Hello Celo: Expanding Cross-Chain Integration to Mobile-First

We are delighted to announce that DIA has integrated its oracle infrastructure with Celo, the mobile-first layer1 blockchain for dApps and crypto payments.

Mikel Garcia

Core-Team

October 21, 2021

2 minutes read

Hello Celo: Expanding Cross-Chain Integration to Mobile-First

Introducing Celo

Celo’s aim is to empower anyone with a smartphone anywhere in the world to have access to financial services, send money to phone numbers, and pay merchant users on a decentralized platform that is operated by a community of users. To achieve this, Celo provides a complete stack of a new L1 blockchain network, core smart contracts that run on that blockchain and enable end-user applications.

The layer 1 Celo Blockchain maintains full EVM (Ethereum Virtual Machine) compatibility for smart contracts. However, it uses a Byzantine Fault Tolerant (BFT) consensus mechanism rather than Proof of Work, and has different block format, transaction format and gas payment and pricing mechanisms.
A set of smart contracts running on the Celo Blockchain form many of the platform features including ERC-20 stable currencies, KYC, proof-of-stake and governance capabilities. These smart contracts are upgradeable and managed by Celo’s decentralized governance.
Applications for end users built on the Celo platform make up the third layer. The Celo Wallet app, the first of an ecosystem of applications, allows end-users to manage accounts and make payments securely. Other dApps include the DEX Ubeswap or the lending platform Moola.

DIA oracles available for builders on Celo

We are delighted to announce the new integration with Celo within our continuous efforts to provide the DIA oracle suite to the ever-growing number of new L1 and L2 networks. DIA’s broad set of on-chain and off-chain data feeds are available to developers building dApps on Celo’s mobile-first blockchain network.

The integration will enable new end-user applications on Celo to ingest DIA’s data feeds including an extensive library of crypto, DeFi as well as traditional assets, open-sourced with transparent methodologies.