Celestia is a network that provides modular data availability (DA), allowing anyone to launch their blockchain in a secure and scalable manner while accommodating multiple users. Celestia is used by rollups and L2s as a network for publishing and making transaction data available for anyone to download.
They can easily verify high-throughput DA with a light node. The blockchain stack is modular, enabling anyone to launch their blockchain without needing a validator set. Data availability is crucial for blockchain security as it ensures that anyone can inspect the ledger of transactions and verify it.
For monolithic blockchains, users download all data to check its availability. As blocks grow, it becomes hard for users to download all the data, rendering verification impossible.
Modular chains resolve this issue by allowing users to verify large blocks using data availability sampling (DAS). DAS is a new primitive that enables Celestia light nodes to verify DA efficiently. Instead of downloading all data, light nodes only download a small portion of each block. Importantly, DAS allows Celestia to scale with the number of users (light nodes), ensuring secure data throughput for millions of rollups.
Rollups are a new type of blockchain that offloads some of their work to a layer 1 like Celestia. Rollups publish their transaction data to Celestia, which gets ordered and made available for rollup users to download. Rollups on Celestia are known as sovereign rollups, as they combine the convenience of layer 2s with the sovereignty enjoyed by layer 1s.
For years, crypto has been stuck in a loop of monolithic blockchains, where each new L1 creates a walled-off system. In contrast, modular blockchains are collaborative and interconnected, with each new user bringing value to the whole modular ecosystem.
This collaborative approach stands in contrast to the maximalism of monolithic L1s, which compete for users within their ecosystems.
Technical Analysis and Prediction of TIA Price
Since the beginning of November, the TIA coin has been showing impressive performance, having witnessed a surge of 43% in the last seven days alone. It currently has broken a major resistance level of $13.95
It’s worth noting that the TIA coin has been consistently increasing in value since its inception. with its current price at $19.37 at the time of writing. The 50-Day EMA is at $11.87
For bullish investors, the resistance level to surpass is $20.00. On the other hand, the support levels for the bulls are $9.47 and $6.98. The coin will likely break the current resistance level and continue to its all-time high.
Conclusion
Celestia offers modular data availability for secure and scalable blockchain launches. TIA coin shows a 43% surge in the last seven days, breaking the $13.95 resistance level.
Technical Levels
- Support Levels: $9.47 and $6.98
- Resistance Levels: $20.0
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/01/14/celestia-network-tia-coin-on-all-time-high-whats-next/