- Celestia raised $100M, led by Bain Capital Crypto, increasing its total funding to $155M.
- Celestia’s Mainnet Beta, launched in 2023, is the first modular consensus and data network, enabling faster, more flexible blockchain scaling.
- The Celestia roadmap aims to scale to 1-gigabyte blocks, significantly increasing data throughput within its rollup ecosystem.
The Celestia Foundation has raised $100 million in a recent funding round led by Bain Capital Crypto. Other participants in the round include Syncracy Capital, 1kx, Robot Ventures, and Placeholder. This brings the total amount of capital raised to $155 million.
Celestia Mainnet Beta and Modular Blockchain Innovation
Celestia’s Mainnet Beta launched in October 2023, making history as the first modular consensus and data network in the blockchain industry. Since its launch, the project has attracted developers who have already deployed 20 rollup chains.
The blockchain platform has also seen its data blobs account for more than half of the total data published by rollups. Analysts have predicted that its coin, $TIA, will reach $280 by 2035 making it a good investment choice.
Before it’s modular approach, most blockchains scaled by optimizing a single monolithic layer. This method limited efficiency, as applications had to operate on one shared execution layer.
Celestia’s innovation removes this constraint. It enables developers to deploy high-efficient applications without being tied to a specific virtual machine or smart contract language.
New Roadmap Aims to Boost Efficiency
It’s developer community recently revealed a new roadmap aimed at scaling block sizes to 1 gigabyte. This could significantly increase data throughput within Celestia’s rollup ecosystem.
Read CRYPTONEWSLAND on
google news
For context, Visa processes around 24,000 transactions per second. The new 1-gigabyte block capacity could handle the equivalent of several Visa networks operating in parallel.
According to Mustafa Al-Bassam, co-founder and Chairman of the Celestia Foundation, Celestia has moved from the dial-up era to the broadband era of blockspace. The project now aims to enter the fiber optic era, increasing scalability while maintaining verifiability and low latency.
Celestia’s Position in the Blockchain Ecosystem
Celestia, a modular blockchain provider, offers solutions to blockchain scaling issues making it among the best upcoming cryptos of the year. Its design allows for faster transactions and cheaper data storage. This gives it a viable alternative to existing Layer-1 blockchains such as Ethereum.
Celestia is well-positioned to explore the limits of blockchain scalability. The project’s modular design has the potential to change the blockchain landscape and enhance the ecosystem’s efficiency.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
