Ethereum

Celestia

Celestia Foundation&nbsp;<a style="text-decoration:none" href="https://blog.celestia.org/celestia-foundation-raise/">announced</a> raising $100 million in a funding round led by Bain Capital Crypto. The investment will support Celestia's mission to address blockchain scalability issues through its modular architecture.&nbsp;
Other notable investors in this round include Syncracy Capital, 1kx, Robot Ventures, and Placeholder. With this latest injection of capital, Celestia has now raised a total of $155 million to further develop its ecosystem.
&nbsp;
With the latest $100 million raised, Celestia now has $155 million in total capital. While the foundation hasn’t specified exact plans for the new funds, the roadmap shows a focus on scaling and data availability.&nbsp;
&nbsp;
Celestia’s goal is to build a blockchain infrastructure that can support real-world applications, with an emphasis on improving throughput and reducing costs for users.
<h2 dir="ltr" id="span-span-tackling-blockchain-scalability-with-modular-design-span-span">Tackling Blockchain Scalability with Modular Design</h2>
Traditional blockchains like Ethereum handle consensus, data availability, and execution all on a single layer. This monolithic structure can create bottlenecks, limiting scalability and increasing costs. By decoupling these layers,&nbsp;<a style="text-decoration:none" href="http://celestia">Celestia</a> provides developers with a more efficient and scalable solution, according to the Celestia team.
&nbsp;
Celestia’s key innovation is its modular blockchain architecture, which separates the consensus and data availability layers from the execution layer. This architecture allows for the creation of specialized blockchains tailored to specific needs, reducing network congestion and lowering operational costs. Developers can create more efficient applications, and users benefit from faster and cheaper transactions.
&nbsp;
Since the launch of Celestia’s Mainnet Beta in October 2023, over 20 rollup chains have been deployed using Celestia's data blobs.&nbsp;
One of Celestia's most ambitious goals is outlined in its technical roadmap—scaling to 1 gigabyte blocks. This would mark a massive increase in data throughput, allowing Celestia to surpass the capabilities of even traditional financial systems like Visa, which processes around 24,000 transactions per second (TPS).

Celestia Foundation Raises $100M to Expand Modular Blockchain Ecosystem

Table of Contents

BSCN

Other articles published on Oct 7, 2024

Atua AI Secures $23M Funding to Advance AI Solutions for Web3 Businesses

Trump Widens Lead Over Harris In Presidential Betting Odds After Elon Musk Endorsement

POPCAT, WIF’s 20% surge ignites meme tokens rally amid market buzz

Amaka secures $2M funding for African creators

South Korea Fines Worldcoin for Data Privacy Breach

21Shares Requests European Regulators to Clarify Crypto Regulations

Join our free newsletter for daily crypto updates!