Coinbase Refutes Accusations of Not Boosting Ethereum Scalability After Declining To Support Celo Migration
Digital asset change Coinbase is pushing again towards accusations that it isn’t supporting Ethereum’s (ETH) scaling roadmap.
The highest US crypto change got here underneath fireplace on-line after it announced final week that it wouldn’t help Celo’s (CELO) upcoming migration from a standalone layer-1 chain to an Ethereum layer-2.
A number of Celo executives blasted the choice, together with Celo Basis president Rene Reinsberg and Marek Olszewski, the chief govt of Celo developer cLabs, who said Coinbase’s announcement felt “like a wrench in Ethereum’s layer-2-centric scaling roadmap.”
Coinbase, nonetheless, says it plans to “reevaluate” Celo L2 after the technical migration is complete.
“Any accusation that Coinbase doesn’t help the scalability of Ethereum will not be true. Coinbase is targeted on being a bridge to the cryptoeconomy and we’re in help of L1s and L2s.”
The change says its prospects should withdraw any CELO from their accounts by January thirteenth. The venture is scheduled emigrate to a layer-2 answer on January sixteenth.
Celo says the migration may have quite a few technical advantages.
“Native bridging between Celo and Ethereum, which was beforehand not doable, will now be a actuality. This development considerably enhances the safety of token transfers by lowering reliance on exterior bridges, which have usually been some extent of vulnerability. With native bridging, Celo can supply a safer and streamlined expertise for customers, making certain that transactions inside our ecosystem are each secure and dependable.”
Celo launched a layer-2 testnet in July.
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