😱👀 Celestia Offers TIA Token Airdrop as Network Goes Live, Claims 'Modular Era' Has Begun
Modular blockchain Celestia has launched its mainnet beta version following the launch of the native TIA token to 580,000 users.
Described as a "modular data availability network that scales securely based on the number of users," Celestia aims to solve the scalability and stability problems common to monolithic blockchains such as Ethereum and Solana.
"This is the beginning of a new era," the Celestia Foundation, which is supporting the network's development, wrote in a blog post. "The modular era."
According to CoinMarketCap, as of about 2:30 ET (6:40 UTC), TIA tokens were changing hands for around $2.29.
"Based on current market prices, the Celestia airdrop is estimated to distribute approximately $120 million in on-chain value, targeting users in the Cosmos (ATOM) and Ethereum (ETH) layer 2 ecosystems," FundStrat analyst Sean Farrell said. Tuesday in a note to subscribers. "This can either encourage intra-chain activities or benefit asset prices by flowing into related assets."
Modular blockchains are designed to solve scalability problems by using specific channels for speed and execution, unlike monolithic blockchains, which can only be scaled at the expense of decentralization or security. Celestia also uses data availability sampling (DAS), which is a way to verify all the data available on a blockchain. The combination helps to increase the speed at which data is transferred.
"Celestia's mainnet beta launch marks the arrival of the first live modular data availability network with data availability sampling," said Ekram Ahmed, spokesman for the Celestia Foundation. "The Celestia mainnet is a giant step in our mission to make the deployment of chains as easy as smart contracts."