Celestia has popularized the concept of modular blockchain, an innovation in the ecosystem addressing a recognized demand. The TIA token has seen a significant appreciation (660% in three months) due to promises of airdrops from projects relying on Celestia. However, the modularity concept complicates blockchain operations and carries risks as Celestia acts as a new intermediary.
Only 7.4% of tokens were initially reserved for individual investors, raising concerns about the potential impact when private investors can sell their holdings. Celestia, launched in October 2023, positions itself as a modular blockchain specializing in data availability, akin to the "Amazon Web Services (AWS) of Web3."
The project raised $56.5 million through two funding rounds, involving notable investors such as Binance Labs and Bain Capital Crypto. Celestia's team, led by CEO Mustafa Al-Bassam, a former LulzSec co-founder, has garnered attention and community support. The TIA token serves as both a governance tool and network security through staking.
Celestia's attractiveness lies in cost efficiency compared to Ethereum for data storage, with support from projects like Dymension and Manta. However, choosing Celestia introduces an additional intermediary and potential vulnerabilities, according to Ethereum co-founder Vitalik Buterin.
Governance shows a concentration of power, with 49% of TIA staked, and potential risks emerge as the vesting period ends in 2024, allowing private investors to sell. Competitors include Ethereum, while Celestia's roadmap focuses on Blobstream implementation and fee-burning discussions. The TIA's price surge prompts a cautious evaluation of its current market capitalization.
In conclusion, TIA appears as an intriguing investment in 2024, driven by the modularity trend, Celestia's leadership, and staking opportunities. However, distribution concentration among the team and private investors should be noted. Purchase options include major platforms like Binance and Coinbase, with non-custodial wallets like Keplr or Leap recommended for staking and airdrop participation.
