Celestia

What is Celestia (TIA)?

Celestia describes itself as a modular blockchain, or “data availability network.” It allows anyone to produce their own private blockchains without going through the hassles of initiating additional consensus networks. Blockchains within Celestia can simultaneously operate securely and independently.

The Genesis of Celestia: Origin Story

While Celestia launched fairly recently this year (2023) in November, its origins can be traced as far back as 2019 when Mustafa Al-Bassam, a Ph.D. student of computer science, published a paper that went by the title “LazyLedger.” The paper, in rather complex terms, described what, at that point, was a radical reevaluation of blockchain functionality, splitting its various functions into unique “application layers.” Fast forward to 2023, and Al-Bassam is now the CEO of Celestia Labs and one of its primary developers.

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Understanding the Technology Behind Celestia

Here, we will dive a bit into the technology underlying the Celestia blockchain network, going over some of the things that make it function the way it does.

Modular Blockchain Explained

Modularity here implies that instead of one blockchain attempting to accomplish everything necessary, Celestia places more of an emphasis on specific functions, geared towards optimizing performance, and seeks to lay the road for more mainstream adoption of blockchain.

How Celestia Differs from Traditional Blockchains

Rather than that conventional maximalist approach, which entails competing within isolated ecosystems, Celestia encourages a collaborative atmosphere through interconnected chains. Every additional user that integrates within this modular infrastructure can add more value to the underlying network, fostering cooperation instead of cutthroat competition.

Proof of Stake in Celestia’s Universe

Celestia operates on a proof-of-stake consensus and is based on the Cosmos SDK and CometBFT. Consequently, Celestia facilitates in-protocol delegation with a starting validator set containing 100.

The Role of Validators in Celestia

Validators on Celestia participate within consensus through voting on the blocks being proposed, and when they’re elected leaders, they may produce and propose new blocks to that validator set we mentioned earlier.

Celestia’s Contribution to Decentralization and Security

Outlined below is Celestia’s take on decentralization and security.

The Role of Nodes in Celestia

There are a plethora of ways in which one can participate in the various networks within Celestia. Hence, those operating a node on Celestia can fulfill several distinct roles within the network. These include operating as a validator node, a full consensus node, a bridge node, a light node, and a full storage node, potentially ensuring more decentralization with such a diversity of roles.

Celestia’s Approach to Data Availability

Due to the permissionless attribute of blockchains, DA (data availability) layers should offer mechanisms for settlement and execution layers to assess, within trust-minimized ways, whether transactional data is accessible or not.

With Celestia’s DA layer, two key features are offered, including NMTs (namespaced merkle trees) and DAS (data availability sampling).

Through DAS, light nodes may verify data availability, all while not having to download entire blocks, whereas NMTs allow for settlement and execution layers within Celestia to only download transactional data that is relevant to them.

Celestia’s Role in the Broader Crypto Ecosystem

Within this section, we will be looking at how Celestia fits into the wider ecosystem of cryptocurrencies and blockchain.

Bridging Networks with Celestia

Due to its modular architecture, Celestia has bridging mechanisms in place to ensure the interconnectedness of its networks, which is evident through its use of nodes specifically catering to that end, i.e., bridge nodes, allowing for more interoperability within the cryptocurrency landscape.

Partnerships and Integrations

Despite how recent its launch has been, it has managed to accrue some important partnerships or integrations, furthering its own reach within the landscape. These include Chainlink, Arbitrum Orbit, and more.

Governance and Community Involvement in Celestia

Within this section, we’ll be looking at the role that governance can play within the Celestia blockchain network, along with a brief look at the overall community.

The Governance Model of Celestia

Here, the governance model is utilized to alter entire subsets of network parameters, along with other important changes to the overarching ecosystem, leaving lasting impacts.

Participating in Governance as a TIA Holder

So as a TIA holder, one may propose or vote on various governance proposals that hold significance for the future of the entire network. In other words, you may make sure your voice is heard here.

Joining the Celestia Community

While the most obvious way of joining the community here would be by directly engaging with its services or by buying its native token, some of the other less direct ways would be to follow its social media accounts and get acquainted with what’s going on within it.

Community-led Initiatives and Projects

Building on Celestia has been designed to be straightforward and swift, with developers being able to deploy blockchains within minutes.

It even supports a variety of virtual machines (VMs), granting developers access to distinct use cases or applicability, effectively facilitating initiatives led and governed by the community.

The Investment Potential of Celestia (TIA)

Below, we will be diving deep into some of the potential Celestia has as an investment.

Market Analysis and Price History

Despite how new the token is, it has managed to gain more than twice its value when compared to its starting price of around $2, trading at approximately $5 now, which implies that there is a certain level of hype surrounding this token.

Risks and Rewards of Investing in TIA

However, it warrants mentioning that this hype that we stated earlier will likely result in periods of high volatility, so be on the lookout for that, as things may immediately go the wrong way in the blink of an eye.

TIA Tokens: The Fuel of Celestia

Let’s now direct our focus to its native token itself, delving into the various roles it may play within the Celestia ecosystem.

The Purpose and Utility of TIA Tokens

The token is used as a medium of exchange throughout the network, integral to achieving consensus and voting within governance, among other uses.

