Celestia’s Mainnet Launches with Native Token Available for Trading
The mainnet launch of Celestia is scheduled for tomorrow, along with the introduction of its native token, which will soon be available for trading on centralized exchanges. Platforms like KuCoin and Bybit have already announced their plans to initiate trading for Celestia (TIA) tokens against the USDT stablecoin at 10 a.m. EST.
A contributor from Celestia confirmed the launch timeline, and the project’s GitHub repository also indicates an expected launch date of October 31. Additionally, 60 million tokens have been allocated for an airdrop to active users on Ethereum Layer 2s, Cosmos Hub and Osmosis stakers, and developers in the crypto space. The snapshot for the airdrop was taken on January 1, 2023, accounting for 6% of the total token supply.
Introducing Celestia: A Modular Network
Celestia differentiates itself from monolithic Layer 1 blockchains like Ethereum and Solana by aiming to be a modular network. Its design facilitates the creation of new blockchains on its platform by providing developers with greater ease.
The architecture of Celestia enables nodes to reach consensus on transactions in parallel across chains, executing them off-chain. The verification of these blockchains occurs through a system of fraud and data availability proofs.
In October 2022, Celestia Labs successfully raised $55 million in a funding round led by Bain Capital and Polychain. The company’s valuation exceeded $1 billion.
Hot Take: Breaking Barriers with Modular Blockchain Solutions
Celestia’s mainnet launch marks an important milestone in the development of modular blockchain solutions. By offering a platform that enables the creation of new blockchains with greater ease, Celestia opens up opportunities for developers to innovate and customize their decentralized applications. The parallel consensus mechanism and off-chain execution further enhance scalability and efficiency. With its successful fundraising round, Celestia has demonstrated investor confidence in its vision and potential impact on the blockchain industry. As the project continues to evolve, it will be interesting to see how Celestia empowers developers and contributes to the growth of the broader crypto space.
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