Celestia raises $100 million in technology roadmap released

Source: Celestia Blog; Compiled by: Wuzhu, Bitchain Vision

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 financing of the project to $155 million.

Celestia Mainnet Beta was launched in October 2023 and provides the industry’s first dedicated modular consensus and data network.An early ecosystem has been formed since its launch, with developers deploying the first 20 Rollup chains, and the Celestia data block has recently reached more than half of the total data released by Rollup.

Prior to the advent of Celestia, extending permissionless blockchains often meant optimizing monolithic L1, where applications run on a single shared execution layer.However, Celestia is not limited by execution layer overhead, so it can exceed the current monolithic constraints to scale throughput.Developers are not limited to a single smart contract language, virtual machines, or even Rollup frameworks.

With Celestia, developers can use any VM to deploy high-throughput, unstoppable applications, whether extending an existing ecosystem (such as Ethereum) or as their own sovereign network.

Recently, Celestia’s core developer community unveiled its technology roadmap, with its core goal: to continuously expand to 1 GB blocks, bringing a significant increase in data throughput to Celestia’s Rollup ecosystem.In previous eras, Visa’s throughput (approximately 24,000 TPS) was considered an impressive North Star.With 1 GB block, Celestia is expected to provide the capacity of many Visa networks at the same time.

“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, core developers have launched a technology roadmap that extends block space to the fiber era – while maintaining its verifiability and low latency.”