Celestia raises $100M to scale its modular blockchain, aiming to surpass Visa's transaction speed with 1GB block sizes.
Celestia's innovative modular design boosts scalability, cutting costs and enhancing flexibility for developers and users.
Developers eagerly adopt Celestiaâs data blobs, now making up over 50% of roll-up data, driving network growth.
The Celestia Foundation has announced a $100 million funding round led by Bain Capital Crypto, with notable contributions from Syncracy Capital, 1kx, Robot Ventures, and Placeholder. This new financing brings Celestia's total funding to $155 million, supporting the continued expansion of its modular blockchain ecosystem. Since the launch of its Mainnet Beta in October 2023, developers have already deployed 20 rollup chains using Celestia's innovative data blobs, a key component of the platformâs architecture.
https://twitter.com/WuBlockchain/status/1838385695104340406 Modular Blockchain: A New Approach to Flexibility
Celestia's modular approach offers significant advantages over traditional blockchains. Unlike monolithic Layer 1 networks like Ethereum, Celestia separates consensus and data availability from execution.
This separation allows developers to bypass the limitations of a single execution layer, enabling them to deploy scalable applications using any virtual machine. Consequently, developers benefit from greater flexibility, lower operational costs, and improved efficiency.
Moreover, Celestia is set to push blockchain scalability further. Its technical roadmap aims to increase block sizes to 1 gigabyte, dramatically boosting data throughput. Besides, this upgrade will give Celestia the capacity to handle higher transaction volumes, surpassing traditional systems like Visa, which processes 24,000 transactions per second. Hence, Celestia's modular blockchain structure offers a promising solution to the bottlenecks faced by monolithic blockchains.
Scaling Rollups and Revolutionizing Blockchain Efficiency
Additionally, Celestiaâs data blobs, which have become highly sought after, now represent more than half of all data published by rollups. Developers are eager to use Celestiaâs infrastructure to build both sovereign networks and scale existing ecosystems like Ethereum. Significantly, the roadmap emphasizes maintaining low latency and data verifiability while scaling to support diverse use cases.
Celestia's aim to transition from the "broadband era" to the "fiber optic era" of blockchain technology is poised to revolutionize blockchain scalability. With its advanced architecture and ambitious plans for scaling, Celestia is positioning itself to support multiple high-throughput networks operating in parallel, offering developers and users alike faster, more efficient blockchain solutions.
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