Celestia Mainnet Launch Marks Milestone for Modular Blockchain

On October 31st at 2 pm UTC, Celestia's mainnet goes live, initiating with its Genesis block to distribute the TIA token airdrop to eligible claimants. The mainnet release follows the issuance of TIA tokens to 580,000 users, offering a solution to scalability and stability challenges that traditional blockchains like Ethereum and Solana face.

Modular data availability network Celestia introduces its mainnet beta to address scalability issues without compromising security. As TIA tokens begin trading around $2.29, this event is set to distribute around $120 million in on-chain value, primarily targeting users within the Cosmos (ATOM) and Ethereum (ETH) layer 2 ecosystems, potentially influencing on-chain activity and asset prices.

Celestia's approach involves modular blockchains, resolving scalability problems through specialized channels for speed and execution while ensuring data availability with data availability sampling (DAS). Ekram Ahmed, a spokesperson at the Celestia Foundation, explains that this beta empowers rollups and other modular chains to utilize Celestia as a data availability and consensus layer.

Initially featuring 2MB blocks with support for up to 8MB blocks, the blockchain intends to upgrade for 1GB blocks in the future. Celestia, valued at $1 billion following a $55 million Series A and B funding round last year, marks the beginning of a new era in blockchain technology.