What is Celestia (TIA)? Celestia Cryptocurrency Overview

What is Celestia?

Celestia is the first Modular architecture blockchain platform in the crypto market. Works by dividing work across multiple interconnected networks to optimize performance and scalability.

Celestia separates operations into specialized modules such as the consensus layer and the execution layer. Celestia builds on PoS Blockchain for transaction validation and data availability.

These blockchains allow building flexible applications. Celestia helps blockchains move away from monolithic architectures to develop freely in a variety of approaches.

Celestia

Celestia blockchains enable flexible application building. Celestia helps blockchains move away from monolithic architectures to develop freely in a variety of approaches.

Celestia highlights

In Monolithic Blockchain architecture, consensus and execution functions are on the same layer. This causes certain limitations, even for the strongest blockchains like Solana.

Celestia applies Modular Blockchain architecture, separating consensus and execution into separate layers.

• The consensus layer will be handled by the Celestia blockchain.

• The execution layer exists on its own blockchain, allowing optimization and specialization for specific use cases.

Celestia’s architecture brings better flexibility, security, and scalability to decentralized applications.

Celestia solves the “data not available” challenge with Rollup and Optimistic Rollup technology. Celestia also uses data availability proofs to expand storage and consensus capabilities.

In Celestia’s vision, blockchains like Tendermint and Cosmos could use Celestia as their data availability layer to become more trustless and secure.

Celestia Ecosystem

Celestia’s ecosystem is relatively diverse with many different pieces such as:

• Rollup As a Service: Eclipse, Caldera, Snapchain, Vistara.

• Rollup Framework: Rollkit, Cartesi, Sovereign SDK, OP Stack, Stackr,…

• Shared Sequencer: Astria, Radius, FairBlock,…

• Gaming: Curio, Bulleverse, Argus,…

• Virtual Machines: CosmWasm, Polaris,…

• Settlement Layer: Berachain, Dymension, Neutron, Layer N,…

• Cross-chain: Polymer, Axelar, Orb, Hyperlane, Skip,…

• Wallet: Kelp, Leap, Cosmostaion,…

• Infastructure: Manta Network, Numia, Modular Cloud, Dora, Blockless, Cosmology,…

Celestia’s ecosystem is still in the early stages of development most of the projects in the Celestia ecosystem are mainly projects that use Celestia as a service layer in the Crypto market.

Related: What Is Optimism (OP)? Overview of The Optimism Ecosystem

What is TIA token?

TIA Token

• Token name: Celestia

• Ticker: TIA

• Blockchain: Celestia

• Token Type: Utility & Governance.

• Token Supply: 1,000,000,000 TIA

TIA Token Use Cases

TIA tokens are used to:

• Pay for advanced platform mechanisms such as DAPs.

• Trading and providing liquidity

• Reward for becoming a validator

• Participate in administration and contribute to the project.

TIA Token Allocation

• Intial Core Contributors: 17.6%

• Seed Round: 15.9%

• Series A & B: 19.7%

• R&D Ecosystem: 26.8%

• Genesis Drop & Incentivized Testnet: 7.4%

• Future Initiatives: 12.6%

TIA Token Release

1,000,000 TIA will be paid in installments within 4 years from the time of TGE.

• R&D Ecosystem will be opened 25% at the time of TGE, the remaining 75% will be paid in installments over the remaining 3 years.

• Intial Core Contributors and VCs will be locked for 1 year then unlock 33% in the next year and pay 67% in the remaining 2 years.

• Public Allocation will be 100% open at TGE.

Buy/sell and storage

Users can purchase TIA through the following forms:

• Centralized exchange (CEX): Binance, Gate, Bitget

• Decentralized exchange (DEX): Uniswap, Sushiswap, …

Users can store TIA tokens at reputable wallets such as: Metamask Wallet, Trust Wallet.

Project development team

The Celestia project team has extensive experience in the field of building and expanding blockchain from projects such as Ethereum, Cosmos, Harmony. In there:

• CEO – Mustafa Al-Bassam: PhD in blockchain scaling at UCL.

• CTO – Ismail Khoffi: Computer science engineer with many years of experience.

• CRO – John Adler: Layer 2 scalability researcher.

• COO – Nick White: Has a BS & MS degree from Stanford.

Funding round, investors and partners

Funding round, Investor

• March 3, 2021: At the Seed round, Celestia successfully raised $1.5M led by Interchain Foundation and Binance Labs, with the participation of Yield Ventures, Tokenomy, Maven 11 Capital, KR1,. ..

• October 19, 2022: At Series A round, Celestia successfully raised $55M with the leadership of Polychain Capital and Bain Capital Crypto, and the participation of The Spartan Group, ProtoFund, PlaceHolder, Protocol Labs and NFX . At the Series A round the project was valued at $945M

Partners

Outstanding projects such as Eclipse, Scroll, Interchain Foundation…

Roadmap

Celestia updates the project’s development roadmap according to the following timelines:

• March 2021: Call for Seed round capital and release MVP (minimum viable product).

• February 2021: Devnet deployment.

• February 2022: Introducing the Quantum Gravity Bridge.

• 2022-2023: Launch testnet (completed in May 2022).

• 2023: Mainnet launch.

Similar projects

Similar projects like:

• Fuel Network: Fuel Network is a Modular Execution Layer for Ethereum. Fuel v1 started out as a scaling solution for Ethereum using the Optimistic Rollup (ORU) model for payment purposes.

• Mantle Network: Mantle Network is a Layer 2 blockchain built on Ethereum with Optimistic Rollup technology

Conclude

Through this overview article about the Celestia (TIA) project, AZC News hopes readers will grasp basic information about this project to make their own investment decisions. Wishing you a successful investment!