Celestia- Modular blockchain to improve scalability

Tuesday, January 2, 2024 9:38 AM UTC

Celestia is a modular data availability (DA) network that securely scales with the number of users, making it easy for anyone to launch their blockchain.

Modular Blockchain-

The Modular blockchain is blockchain which is different from monolithic blockchain. It does execution, consensus, and other functions over multiple specialized chains. The idea of a modular blockchain is that it can specialize in a couple of functions instead of trying to do everything.

Its specialized functions are

Execution

Settlement

Consensus

Data availability

Rollups - This is a type of modular blockchain that specializes in execution and sends them to another modular blockchain to handle the other core functions.

Decoupling of layers-

Celestia's main feature is to decouple the traditional blockchain layer 1 by separating the consensus and execution layers. It shows that the consensus is only responsible for ordering transactions and availability.

Data availability sampling- Celestia uses Data availability sampling which verifies data availability without downloading data from the entire block. It increases transaction speed and minimizes costs.

Celestia Blockchain details-

Blockchain time- 15 seconds

Transaction Speed- 0.19 seconds

Transaction fees- $0.01.

TIAUSD prices recovered more than 25% after a minor sell-off. The pair jumped more than 550% from an all-time low of $2.21. It hit a high of $15.30 and is currently trading around $13.48. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).

The near-term resistance is around $15.35, any indicative breach above will take the pair to $$17.75/$20. On the lower side, immediate support is $10, and any violation below targets $8/$5.

Indicators ( Daily chart)

CCI(50)- Bullish

Directional movement index - Neutral

It is good to buy on dips around $11 with SL around $8 for TP of $20.