Total Supply and Distribution

The total supply of the token sits at exactly 1 billion tokens, whereas the circulating supply is currently over 141 million tokens. And speaking of distribution, the initial token distribution is 20% of it going to public allocation, 26.8% to the R&D ecosystem, 17.6% to initial core contributors, and 15.9% and 19.7% each to certain early backers.

Incentive Mechanisms and Staking Rewards

As alluded to earlier, these tokens can be used to stake, which may serve various functions here, particularly within consensus, so holders can expect to be rewarded for such contributions.

Acquiring Celestia (TIA) Cryptocurrency

Let’s now discuss how and where you can buy this token, assuming what has been mentioned so far has piqued your interest.

How and Where to Buy TIA Tokens

The TIA token may be bought on various popular exchanges like OKX, Binance, and more. As for the how, that will include multiple steps, beginning with registration, going through KYC, depositing some funds, and eventually placing your order and withdrawing the TIA tokens you bought.

Interested in setting up an account one such popular exchange? Click here to access the necessary links, using special Coin-Labs referral codes.

Tips for Safely Purchasing TIA

To start with, only use exchanges or platforms you know you can trust your funds with, and these will likely include the more popular ones like Binance, for instance. Secondly, do not use risky means of purchasing your tokens, such as utilizing more leverage, if all you’re looking for is a simple swap, rather than engaging in more complex or speculative investment practices.

Storing Celestia (TIA) Safely

Here, we will go over why it is so important to store your TIA tokens safely within a secure wallet, especially now.

The Importance of Secure Storage

What the year 2022 has taught us, especially with the whole FTX debacle, is that we shouldn’t entirely rely on exchanges to store or manage our funds safely. Rather, we should store them in our own wallets, and currently, cold wallets definitely seem to be the safest option for that.

Setting Up Your Celestia Wallet

While Celestia doesn’t seem to provide a dedicated wallet of its own, at least from what we have gathered, there are plenty of others, like MetaMask or OKX, that you can use to safely store your funds. And setting these wallets up initially shouldn’t take you that long, although you may create your own wallet here as a developer, which might take a bit longer.

Celestia’s Roadmap and Future Developments

What could the future possibly hold here for Celestia? Let’s briefly delve into such a prospect below.

Upcoming Features and Updates

While there doesn’t seem to be an official roadmap of sorts here, there is still no doubt as to the exciting features that may potentially be implemented here, such as a type of partial node that light nodes would like and the further deployment of Blobstream to Ethereum, among various others.

The Vision: Celestia’s Place in the Future of Blockchain

One of the core tenets underlying the vision of Celestia is increased simplification when it comes to blockchain deployment, to the extent that anyone may easily deploy or launch their own blockchains. This, it believes, will play a major role in addressing the scalability concerns within the landscape, as it essentially means that anyone can bootstrap new rollups.

Conclusion

Celestia can be a representative of a shift in how one views blockchain technology. Through the embrace of data availability, modularity, and interoperability, Celestia seeks to address what might probably be some of the leading concerns within the blockchain sector. However, whether or not it will ultimately be successful is something only time will tell, as it has only just launched.

We Coin-Labs.com provides only objective information about Celestia.
Therefore, we are not responsible for the investment decision in Celestia and the resulting loss.

Celestia Basics

Here are some factors that investors should consider before investing in Celestia.

Cryptocurrency Features	Celestia (TIA)
Publisher or Developers	Mustafa Al-Bassam
Headquarters (Registration Number)	Vaduz, Liechtenstein
Symbol	TIA
Platform	Mainnet
Published Date (CMC Registration)	2024-11-01
Max Supply	No limit

Reliability Score of Celestia in 2024

These are indexes mesuring the investment reliability of Celestia conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 9 Exchanges
Number of Available Pairs Worldwide	230 Pairs
Market Cap of the Cryptocurrency	2,870,598,062 USD (Rank #31)

The table above shows the result of investment suitability evaluation for Celestia.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Celestia Price

Here are the price and recent trading volume of Celestia. (Data of 2024-11-02 00:35:00)

Price Items	Price and Trading Volume of Celestia
Celestia Price	4.735 USD
Price Change 24h	-0.78%
Price Change 7d	-17.31%
Trading Volume 24h	205,425,414 USD
Trading Volume Change 24h	-23.40%

Cryptocurrency Metadata

You can check the development status and social media information of Celestia through the links in the table below.

Metadata Source	URL
🌎 Official Website	https://www.celestia.org
📖 White Paper	https://arxiv.org/abs/1905.09274
🛰️ Source Code (GitHub)	https://github.com/celestiaorg
🐦 Twitter	https://twitter.com/CelestiaOrg
🤖 Reddit
🎺 Message Board

Where to Buy Celestia

Here are the top ten world crypto exchanges where traders can buy Celestia in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/TIA_BTC
Coinbase	Listed	https://pro.coinbase.com/trade/TIA-USD
Kraken	Listed	https://pro.kraken.com/app/trade/tia-usd
KuCoin	Listed	https://www.kucoin.com/trade/TIA-USDT
Bitfinex	Listed	https://trading.bitfinex.com/t/TIA:USD?type=exchange
OKX	Listed	https://www.okx.com/trade-spot/tia-usdt
Huobi	Listed	https://www.htx.com/en-us/trade/tia_usdt?type=spot
Bitstamp	Not listed
Bybit	Listed	https://www.bybit.com/trade/usdt/TIAUSDT
Gate.io	Listed	https://www.gate.io/trade/TIA_USDT

Frequently Asked Questions