CeloOrg Partners Chainlink SCALE to Enhance dApp Development
CeloOrg, the organization behind the mobile-first layer-1 network Celo, has announced its partnership with Chainlink SCALE to speed up the spread of Celo. It provides developers in its ecosystem with reliable data feeds necessary to create the next generation of mobile-first decentralized applications (dApps).
.@CeloOrg has joined #Chainlink SCALE to accelerate #Celo adoption.
With the upcoming launch of Chainlink oracles on Celo, devs in the Celo ecosystem will gain access to the time-tested data feeds they need to build a new generation of mobile-first dApps.https://t.co/JNpHKHSgl0 pic.twitter.com/1lVLrMTJxc
— Chainlink (@chainlink) April 25, 2023
Chainlink SCALE Aims to Reduce Financial Burden for Blockchain Ecosystems
Chainlink SCALE is an initiative that aims to expedite the development of blockchain and layer-2 ecosystems in a sustainable manner. The primary goal of SCALE is to alleviate financial burdens, such as transaction gas fees, associated with using Chainlink’s oracle networks so that L1s and L2s have more access to these valuable services. Oracle network maintenance expenses can be gradually transitioned toward complete coverage by dApp user fees when blockchain/L2 ecosystems under the Chainlink SCALE initiative reach maturity.
As part of the partnership, CeloOrg will cover the costs of running Chainlink oracle nodes that provide the power for data feeds on the Celo Network through the smart use of resources. With time and further growth of the Celo ecosystem, dApp fees will be able to fully pay the expenses of running Chainlink nodes.
By joining SCALE, Celo can ensure that developers in its ecosystem have access to the most up-to-date and reliable oracle data and services. However, it reduces the gas costs incurred by Chainlink nodes when submitting oracle reports on the Celo network. The goal of Chainlink SCALE is to establish a mutually beneficial partnership between Celo and the Chainlink Network. It will also build other blockchain ecosystems to power a more coherent and long-lasting Web3 environment.
Celo Aims to Revolutionize International Money Transfers with Mobile-Friendly Platform
The Celo ecosystem, which launched on Earth Day 2020, is comprised of over a thousand projects in over 150 countries. It serves as the Home of ReFi of Web3, where prosperity is fostered for everyone. The mobile-friendly Celo platform intends to make international money transfers as simple as sending a text message to anybody. Celo’s wallet addresses are built on a revolutionary decentralized address-based identification layer that also converts phone numbers.
The partnership between CeloOrg and Chainlink SCALE demonstrates Chainlink’s formidable head start in launching long-term Web3 services and coordinating ecosystems to fuel them. The commitment to SCALE was proposed on the Celo governance forum. It was accepted by an on-chain vote with 99.9% in favour. Moreover, this partnership is expected to facilitate the growth of the Celo ecosystem and accelerate the development of innovative dApps.
