Celestia crypto, highly anticipated for several months, is among the most promising projects for the year 2023.
The project is generating a lot of attention and enthusiasm, given what it promises to bring to Web3.
Celestia is born
Celestia is a modular data and consensus network, built on the Cosmos SDK and Tendermint architecture.
Designed to allow anyone to easily implement their own zero-knowledge optimistic roll-up blockchain with minimal overhead.
Its role is simply to become the foundation of level 1 and even level 2 for the entire blockchain ecosystem.
In this way, it allows blockchains to focus on execution and their specialization knowing that Celestia Crypto takes care of the infrastructure part.
Starting from the observation that most blockchains start from scratch in terms of infrastructure instead of focusing on their own specialization.
Therefore, the development of a chain remains very laborious by acting in this way.
Celestia improves blockchain scalability by separating the three essential functions of a blockchain:
- Consent is how everyone in the network agrees on the transactions that have taken place, thus sorting the transactions into a history.
- The function of execution, which consists of determining which of these transactions are valid and updating them on the chain
- The availability of transaction data for validator nodes.
To do this, Celestia separates the blocks into more specialized components.
Each function is separated in a sub-level, to obtain consent on one side and execution on the other:
By comparison, in monolithic chains, the set of validators executes each transaction.
The main functions of a blockchain, execution and consensus, occur simultaneously and are applied by the same set of validators.
In modular blockchains, a node verifies only a fragment of the procedure.
This requires very little power, opening up the possibility for phones to become nodes.
The components of the Celestia Crypto blockchain
Celestia calls itself “Web3 cloud computing”.
In effect, it allows users to launch Dapps on channels that share the same level of consent.
Thanks to the Cosmos network, Celestia benefits from the interoperability of this chain.
In fact, since it is built on the Cosmos network, it benefits from the advantages of its infrastructure: being safe, flexible and less expensive than the rest of the roll-ups.
The chain consists of three types of network nodes:
Storage nodes that hold data from consensus nodes and forward a copy to lightweight nodes
The light nodes who are also the users of the network carry out various missions.
They can secure the network and then process and send transactions to the consensus nodes.
They also retrieve data from storage nodes in exchange for payment.
In addition, the consensus nodes receive the transactions, condense all these transactions in the form of a block.
Finally, once archiving is complete, the compartmentalized data is transferred to the storage node.
To ensure that a block is fully valid, nodes download and process all transactions in a single block.
Processing operations require high node capacity, which means that the network can only be resized as new nodes join it
The long-awaited roadmap
After closing its $ 55 million fundraising round, from highly reputable investment funds such as Jump Crypto and Balaji.
Celestia Crypto will launch its “incentive” program in early 2023:
Currently in Testnet, called “Mamaki Testnet”, users will be able to lend themselves to the game to possibly become eligible for a potential airdrop.
This device will prompt users to run a consent node.
As for their token, there are a few things going around about it.
The Celestia token can be used for staking and delegating, earning rewards.
Furthermore, it will be used to pay for the publication of data and its availability on the blockchain.
The future is surely in the modular blockchains of which Celestia is a part.
With their optimized technology that accentuates the decentralization and scalability of each chain, projects will become more efficient and competitive.
Blockchain technologies offer a multitude of opportunities and, despite the bear market, they continue to evolve to build the economy of tomorrow. To be part of it, don’t hesitate any longer and start training and strategizing right away thanks to Crypto Rider.