{"id":172094,"date":"2024-09-24T13:13:10","date_gmt":"2024-09-24T13:13:10","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172094"},"modified":"2024-09-24T13:13:13","modified_gmt":"2024-09-24T13:13:13","slug":"celestia-secures-100m-in-latest-funding-round-expanding-its-rollup-chains","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/celestia-secures-100m-in-latest-funding-round-expanding-its-rollup-chains\/","title":{"rendered":"Celestia Secures $100M in Latest Funding Round, Expanding Its Rollup Chains"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">$100M Funding Secured<\/span><\/strong><span data-preserver-spaces=\"true\">: Celestia Foundation raised $100 million in a funding round led by Bain Capital Crypto, bringing its total fundraising to $155 million, highlighting its growing importance in the blockchain space.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Modular Blockchain Focus<\/span><\/strong><span data-preserver-spaces=\"true\">: Celestia\u2019s modular blockchain approach separates consensus and data availability from execution, aiming to reduce congestion and costs, enhancing scalability and efficiency.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Expansion and Scaling<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">: With the new funding, Celestia plans to expand its roll-up chains and scale its network\u2019s block size to 1 gigabyte, potentially surpassing traditional payment networks in transaction processing capacity.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">The <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/news\/companies\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Celestia<\/span><\/a><span data-preserver-spaces=\"true\"> Foundation has achieved a remarkable milestone by <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/blog.celestia.org\/celestia-foundation-raise\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">securing <\/span><\/a><span data-preserver-spaces=\"true\">$100 million in its latest funding round<\/span><\/strong><span data-preserver-spaces=\"true\">, spearheaded by Bain Capital Crypto. This impressive investment also attracted contributions from Syncracy Capital, 1kx, Robot Ventures, and Placeholder. <\/span><!--more--><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">With this new influx of capital, Celestia&#8217;s total fundraising efforts have now reached $155 million, underscoring the project&#8217;s growing significance in the blockchain space.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Focus on Modular Blockchain Ecosystem<\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Celestia is pioneering a modular approach to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">blockchain <\/span><\/a><span data-preserver-spaces=\"true\">technology<\/span><\/strong><span data-preserver-spaces=\"true\">, which separates the consensus and data availability layers from the execution layer. <\/span><strong><span data-preserver-spaces=\"true\">This architecture allows developers to create layer-2 rollups<\/span><\/strong><span data-preserver-spaces=\"true\"> with greater flexibility compared to traditional monolithic chains like Ethereum. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">By decoupling these functions, Celestia aims to reduce congestion and lower costs, making blockchain-based services more efficient and scalable.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Expanding Rollup Chains<\/span><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172095\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CelestiaBlockchain.jpg\" alt=\"Celestia Secures $100M in Latest Funding Round, Expanding Its Rollup Chains\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CelestiaBlockchain.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CelestiaBlockchain-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CelestiaBlockchain-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Since the launch of its mainnet beta in October 2023, <\/span><strong><span data-preserver-spaces=\"true\">Celestia has seen the deployment of at least 20 rollup chains.<\/span><\/strong><span data-preserver-spaces=\"true\"> These chains utilize Celestia\u2019s data blobs, which now account for more than half of the total data published by rollups. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The recent funding will further support the expansion of Celestia\u2019s rollup ecosystem, enhancing its capacity to handle more transactions per second and improving overall network performance.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Scaling to New Heights<\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Celestia\u2019s core developers have unveiled a technical roadmap<\/span><\/strong><span data-preserver-spaces=\"true\"> aimed at scaling the network\u2019s block size to 1 gigabyte. This upgrade is expected to dramatically increase data throughput, potentially surpassing the transaction processing capacity of traditional payment networks like Visa. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The company\u2019s roadmap detailed plans to ensure <\/span><strong><span data-preserver-spaces=\"true\">low latency<\/span><\/strong><span data-preserver-spaces=\"true\"> and <\/span><strong><span data-preserver-spaces=\"true\">data integrity<\/span><\/strong><span data-preserver-spaces=\"true\"> while expanding the network\u2019s capacity to support various applications, including <\/span><strong><span data-preserver-spaces=\"true\">enhancing current blockchain ecosystems<\/span><\/strong><span data-preserver-spaces=\"true\"> and <\/span><strong><span data-preserver-spaces=\"true\">creating new, standalone networks<\/span><\/strong><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Mustafa Al-Bassam, co-founder of Celestia and chairman of the Celestia Foundation, highlighted that this development would transition Celestia from the <\/span><strong><em><span data-preserver-spaces=\"true\">\u201cbroadband era\u201d<\/span><\/em><\/strong><span data-preserver-spaces=\"true\"> to the <\/span><strong><em><span data-preserver-spaces=\"true\">\u201cfiber optic era\u201d<\/span><\/em><\/strong><span data-preserver-spaces=\"true\"> of blockchain technology.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Celestia&#8217;s Future Prospects<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Despite the recent decline in the TIA token\u2019s value, the substantial investment underscores investor confidence in Celestia\u2019s innovative approach to blockchain scalability. With the new funding, Celestia is well-positioned to continue its growth and solidify its place as a leader in the modular blockchain space.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR $100M Funding Secured: Celestia Foundation raised $100 million in a funding round led by Bain Capital Crypto, bringing its total fundraising to $155 million, highlighting its growing importance in the blockchain space. Modular Blockchain Focus: Celestia\u2019s modular blockchain approach separates consensus and data availability from execution, aiming to reduce congestion and costs, enhancing scalability &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Celestia Secures $100M in Latest Funding Round, Expanding Its Rollup Chains\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/celestia-secures-100m-in-latest-funding-round-expanding-its-rollup-chains\/#more-172094\" aria-label=\"More on Celestia Secures $100M in Latest Funding Round, Expanding Its Rollup Chains\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":172096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4620,9900,5536,9906],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172094"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172094"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172094\/revisions"}],"predecessor-version":[{"id":172097,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172094\/revisions\/172097"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172096"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}