|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Celestia Raises $100M to Scale Its Modular Data Availability Layer Protocol
Sep 24, 2024 at 04:02 am
The Celestia Foundation has secured $100 million in a funding round led by Bain Capital Crypto, with contributions from investors like Syncracy Capital
Modular blockchain network Celestia has secured an additional $100 million in funding, bringing the total capital raised by the startup to $155 million.
The latest funding round was led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder and other strategic investors.
The funds will be used to further develop Celestia's modular blockchain architecture, which separates the consensus and data availability layers from the execution layer. This allows developers to create layer-2 rollups with more flexibility compared to traditional monolithic chains like Ethereum.
Modular architecture is seen as a key solution to the scalability challenges faced by blockchain networks, as it enables the creation of more specialized blockchains that can be scaled independently.
Celestia is one of the first startups to launch a modular data availability layer protocol, and the startup claims that its architecture can boost the scalability of layer-2 rollups by several orders of magnitude.
Launched in 2023, Celestia's network is currently used by several layer-2 rollups, including Scroll, Celestium and Protein. The startup also unveiled its roadmap earlier in September, promising to scale its block size to 1 gigabyte to boost data throughput for its rollup ecosystem.
According to Celestia, this upgrade will increase the network capacity of Celestia to exceed Visa's, allowing it to process many more transactions per second.
The startup is not alone in this space, with other companies working on data availability solutions including Eigenlayer's EigenDA and Polygon's Avail.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- HBAR Foundation Calls for Renaissance, Marking October 3, 2024 on the Calendar
- Sep 24, 2024 at 06:35 am
- A 28-second clip, titled ‘Renaissance,’ suggested the community mark their calendars for October 3, 2024. Originally posted by Axelar Network
-
- Shiba Inu (SHIB) Whale Scores a New $1.07M Profit Via SHIB Rival Meme Coin Neiro (NEIRO)
- Sep 24, 2024 at 06:25 am
- An early investor of Shiba Inu (SHIB), has scored a significant profit via a SHIB rival meme coin. This unrealized profit in just five days by capitalizing on
-
- BlockDAG Emerges as a Contender in the Cryptocurrency Sphere, Challenging Stellar (XLM) and Solana (SOL)
- Sep 24, 2024 at 06:25 am
- In the cryptocurrency sphere, there's always fresh news to discover. Today, we delve into recent developments among digital currencies that are capturing attention.
-
- BNY Mellon Secures SEC Approval for Bitcoin Custody and Institutional Crypto Services, Paving the Way for Widespread Adoption of Tokenization
- Sep 24, 2024 at 06:25 am
- In a groundbreaking development, BNY Mellon, the world's largest custodial bank, has secured approval from the U.S. Securities and Exchange Commission (SEC) to offer Bitcoin custody and institutional crypto services.
-
- BlockDAG, SUI, and Helium Make Waves in the Altcoin Market, Signaling Strong Movements
- Sep 24, 2024 at 06:25 am
- This week, the altcoin universe buzzed with significant news from BlockDAG, SUI, and Helium. SUI forecasts anticipate another surge after a robust 20% increase
-
- Solana (SOL) Inspires Confidence with a 12.9% Jump, While JetBolt (JBOLT) Shines as a Potential New Coin to Explode
- Sep 24, 2024 at 06:15 am
- With a sudden 12.9% jump, Solana (SOL) is inspiring a great deal of confidence among crypto investors. Not to be outdone, JetBolt (JBOLT), a new project that's still in its early phase continues to shine, even giving early cues that it may be the next coin to explode.
-
- South Korean Lawmakers Reveal Their Crypto Wallets Now Contain Only 'Crypto Debris' After Selling Most of Their Assets
- Sep 24, 2024 at 06:15 am
- This phenomenon adds to the complexity of the political situation in South Korea, where public trust in the integrity of state officials is being tested.
-
- SUI Blockchain (SUI), Solana (SOL), and DTX Exchange (DTX) Prepare for Massive Gains as Bulls Take Hold Following Fed Rate Cut Announcement
- Sep 24, 2024 at 06:15 am
- The Federal Reserve is lowering interest rates in the current bull run. This action is causing an impact on various financial markets. This step is leading to increased liquidity in the market, potentially boosting the value of cryptocurrencies as investors seek higher returns.
-
- Bitget Announces Multi-Million Dollar Partnership with Spanish Iconic Football League La Liga
- Sep 24, 2024 at 06:15 am
- The announcement was made at Singapore's 2049 Token event, making Bitget the official partner of the La Liga crypto.