Celestia, a layer-1 data availability network, is on track to surpass Ethereum as the top onchain data storage provider, as per Blockworks Research. Since May, Celestia has been steadily gaining market share from Ethereum, starting at 20% and reaching around 40% by July 31. Launched in 2023, Celestia offers a modular data availability network for launching blockchains securely, competing directly with Ethereum. Despite Ethereum's Dencun upgrade introducing cost-saving measures like 'blobs' for offchain data storage, Celestia still offers cheaper data storage solutions. Other challengers in data availability include EigenLayer and Avail. However, Ethereum's dominance in decentralization, stability, and total value locked (TVL) solidifies its position as Web3's primary settlement layer. According to Blockworks' Dan Smith, Ethereum's core strengths ensure its continued relevance in the evolving crypto landscape. Read more AI-generated news on: https://app.chaingpt.org/news

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