Bankless What is Celestia ($TIA)? Unpacking Modular Blockchains
Dec 7, 2023
In this engaging conversation, Mustafa Al-Bassam, Co-founder of Celestia and author of the Lazy Ledger white paper, along with Ismail Coffey, Co-founder and CTO, delve into the innovative modular blockchain, Celestia. They discuss its unique approach to data availability, how it significantly improves scalability, and its potential impact on the crypto landscape. The duo further explains the synergies with Ethereum, the economic dynamics of Celestia's native token, $TIA, and the exciting future of decentralized applications built on this groundbreaking architecture.
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Celestia's Focus
- Celestia focuses on data availability and consensus, enabling rollups to execute transactions off-chain.
- This modular approach allows for cheaper data fees and easier blockchain launching.
Modular Blockchain Design
- Modular blockchains separate execution from consensus and data availability.
- Applications post data to Celestia for ordering and consensus, while execution happens off-chain.
Celestia's Advantage
- Celestia offers cheap data ordering and availability, unlike Ethereum's expensive on-chain data posting.
- This allows for new applications and Ethereum Layer 2s to post data on Celestia, potentially unlocking new use cases.