TIACelestia (TIA) Price

What is Celestia (TIA)?

Celestia (TIA) is a modular data availability network designed to scale securely with the number of users, enabling easy blockchain launches. It is utilized by Rollups and Layer 2 solutions for publishing transaction data accessible for download. Celestia offers high-throughput data availability that can be verified efficiently with light nodes. Its modular blockchain stack allows individuals to launch their own blockchains without requiring a validator set.

Who Created Celestia (TIA) ？

The Celestia team is a group of experienced professionals with diverse backgrounds in software engineering, law, and electrical engineering. Many team members have prior experience in the blockchain industry, having founded or worked for companies like Chainspace, cLabs, and The Ethereum Classic Cooperative. They also have research and development experience from roles as researchers or teaching assistants at universities.

How Does Celestia (TIA) Work?

Celestia's data availability layer is a solution to the data availability problem in blockchain networks. It utilizes features like Data Availability Sampling (DAS) and Namespaced Merkle trees (NMTs) to enable light nodes to verify data availability without downloading entire blocks. DAS involves encoding block data using 2-dimensional Reed-Solomon encoding, with light nodes sampling data shares and verifying their availability through Merkle proofs. This approach allows Celestia to scale its DA layer by involving resource-limited light nodes in the verification process, leading to increased throughput as more light nodes participate.

Tokenomics

What is Celestia (TIA) used for?

Celestia's native asset, TIA, plays a crucial role in the ecosystem by being used to pay for blobspace and as a gas token for developers building on the modular blockchain network. Developers can bootstrap new rollups without needing to issue a separate token by utilizing TIA. The network uses proof-of-stake consensus mechanism secured by users delegating their TIA to validators. Additionally, TIA staking enables decentralized governance where the community can participate in decision-making processes such as voting on network parameters and managing the community pool.

Token Distribution

The total supply at genesis for TIA is 1,000,000,000 tokens.
The TIA inflation starts at 8% annually and decreases by 10% every year until it reaches the long-term issuance rate of 1.5%. The annual provisions for inflation are calculated based on the total supply of TIA at the beginning of each year. Celestia uses the block timestamp to calculate how many TIA to issue per block, as the time between blocks can vary and cause actual issuance to be higher than the target.