time from 5 seconds to 2 seconds, increasing total throughput by 50%, and maintaining 1-block finality.
Furthermore, the upgrade introduces the option to use the CELO token in its native form or through the ERC20 interface. It also advances Fee Abstraction by allowing multiple ERC-20 tokens, including Celo-native USDT and USDC, to be used as gas currencies.
One of the most notable features of the Dango L2 Celo Testnet is the ability for users to send money to a phone number, email address, or other social identifier through SocialConnect.
CELO token price reaction
CELO token price reaction
Following the launch of the Dango Layer 2 testnet, the price of the CELO token experienced a slight increase of about 2.45% to reach $0.51 on Monday morning after dropping as low as $0.46.
Like the overall market sentiment, the CELO token‘s moving averages indicated a strong sell in the past day. This came after the coin declined 15.44% over the past seven days, 30.54% since last month, and 95.17% from its all-time high of $10.66, recorded on August 30, 2021.
