Learn about the recent viral TIA project?
Learn about the recent viral TIA project? What is Celestia (TIA)? Celestia is a modular blockchain that provides developers with the infrastructure to build and maintain blockchains. Celestia allows other blockchains to use it as a consensus and data availability layer. Other platforms can execute their transactions securely on Celestia, separating the execution layer from data availability and consensus. Thanks to that, other platforms can develop on Celestia through the consensus mechanism but still retain their own features.
How Celestia works Data availability is the main issue that Celestia provides, simply put, any network participant is allowed to download any transaction data to verify a block. This is a security measure that allows anyone to inspect the blockchain ledger. However, downloading all the transaction data of a growing blockchain becomes a difficult task for regular nodes. Celestia stands to solve this problem through a technology called DAS, which stands for Data Availability Sampling.
From there, nodes will no longer need to download the entire blockchain data, but will only need to get a part of the data for verification. These light nodes will be taken multiple times at random. When these checks are completed, the reliability of the available data will increase. DAS technology will help blockchains like Ethereum scale while still maintaining security Learn about TIA tokens TIA is the native token of the Celestia project, an important part of this project. Below are the uses that this token brings: Launch rollups Developers will use TIA to launch their blockchain without issuing their own tokens.
Rewards for Staking As a permissionless network based on CometBFT and Cosmos SDK, Celestia uses a proof of stake mechanism to secure its network. Just like in other Cosmos networks, users can secure the network by delegating TIA tokens to validators to receive their share of staking rewards. Decentralization Users holding TIA tokens can participate in voting and submit their proposals. This is a benefit for token holders of this project.
Celestia's opponents NEAR, Avail and EigenDA can be considered the main competitors of this project. Let's take a look at what Celestia's competitors did at the end of 2023 Near DA The Near Foundation introduced Near DA at its annual conference in November 2023. Rollup solutions Starknet and Caldera were among the early users of Near DA. With the goal of supporting Ethereum L2 and high-quality projects launching application chains Avail Avail is a DA layer with its predecessor being Polygon Avail. Polygon Labs split from Avail in March 2023. Avail's approach differs from Celestia because the former uses a consensus mechanism called “BABE and GRANDPA”, inherited from Polkadot's protocol.
The testnet schedule took place in November last year. Eigen DA EigenDA is a DA layer built on Ethereum by EigenLabs. EigenDA is specifically designed for the Ethereum ecosystem to enable Ethereum stakers and validators to support critical functions by enabling validation tasks for DA layers. summary Modular Blockchain is being talked about a lot recently and the technology of this project is considered quite good. Celestia emerges as a scalable solution, designed for ease of use.
This is expected to be a quite hot project in this uptrend, however its price is growing too high recently. The advice is that you should not be FOMO at this time to control all risks if the price drops. If you like this project and have researched it carefully, you can refer to the price ranges in the video below to allocate capital for long-term purchases. (This article does not encourage you to invest all your capital in TIA, all of the above knowledge is for reference and DYOR to be sure of all your decisions)
