Blockchain platform for smartphones, Celo, has released a new update that, under the name ‘Donut Hardfork ‘, will allow, among other improvements, to use Celo’s cryptocurrencies with the popular MetaMask browser extension .
The novelties will also facilitate the future connection to the Solana, Cosmos and NEAR networks as a first step towards interoperability.
Support for MetaMask , one of the most popular DeFi (decentralized finance) wallets, will extend Celo’s reach to the more than five million users of this extension, which allows users to easily access decentralized applications ( dApps ) . in English) from your browser. MetaMask works exclusively with Ethereum transaction types, which is why the ‘Donut Hardfork ‘ update, which provides access to these transaction types on Celo , is so important to Celo.
“The ‘Donut Hardfork ‘ network update is a big step, first of all for Celo, because it means access to all types of Ethereum transactions, but also for all developers, who will be able to take advantage of a new set of tools that have been waiting for a long time on Ethereum”, said Rene Reinsberg , co-founder of Celo.
hard upgrade Fork (literally ‘hard fork’) supposes the introduction of changes in the protocol of the blockchain platform . This change involves the incorporation of multiple access possibilities for developers, since it allows them to use common tools, and improves Celo’s position as a relevant player in the blockchain ecosystem .
Celo’s mission, as an organization, is to foster financial inclusion through the use of blockchain technology , making decentralized financial ( DeFi ) systems and tools so that anyone with a smartphone, in any country in the world, can do use of technology to improve their situation. To achieve this goal, Celo has an Alliance for Prosperity in which more than 130 members participate, including technology providers, NGOs, crypto wallets , payment processors, and investment firms.
In addition to an organization, Celo is also an open source ecosystem where developers and organizations can design mobile applications and systems.
The utility and governance asset for the Celo community, which has a fixed supply and a variable value, is called CELO (in capital letters), while stable cryptocurrencies are used for everyday activities: Celo Dollar ( cUSD ) and Celo Euro ( cEUR ). Thus, citizens from all over the world -especially the vulnerable unbanked population- can operate easily and cheaply by sending money from one country to another, with the certainty that both stable cryptocurrencies are backed by multiple crypto assets in the Celo Reserve, including BTC and ETH.