swayCelestia
Celestia is a modular data availability network that securely scales with the number of users, making it easy for anyone to launch their own blockchain.
Celestia enables the next generation of scalable blockchain architectures – modular blockchains. Celestia scales by decoupling execution from consensus and introducing a new primitive, data availability sampling.
Token Utility: – Developers can use TIA to pay for data availability on Celestia’s network. Rollup developers submit PayForBlobs transactions on the network and pay fees in TIA.
– TIA can be used as a gas token and currency for developers looking to quickly launch their own blockchain on Celestia. This approach allows developers to focus on creating their application or execution layer without the immediate need to issue a new token.
– Celestia employs a proof-of-stake consensus mechanism, securing its own network using the Cosmos SDK. Users can delegate their TIA tokens to a Celestia validator and earn a portion of the validator’s staking rewards.
– TIA staking also enables the community to participate in the decentralized governance of Celestia. This includes voting on network parameters through governance proposals and overseeing the community pool, which receives 2% of block rewards.
Website: https://celestia.org/
Twitter: https://twitter.com/CelestiaOrg
Telegram: https://t.me/CelestiaCommunity
Positive Notes:
– Modular Consensus and Data Network: Celestia offers a modular approach to consensus and data networks, allowing users to deploy their own blockchains with minimal overhead. This flexibility can be a significant advantage for developers looking to innovate in the Web3 space.
– Scalability: Celestia’s approach to scaling is unique. It doesn’t validate transactions and scales with the number of users, thanks to data availability sampling. This can lead to improved scalability without bottlenecks associated with traditional blockchains.
– Secure Interoperability: Celestia’s chains do not rely on honest majority assumptions for state validity, enhancing security and making it easier for different blockchains to interoperate with high security standards.
– Sovereignty: Celestia allows developers to define their own execution environments without imposing any execution logic, thus preserving the sovereignty of users and developers.
– Cost-Effective Deployment: The project simplifies the process of deploying a blockchain by providing consensus and security on-demand, reducing the overhead typically associated with starting a new consensus network.
– Strong Financial Backing: Celestia has raised $55 million in funding, including support from well-known investors such as Bain Capital Crypto, Polychain Capital, and others, indicating strong financial backing for the project.
– Collaboration with Prominent Projects: Celestia already has collaborations with projects like Eclipse, Constellation, and dYmension, which can lend credibility to its ecosystem.
– Successful Airdrop and listed on all major exchanges
Negative Notes: – 14% is currently the circulating supply and the Full Dilluted Market Cap is $2B
Celestia solves the scalability trilemma by separating the data layer from the execution layer. This means that Celestia can focus on providing a secure and decentralized data layer, while rollups can focus on executing transactions. This is a new technology and can attract many developers to develop on their chain, I think this is a very good investment
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