What is Celestia? Celestia is the first Modular Blockchain platform of the Crypto market with the ambition to solve all Blockchain problems. So what are the differences and interesting features of Celestia and the Modular Blockchain model? Let’s find out together in the article below.
To better understand Celestia and the Modular Blockchain model, people can refer to some of the articles below:
- What is Modular Blockchain? All About Modular Blockchain
- Modular & Monolithic Blockchain: Innovation or Cumbersome Technology
Celestia Overview
What is Celestia?
Celestia is the foundation Modular Blockchain
Firstly in the Crypto market with the separation of Execution and Consensus, Data Availability, thereby aiming to solve the problem of scaling on the underlying Blockchain which is one of the most pressing problems today. In addition, Celestia also aims for an Internet of Blockchain model that has many similarities with Cosmos.
At the present time, Monolithic Blockchains such as Near Protocol, Solana,… must simultaneously undertake many functions such as calculating and processing transactions, implementing consensus mechanisms and storing data.. This leads to a problem in the future when Blockchain grows with increasing transaction volume, causing network congestion.
This problem is not new and Ethereum itself has been developing Layer 2 to help relieve Layer 1 from the task of calculating and processing transactions. The model of Ethereum 2.0 and Ethereum – Layer 2 is also the Modular Blockchain model. It can be seen that in the future, Ethereum will also move towards a comprehensive Modular Blockchain model.
With a similar vision to Ethereum, Celestia will also have a multi-layer model such as Consensus Layer, Data Availability Layer and Execution Layer. However, the Execution Layer at Celestia is not only Rollup Chain that processes offchain transactions but can also be different independent Blockchains and connected to Celestia via cross-chain bridges.
What are Celestia’s highlights?
Some of Celestia’s outstanding features include:
- Separate the consensus layer and the enforcement layer: Celestia provides a consensus layer with a built-in open mechanism that implementation layer developers can plug in and run with ease. Along with that, separating the two layers, helps developers of the implementation layer to customize Blockchain to specialize in output functions, for example, for NFT, Games prioritize speed and Defi favors security. .
- Evidence available data: Celestia encodes block data using 2-way reed-solomon, so it can check the entire data through a small randomly selected sample of data instead of having to check the entire data. If the data is encrypted incorrectly, the network will be notified via fraud proof of its availability. This helps Celestia store more data and reduce authentication time.
- Off-chain transaction processing (Rollup): With the above data storage structure, Celestia shows its potential to become the perfect environment to develop Rollups (off-chain transaction execution) when Optimistic Rollup needs data to prove the invalidity of the transaction. error, while ZK Rollup needs complete data to re-synthesize the state of the chain.
- Protecting light clients in cross-chain interactions: Celestia’s implementation of cross-chain interoperability will not assume that light clients present real public information, but interoperability will only be opened upon accurate verification of a secure transaction.
Celestia Ecosystem
Celestia’s ecosystem is relatively diverse with many different pieces such as:
- Rollup As a Service: Eclipse, Caldera, Snapchain, Vistara.
- Rollup Framework: Rollkit, Cartesi, Sovereign SDK, OP Stack, Stackr,…
- Shared Sequencer: Astria, Radius, FairBlock,…
- Gaming: Curio, Bulleverse, Argus,…
- Virtual Machines: CosmWasm, Polaris,…
- Settlement Layer: Berachain, Dymension, Neutron, Layer N,…
- Cross-chain: Polymer, Axelar, Orb, Hyperlane, Skip,…
- Wallet: Kelp, Leap, Cosmostaion,…
- Infastructure: Manta Network, Numia, Modular Cloud, Dora, Blockless, Cosmology,…
Celestia’s ecosystem is still in the early stages of development most of the projects in the Celestia ecosystem are mainly projects that use Celestia as a service layer in the Crypto market.
Development Roadmap
According to information from the project development team, Celestia’s Roadmap is specifically deployed according to the following milestones:
- June 15, 2021: Rebrand from LazyLedger to Celestia + Release Celestia MVL
- December 14, 2021: Devnet deployment
- February 8, 2022: Introducing Quantum Gravity Bridge, a bridge connecting Ethereum to Celestia
- Q4/2022: Mainnet
With current progress, we will likely have to wait until early 2023 to see Celestia Mainnet. After that, it will take about 7-9 months to build the pieces in the ecosystem, then at least until early 2024, Celestia will be truly ready for users.
Core Team
Mustafa Al-Bassam: Co-Founder & CEO
- Mustafa obtained a bachelor’s degree in Computer Science at King’s College London then a PhD in Philosophy, Computer Science at UCL. An interesting thing here is that Mustafa’s thesis is titled “Secure Extension of Blockchain Base Layers”.
