Celestia

Celestia (TIA)

Full information about Celestia (TIA). Current Celestia price in GIP, TIA open/close rates, Celestia history charts, Celestia market capitalization and volume.

1 TIA = 4.24 £ Gibraltar Pound (GIP)
5.6246912 GIP

Last updated: 2024-10-01 01:41:00 UTC - about 7 months ago 1 USD = 0.754311 GIP

General information
Global rank:61
Name: Celestia Celestia
Symbol:TIA
Current coin price (GIP):4.24 £
Last hour:arrow_upward0.260 %
Last 24 hours:arrow_downward-6.61 %
Last 7 days:-12.05 %trending_down
Capitalisation (GIP):909 938 422.46 £
Volume 24h (GIP):87 619 300.13 £
Available supply:214 468 185.00 TIA
Total coin supply:-1 TIA
Start date:2023-10-31
Last updated: 2024-10-01 01:41:00 UTC - about 7 months ago

Celestia/Gibraltar Pound (TIA/GIP) price chart

Celestia/Gibraltar Pound (TIA/GIP) capitalisation and volume charts

What is Celestia (TIA)?

Celestia is described as a modular data availability network that significantly scales its capabilities with the increase in the number of users. This innovative approach allows for the easy launch of independent blockchains by different users. The key technological innovation in Celestia is data availability sampling (DAS), which underpins the network's ability to scale effectively with user growth. Celestia's architecture is designed in such a way that it separates execution from consensus, which is a departure from traditional blockchain architectures. This separation allows Celestia to function as a minimal blockchain, focusing primarily on data availability​​.

What is Celestia (TIA) used for?

TIA, the native asset of Celestia, fulfils several critical roles within the network:

  • Paying for Blobspace: Developers use TIA to pay for data availability services on the Celestia network. This is done through 'PayForBlobs' transactions, where the fees are denominated in TIA.
  • Bootstrapping New Rollups: Celestia allows developers to launch their own blockchain with ease, similar to deploying a smart contract. In this context, TIA can be used as a gas token and currency for these newly deployed blockchains, especially in their initial stages. This alleviates the need for developers to issue a new token immediately.
  • Proof-of-Stake: Celestia uses a proof-of-stake mechanism, which is built with the Cosmos SDK. This allows users to participate in securing the network by delegating their TIA to validators in exchange for a portion of the staking rewards.
  • Decentralised Governance: Holders of TIA also play a crucial role in the decentralised governance of Celestia. They can vote on network parameters and governance proposals and have a say in the governance of the community pool, which receives a portion of the block rewards​​​​.

Who created Celestia (TIA)?

Celestia was co-founded by Mustafa Al-Bassam and Ismail Khoffi. Mustafa Al-Bassam, the CEO of Celestia Labs, is known for his work in blockchain scaling and was a co-founder of Chainspace, later acquired by Facebook. Ismail Khoffi, serving as the CTO of Celestia Labs, has a background in engineering, with experience at Tendermint and the Interchain Foundation. Their expertise in blockchain technology and distributed computing has been pivotal to Celestia's development and vision.