The native token of the Celestia blockchain, TIA has a market capitalisation of over $US1.3 billion. That locations it within the high 100 cash globally, however the token’s worth appears to be trending downwards.
TIA began the 12 months at round $US12, reached an all-time excessive of over $US20 in February, and on the time of writing was value $US6.90. After all that’s nonetheless up over 200% on its preliminary itemizing worth of $US2.08 round 240 days prior.
Celestia is a Layer 1 blockchain, designed to be ‘modular’ in nature with the purpose of creating it straightforward for builders to launch their very own blockchain. Growth time is primarily lowered by enabling builders to mix current rollup (aka Layer 2 scaling answer) expertise choices to create their very own customised stack. Celestia lets you’ll be able to construct an impartial blockchain the place:
- The ‘execution’ layer of the blockchain—the place good contracts and transactions occur—could be separate from the consensus mechanism.
- The blockchain’s consensus mechanisms and knowledge availability features leverage Celestia infrastructure, together with its community validators.
The Celestia mission was initiated in 2019 by co-founders Mustafa Al-Bassam and Ismail Khoffi and attracted appreciable enterprise capital funding together with a $US1.5 million seed spherical in 2021 and $US55 million raised in 2022. Celestia is constructed on the Cosmos SDK framework.
What Is the TIA Token?
One billion TIA tokens have been created, with 20% for public allocation. Its present circulating provide is round 193 million. Extra tokens owed to preliminary buyers might be step by step unlocked over coming years—which could be freely traded—with the primary unlock occasion in October this 12 months.
The TIA token’s position within the Celestia blockchain is three-fold:
- Builders use TIA to pay gasoline charges on transactions and to publish knowledge to what’s often known as a ‘blobspace’ on the community’s knowledge availability layer.
- Community validators and delegators stake TIA to help community consensus actions—verifying and securing transactions throughout a decentralised community of computer systems—as Celestia is a proof-of-stake blockchain. Validators and delegators additionally earn staking rewards within the type of TIA.
- TIA holders get some governance powers, having the ability to suggest and vote on proposals to vary a subset of community parameters.
Celestia’s TIA token is to not be confused with the token of the Tiamonds mission, which additionally trades beneath the TIA image. The alternate TIA is a token distributed to house owners of tokenised diamonds offered through the Tiamonds platform—which touts itself because the world’s largest tokenised diamond market.
