Modular Blockchain Celestia Goes Live With Traders Receiving TIA Tokens
Celestia airdropped 60M TIA tokens to active users on Ethereum Layer 2s, stakers on Cosmos Hub and Osmosis, and crypto developers.
By: Camila Russo •DeFi News
Celestia, a new blockchain, successfully deployed its mainnet beta on Tuesday, the Celestia Foundation said in a press release. Active crypto users received TIA tokens on their wallets.
Celestia claims to be the first scalable modular data availability network, which simplifies the process for users to launch their own blockchain.
Celestia's mainnet launch introduces data availability sampling (DAS), an untested technology which may lead to instability in the initial phases, Celestia said on X.
The DAS mechanism allows light nodes to verify the availability of data without the necessity of downloading all data for a block.
“What was once considered a wild moonshot is now a reality four years after the LazyLedger whitepaper was published,” said Ekram Ahmed, spokesperson at the Celestia Foundation. “Celestia is the first modular blockchain network that securely scales with the number of users, making it easy for anyone to launch their own blockchain."
Celestia's native token TIA started trading at $2.16 in the minutes after the launch, according to Coingecko.
Celestia airdropped 60M TIA tokens to active users on Ethereum Layer 2s, stakers on Cosmos Hub and Osmosis, and crypto developers. A maximum of 1B tokens will be minted.
Binance, Kucoin and Bybit are some of the exchanges listing the token.
New Modular Stack
The blockchain industry has seen the emergence of multiple new execution layers and rollup frameworks since 2022, which have contributed to the modular stack, Celestia Foundation said in a press release.
"The industry has now entered a new, modular era with new values, defined by verifiability, abundant blockspace and collaborative blockchains," Ahmed said. "Celestia mainnet is a giant leap in our mission to make deploying chains as easy as smart contracts.”