Celo (CELO) Celo gives anyone in the world with a smartphone | Crypto Great | Bitcoin | DeFi

Celo (CELO)

Celo gives anyone in the world with a smartphone access to decentralized financial services. In early February, the Original Celo Treasury (Ocelot) was announced.

Ocelot is a multisig collective focused on research, development, emerging markets, and community growth of the Celo ecosystem. Multisig wallets are cryptocurrency wallets that require two or more private keys to sign and send a transaction. This makes it possible to sign documents as a group and adds an additional layer of security.

Ocelot has already received 3,000,000 CELO (approximately $10 million) from the Celo Ecosystem Treasury.

With this new funding and focus on development, holders can expect to see more products launched on CELO, which will lead to a resulting rise in users and price. On April 3, Celo proposed to move to a Layer-2 architecture. Celo also proposed a new way of executing that vision: an incentivized testnet for Celo. The incentivized testnet, known as Mezcal, will be launched in three phases.

The Mezcal network intends to spearhead migrating Celo to a layer-2 ecosystem without worrying about Layer-1 consensus.

The move to Layer-2 allows the team to focus on improving Celo’s EVM without worrying about validators or scalability at the consensus and data availability layer.

We’ll share more information on Mezcal in the coming months. This roadmap has the potential to both fulfill Celo’s DeFi for the people mission, and to drastically improve the underlying architecture needed to sustain it.