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 yr at round $US12, reached an all-time excessive of over $US20 in February, and on the time of writing was price $US6.90. After all that’s nonetheless up over 200% on its preliminary itemizing value 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. Improvement time is primarily decreased by enabling builders to mix present rollup (aka Layer 2 scaling resolution) know-how choices to create their very own customised stack. Celestia lets you possibly can construct an impartial blockchain the place:
- The ‘execution’ layer of the blockchain—the place good contracts and transactions occur—may be separate from the consensus mechanism.
- The blockchain’s consensus mechanisms and information availability capabilities leverage Celestia infrastructure, together with its community validators.
The Celestia venture 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 traders can be step by step unlocked over coming years—which may be freely traded—with the primary unlock occasion in October this yr.
The TIA token’s function within the Celestia blockchain is three-fold:
- Builders use TIA to pay gasoline charges on transactions and to publish information to what’s often called a ‘blobspace’ on the community’s information availability layer.
- Community validators and delegators stake TIA to assist 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 change a subset of community parameters.
Celestia’s TIA token shouldn’t be to be confused with the token of the Tiamonds venture, which additionally trades underneath the TIA image. The alternate TIA is a token distributed to homeowners of tokenised diamonds offered through the Tiamonds platform—which touts itself because the world’s largest tokenised diamond market.