Altcoin Spotlight: Celestia (TIA)

Every day there are new cryptocurrencies being launched, while others crash and disappear from the charts forever. Here are MintDice.com, we make it our mission to research any token that makes it to the top 50, and this week, the new addition is a cryptocurrency called Celestia.

But what does Celestia do? And should you consider investing? We answer all these questions and more, so keep reading.

What is Celestia?

Celestia is a modular blockchain built upon the Cosmos network. It is a type of blockchain designed to make the launch of other blockchains and dApps easier by providing a basic network for data.

Celestia specifically focuses on scalability, as it separates the main aspects of a blockchain, processing them in parallel. This means that instead of having to focus on one transaction at a time, projects built on Celestia can process multiple, increasing blockchain speed and the ability to scale.

How Does Celestia Work?

First and foremost, Celestia offers options for developers. It makes all aspects of deploying and maintaining a blockchain available separately, allowing companies to use only the elements of a blockchain they need for their project. Think of it a little like a “make your own pizza” station, where you get the crust but then get to add toppings as you please.

In addition to de-coupling various aspects of blockchain technology, Celestia allows the consensus mechanism and execution of a transaction to be decoupled, allowing for far more possibilities when it comes to scaling a blockchain. It also allows for more experimentation than ever before, allowing companies to choose and try a large variety of blockchain aspects before committing to one. It does all of this via data availability sampling technology.

The coolest thing of all, however, is likely the built-in security that the Celestia system provides. While most developers who set out to build a blockchain have to work with a third party or dApp to secure their blockchain, Celestia does it for them, creating a safe space for the creation of new blockchains.

It is important to note that Celestia isn’t a full blockchain on its own, though, but rather a data availability layer for the Cosmos blockchain, making it function more like a layer two solution.

Who Invented Celestia?

Celestia was invented in 2019 by Mustafa Al-Bassam, Ismail Khoffi, and John Adler. Mustafa Al Bassam has a background in hacking, while both Ismail Khoffi and John Adler come from a software engineering background. Together, these three were able to build Celestia with software development and cybersecurity in mind.

As far as we know, they are all still involved in the project today and hold a large portion of the initial round of TIA tokens.

What is TIA?

TIA is the governance token associated with the Celestia blockchain. Those holding enough TIA will have a say in the future direction and developments of the blockchain.

While the blockchain technically had its advent in 2019, it took a while for the ideas of the creators to catch on, and it took until October 2021 for the creators to gain enough funding to truly begin development on the platform. As such, the first TIA token wasn’t released until 2023 and is still considered a relatively new token despite the age of the project itself.

Currently, only a very small amount of TIA is available with future airdrops planned in the coming months to increase interest in the project and market capacity.

Should You Invest in TIA?

If you are part of a business in the blockchain world or are a software developer looking to build a blockchain, then TIA might be a good investment for you.

That being said, Celestia (TIA) is still a relatively new project which is in the initial stages of launch. While there has been a positive reception to the first few rounds of token releases, it’s important to keep in mind that we aren’t sure yet whether this project will be everything it promises to be.

When compared to other projects that have made it to the top 50 on coinmarketcap, Celestia certainly isn’t a bad one either. We don’t think it’s a scam, and we do think that the developers are open about the future of the project. Additionally, there are several reputable blockchain companies backing the fledging project.

Of course, this likely isn’t the cut-and-dry answer you are looking for, but overall, we don’t recommend investing just yet unless you truly see yourself using the Celestia product in the future.

We do, however, caution those looking to buy immediately, as a few major token unlocks are just a few days away which could drastically affect current prices and trends—and not in a positive way.  Therefore, it might be better to wait a bit before considering an investment in the token.

Where to Buy TIA

TIA is still a relatively new cryptocurrency project, but it is available on several exchanges as of November 1, 2024. These may change in the future, however, as the project gains more popularity.

·      Coinbase

·      Gate.io

·      Binance

·      WhiteBIT

·      Kraken

·      KuCoin

Do note that while some of these platforms do allow you to buy TIA with fiat currency, some require you to exchange for a stablecoin or utility token first.

What Are Similar Projects to Celestia?

Projects like Celestia, which build on and improve already existing blockchains, are becoming more and more popular in the cryptocurrency world. The most comparable projects are Hedera, NEAR Protocol, and Aptos—all of which offer additional features and capabilities for already existing blockchains.

Overall, whether or not you decide to buy TIA is a personal decision. While this project does seem to be on the up and up, it is also still considered a very risky investment. So, if you decide to move forward with an investment, we urge you to proceed with caution. We also recommend discussing your investment with someone you trust before placing it.

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