2023-12-25
Celestia is a modular blockchain as opposed to traditional
monolithic blockchains. It is a proof-of-stake blockchain built from the Cosmos
SDK.
Celestia is a blockchain development tool that let developers launch
their own blockchains and rollups. Developers can use Celestia to build their
own blockchains or use Celestia to build rollups.
A blockchain transaction consists of 4 layers including
Execution layer
It imposes programming language that build on top of a
blockchain such as Ethereum Virtual Machine, Solana Virtual Machine, and Arbitrum VM.
Or it tells what blockchain development tool a particular
blockchain builds on such as OP Stack, Cosmos SDK, and Polygon CDK.
Consensus layer
It is a mechanism to create new blocks and confirm transactions
such as Proof-of-Work and Proof-of-Stake.
Data availability layer
Data availability means applications or validators post data on
blocks. It is data that available for downloading to verify the transactions
such as Alice transferred 5 BTC to Bob.
Settlement layer
It adds transaction data into the blockchain. Settlement layers
ensures the transaction cannot be rolled back when the transaction is
completed.
Building on Celestia, Developers that build rollups and blockchains work on execution
and settlement layers. And Celestia is responsible for consensus
and data availability layers.
1. TIA used for securing Celestia’s proof-of-stake
network.
Validators and delegators earn staking rewards from network fees.
2. TIA used for paying Celestia’s network transaction
fees.
TIA uses for paying transaction fees when data is published on
Celestia or use TIA to pay for data availability.
3. Layer 2 rollups that built using Celestia’s framework
use TIA to pay for their network’s transaction fees
The same way Arbitrum or Optimism use ETH to pay for their network’s
transaction fees.
4. Governance
TIA token holders can propose and vote on proposals to improve
Celestia’s network.
Total supply of TIA at genesis is 1 billion TIA.
|
Category |
Description |
% |
|
Public Allocation |
Genesis Drop and Incentivized Testnet: 7.4% |
20% |
|
R&D & Ecosystem |
Tokens allocated to the Celestia Foundation and
core devs for research, development, and ecosystem initiatives including: |
26.8% |
|
Early Backers: Series A&B |
Early supporters of Celestia |
19.7% |
|
Early Backers: Seed |
Early supporters of Celestia |
15.9% |
|
Initial Core Contributors |
Members of Celestia Labs, the first core
contributor to Celestia |
17.6% |
TIA long-term inflation is 1.5%
TIA inflation rate starts at 8%. It decreases 10% every year until
it reaches the final inflation of 1.5%.
TIA will hit 1.5% inflation in the 16th years in 2039.
Both Celestia’s block time and time to finality are 15 seconds. TIA transaction fees on Jan 8, 2023 is about 0.035718 TIA ($0.47).
List of blockchain development tools.
1. Celestia
2. Cosmos SDK
3. OP Stack
4. Polygon CDK
5. Polkadot’s Parachain
6. Avalanche Subnet
Celestia is a revolutionary idea to develop blockchains and there is
no doubt that Celestia is the future of blockchain.
