Celestia is a modular blockchain network designed to enhance scalability and security by distributing functions across multiple chains. Its primary role is as a specialized Layer 1 (L1) blockchain focusing on data availability, while execution tasks are handled by Layer 2 (L2) chains.
Celestia
Infrastructure
Description
Here's how it works:
- Scalability: Celestia specializes in data availability, allowing L2 chains to execute smart contracts and applications. This separation boosts the network's scalability by processing transactions across different apps concurrently.
- Shared Security: It provides shared security, ensuring smaller chains can also enjoy robust protection without needing to establish their own set of validators.
- Bridging Capabilities: Celestia facilitates the building of secure bridges between blockchains by ensuring data availability. This aids in the accurate verification of transactions and enhances bridge security.
- Sovereignty: Offers developers and communities the freedom to define their own rules and protocols, promoting flexibility and independence in managing their tech stacks and transaction processes.
In summary, Celestia aims to create a scalable, secure, and efficient blockchain ecosystem. By focusing on data availability and allowing for specialization, it supports secure bridges, shared security, and empowers communities with the autonomy to customize their blockchain infrastructure.
Team of the Project
Funding
$56,500,000
$56,500,000
Total Funds Raised
$55,000,000
$55,000,000
Series A
Led by Bain Capital, Polychain and others were Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, Jump Crypto, and select angels including Balaji Srinivasan, Eric Wall and Jutta Steiner.
$1,500,000
$1,500,000
Seed Round
Led by Interchain Foundation, Binance Labs and others were Maven 11, KR1, Signature Ventures, Divergence Ventures, Dokia Capital, P2P Capital, Tokonomy, Cryptium Labs, Michael Ng, Simon Johnson, Michael Youssefmir and Ramsey Khoury.