Modular Blockchain Celestia Raises $100M to Expand High-throughput Support - Coincu

Key Points:

• Celestia Foundation raised $100 million, bringing its total funding to $155 million, led by Bain Capital Crypto.
• Modular blockchain Celestia simplifies launching private chains, enabling developers to build scalable applications on any VM.
• The platform aims to scale to 1-gigabyte blocks, significantly boosting data throughput, with its Mainnet Beta live since October 2023.

The Celestia Foundation announced that it had raised $100 million in funding, led by Bain Capital Crypto and joined by Syncracy Capital, 1kx, Robot Ventures, and Placeholder, among others.

Read more: Celestia Review: Pioneering Modular Blockchain Project To Extend Web3

Celestia Foundation Raises $100M in Funding Round

The new inflow of capital brings the total funding of this project to $155 million to drive innovation in blockchain scalability and accessibility.

Modular blockchain Celestia provides developers with a secure way of scaling blockchain systems and launching private chains.

Its infrastructure makes it easy for users to fire up their blockchains, and power a very high-throughput, easily verifiable data module used everywhere by rollups and Layer 2s to publish and manage transactional data. In this regard, Celestia is state-of-the-art in decentralized network development due to its modular architecture.

Celestia primarily seeks to reduce friction for developers by providing an efficient platform on which scalable, high-performance applications can be deployed. The modular blockchain Celestia allows any VM-a user’s favourite to develop and scale their applications, further leveraging the existing ecosystems such as Ethereum or creating independent blockchain networks.

Read more: Celestia Mainnet Beta Is Now Live After 60 Million TIA Token Airdrop

Modular Blockchain Celestia Aims at 1 Gigabyte Block Scaling for Higher Throughput

Celestia launched the world’s first modular consensus and data network in October 2023. Since launching its mainnet beta, it has seen an early developer ecosystem pop up on the platform, with as many as 20 rollup chains already deployed. Data blobs from Celestia are in hot demand and now make up more than half of all data published by rollups.

Looking ahead, the core developer community for modular blockchain Celestia has laid out an ambitious roadmap that aims to scale the network all the way up to 1-gigabyte blocks-a huge leap forward in data throughput in its ecosystem. When this is pulled off, it could give it a capacity rivalling many of the Visa networks running in parallel.

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