- Mustafa worked as a Software Engineer intern at Swiftket which was later acquired by Microsoft.
- Mustafa is also the Co-Founder of Chainspace which was acquired by Facebook in 2019.
- Say, Mustafa worked as an Advisor for Secure Trading for more than 3 years and the Nym Network project for more than 2 years.
- Starting in September 2019, Mustafa started building Celestia Labs with his companions as CEO.
Ismail Khoffi: Co-Founder & CTO
- Ismail holds a Master’s degree in Mathematics and Computer Science with Distinction from the University of Bonn. Besides his studies, Ismail also spent more than 2 years working as a Teaching Assistant at Boon University in Linear Algebra and Calculus.
- Ismail briefly worked as a Software Intern at Google.
- Ismail also worked as a Security Engineer at Digital Catapult and Software Engineer at Tendermint, Interchain Foundation, Informal Systems.
- Along with that, Ismail also holds research positions at many companies such as Technische Universität Berlin, The University of Bonn,…
- By October 2019, Ismail and Mustafa built Celestia Labs as CTO.
The companies Ismal usually stays with for a relatively short period of time. Ismail changed jobs quite a lot since graduating.
Nick White: COO
- Nick earned his Bachelor of Science, Electrical Engineering from Stanford University and his Master of Science, Electrical Engineering from Stanford itself.
- Right after graduating, Nick became an AI expert at the company Zeroth.ai – Accelerate the adoption of AI technology in startups in Asia.
- Since June 2018, Nick has participated in building and developing the famous Harmony platform Blockchain project as Co Founder.
- In April 2021, after a period of rest, Nick joined the development of Celestia Labs as COO.
John Adler | CRO: John is the creator of Optimistic Rollup. Before joining Celestia, he was a Researcher at ConsenSys.
- John earned a Master of Applied Science (MASc.), Electrical and Computer Engineering from the University of Toronto and a Doctor of Philosophy, Electrical and Computer Engineering also from the University of Toronto.
- John joined Consensys with two roles: Blockchain Researcher for 6 months and Research Engineer for nearly 1 year.
- John plays an important role in Fuel Labs as Co Founder along with being CTO, Director of Research and Research Advisor.
- In January 2020, John officially joined Celestia Lá as Co FOunder and CRO.
- Besides building and developing Celestia, John is also working as an Advisor for the Essential project – an Intent-centric project.
Advisory team Celestia has a total of 7 members including some famous names in special ecosystems from Cosmos including Ethan Bunchman (Co Founder) and Zaki Mania (IBC Core member)), James Prestwich (Celo) or Matthew Di Ferrante (Ethereum),…
Investor
- March 3, 2021: At the Seed round, Celestia successfully raised $1.5M led by Interchain Foundation and Binance Labs, with the participation of Yield Ventures, Tokenomy, Maven 11 Capital, KR1,.. .
- October 19, 2022: In the Series A round, Celestia successfully raised $55M with the leadership of Polychain Capital and Bain Capital Crypto, and the participation of The Spartan Group, ProtoFund, PlaceHolder, Protocol Labs and NFX. At the Series A round the project was valued at $945M
Tokenomics
Information about Celestia tokens
- Project name: Celestia
- Token code: TIA
- Blockchain: Celestia
- Smartcontract: Update…
- Total supply: 1,000,000
Token Allocation
- Intial Core Contributors: 17.6%
- Seed Round: 15.9%
- Series A & B: 19.7%
- R&D Ecosystem: 26.8%
- Genesis Drop & Incentivized Testnet: 7.4%
- Future Initiatives: 12.6%
Token Release
1,000,000 TIA will be paid in installments within 4 years from the time of TGE.
- R&D Ecosystem will be opened 25% at the time of TGE, the remaining 75% will be paid in installments over the remaining 3 years.
- Intial Core Contributors and VCs will be locked for 1 year then unlock 33% in the next year and pay 67% in the remaining 2 years.
- Public Allocation will be 100% open at the time of TGE.
Exchanges
Updating…
Celestia’s Information Channel
- Website: https://celestia.org/
- Twitter: twitter.com/CelestiaOrg
- Discord: discord.com/invite/YsnTPcSfWQ
- Telegram: https://t.me/CelestiaCommunity
- Youtube: Celestia Youtube Channel
Summary
Hope this article has partly helped you understand What is Celestia? Celestia’s technology development is not simple. Hopefully, a capable core team along with support from advisors and large investment funds will help this blockchain launch its products soon.