Celestia ($TIA)
Celestia is arguably the first modular blockchain network. I am going to use some heavy words in the beginning so I sound smart, but later I will explain everything like we explain to a 5-year-old.
Celestia makes it easy for projects to deploy their blockchain with minimal overhead.
First, let me tell you an interesting fact about the CEO of Celestia, Mustafa Al-Bassam. He is also the cofounder of ChainSpace, which was later acquired by Facebook. The intersecting fact is that Mustafa is a professional hacker. Ooo...now we are talking about some dope stuff. When he was 16 years old, he cofounded a hacker group called LulzSec, and the manifesto of this group was "We screw each other over for a jolt of satisfaction.", very cold huh. This group executed numerous high-profile breaches, including those of Sony, Fox.com, the FBI, and even the CIA website.
Now, let's learn what a modular blockchain is. Basically, there are two types of blockchains:
Monolithic and Modular. Bitcoin, Ethereum, and Solana are monolithic blockchains. Blockchain has mainly four components:
Execution - Executing transactions.
2. Settlement - Deals with dispute resolution, validity of blocks, and acts as a bridging layer.
Consensus - Puts transactions in order.
Data Availability - Publishes the data on the blockchain.
The difference between monolithic and modular blockchains is that a monolithic blockchain handles all these four components by itself, which reduces efficiency, while a modular blockchain can choose to specialize and optimize on a few components, making it more efficient. For example, Ethereum Rollups are modular blockchains that focus only on execution while offloading the other three components to the Ethereum mainnet. In the case of Celestia, it focuses on consensus and data availability, making it more efficient than traditional blockchains.
This allows the network to manage larger amounts of data without increasing the cost to secure the network.
Key details:
Token symbol: $TIA
Contract: secret1s9h6mrp4k9g||4zfv5h78||68hdq8ml7jrnn20
Market cap: 1.27 billion dollars
24-hour trading volume: 157 million dollars
CoinMarketCap: https://coinmarketcap.com/currencies/celestia/.
Technical Analysis (TA)
TIA/USDT
The price is now approaching the support of the lower time frame. I expect a possible bearish movement towards the support level of $5.9. However, the price bounced quickly from the liquidity area of $4-$5. If we get another chance, this could be a good area to enter a position.
