Celestia raises another $100 million, technology roadmap announced

Source: Celestia Blog; Compiled by: Wuzhu, Golden Finance

The Celestia Foundation announced that it has raised $100 million, led by Bain Capital Crypto, with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, etc. This brings the total financing of the project to $155 million.

Celestia Mainnet Beta will be launched in October 2023, providing the industry's first dedicated modular consensus and data network. Since its release, an early ecosystem has been formed, with developers deploying the first 20 Rollup chains, and Celestia data blocks recently reaching more than half of the total data released by Rollup.

Before Celestia, scaling a permissionless blockchain typically meant optimizing a monolithic L1, where applications run on a single shared execution layer. But Celestia is not limited by execution layer overhead, enabling it to scale throughput beyond current monolithic constraints. Developers are not limited to a single smart contract language, virtual machine, or even Rollup framework.

With Celestia, developers can deploy high-throughput, unstoppable applications using any VM, whether extending existing ecosystems like Ethereum or as their own sovereign network.

Recently, Celestia’s core developer community unveiled its technical roadmap with a central goal: to continually scale to 1 GB blocks, bringing a massive increase in data throughput to Celestia’s Rollup ecosystem. In previous eras, Visa’s throughput (~24,000 TPS) was considered an impressive North Star. With 1 GB blocks, Celestia is expected to provide the capacity of many Visa networks simultaneously.

“Last year, when Celestia launched as the first modular data availability layer, it expanded the blockspace from the dial-up era to the broadband era,” said Mustafa Al-Bassam, Celestia co-founder and chairman of the Celestia Foundation. “Now, the core developers have unveiled a technical roadmap to expand the blockspace to the fiber era—while maintaining its verifiability and low latency.”