Ethereum

Celo

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/coinbase-addresses-ethereum-scalability-concerns" data-wpel-link="internal">Coinbase Addresses Ethereum Scalability Concerns</a><br></p>
<p style="text-align: justify">Coinbase, the prominent American cryptocurrency exchange, has dismissed claims regarding its lack of support for Ethereum’s scalability efforts. These statements followed Coinbase’s recent announcement concerning Celo’s transition to a layer-2 solution.</p> 
<h2 id="what-did-coinbase-say-about-celo">What Did Coinbase Say About Celo?</h2> 
<p style="text-align: justify">Coinbase revealed last week that it would not endorse Celo’s shift from an independent layer-1 network to an Ethereum layer-2 solution. This decision prompted significant backlash across various online forums.</p> 
<h2 id="how-did-celo-respond-to-coinbase-s-decision">How Did Celo Respond to Coinbase’s Decision?</h2> 
<p style="text-align: justify">Celo’s Board Chairman, Rene Reinsberg, along with cLabs CEO Marek Olszewski, expressed their discontent, suggesting that Coinbase’s decision undermines Ethereum’s layer-2 scalability roadmap.</p> 
<p style="text-align: justify">In a subsequent response, Coinbase highlighted its intent to reevaluate the situation post-transition. The exchange sought to clarify its position, asserting, “The allegations that Coinbase does not support Ethereum’s scalability are incorrect. Coinbase is focused on being a bridge to the crypto economy and supports both L1s and L2s.”</p> 
<ul> 
 <li>Users must complete CELO withdrawals by January 13.</li> 
 <li>Celo aims to finalize its transition to layer-2 by January 16.</li> 
 <li>The transition promises to enhance <a href="https://en.bitcoinhaber.net/cryptocurrency-plummets-after-trumps-denial" data-wpel-link="internal">token</a> transfer security through a native bridge with Ethereum.</li> 
</ul> 
<p style="text-align: justify">Celo introduced a layer-2 test network in July, designed to bolster security and efficiency within its ecosystem. The successful transition is anticipated to mark a pivotal moment for both Celo and Ethereum, fostering greater integration and transaction security between the two platforms.</p> 
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/coinbase-addresses-ethereum-scalability-concerns" data-wpel-link="internal">Coinbase Addresses Ethereum Scalability Concerns</a></h5>

Coinbase Addresses Ethereum Scalability Concerns

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