CoinWorld reports:
Source: Celestia Blog; Compiled by: Wuzhu,
The Celestia Foundation announced that it has raised $100 million, led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and others. This brings the total funding for the project to $155 million.
Celestia Mainnet Beta will be launched in October 2023, providing the industry’s first dedicated modular consensus and data network. Since its release, an early ecosystem has formed, with developers deploying the first 20 Rollup chains and Celestia data blocks recently reaching over half of the total data released by Rollup.
Before the emergence of Celestia, scaling permissionless blockchains typically meant optimizing a single L1, where applications run on a single shared execution layer. However, Celestia is not limited by the overhead of the execution layer, enabling it to scale throughput beyond current single-layer constraints. Developers are not limited to a single smart contract language, virtual machine, or even the Rollup framework.
With Celestia, developers can deploy high-throughput, unstoppable applications using any VM, whether to scale existing ecosystems like Ethereum or as their own sovereign network.
Recently, the core developer community of Celestia released its technical roadmap, with its core goal being to scale up to 1 GB blocks, significantly increasing the data throughput for Celestia’s Rollup ecosystem. In previous eras, Visa’s throughput (about 24,000 TPS) was considered an impressive benchmark. With 1 GB blocks, Celestia aims to provide the capacity equivalent to many Visa networks simultaneously.
“Last year, when Celestia was launched as the first modular data availability layer, it expanded block space from the dial-up era to the broadband era,” said Mustafa Al-Bassam, Co-founder of Celestia and Chairman of the Celestia Foundation. “Now, the core developers have unveiled a technical roadmap that expands block space to the fiber optic era while maintaining its verifiability and low latency.”
