TL; DR
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The Celestia Foundation called the launch of the Celestia Network: “The beginning of a new era” [for blockchain technology].
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Instead of relying on a single blockchain to validate transactions, Celestia connects a number of blockchains in a modular way, each with their specific strengths.
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While the concept of a modular blockchain sounds great in theory, to be successful, any blockchain really needs adoption (from developers, investors, and users).
Full story
The Celestia Foundation just launched a big claim.
They called the launch of the Celestia Network: “The beginning of a new era” [for blockchain technology].
At first we thought “nohhh, that’s not possible.”
But as we looked into it, we started to think that this could actually be the start of a new era for blockchain technology (if it catches on).
What are we talking about? Buckle up, it’s going to be nerdy!
We’ve written about the blockchain trilemma in the past.
(The general concept is that the holy grail for blockchain technology is a high level of decentralization and security And dish).
Celestia believes they have found a way.
Today, ‘monolithic’ blockchains can only scale at the expense of decentralization and/or security.
Take Solana for example: decent scale, decently decentralized, but at the cost of four hacks in the last three years.
Meanwhile, Bitcoin is super secure (never hacked), decentralized, but transactions are slow and limited (lacks scale).
However, Celestia is a ‘modular’ blockchain.
Instead of relying on a single blockchain to validate transactions, they connect a number of blockchains in a modular way, each with their specific strengths.
Think of it this way: imagine a single doctor performing every type of surgery: brain surgery, heart surgery, everything. It would be insane!
Instead, most doctors have their own specialties and treat patients with problems related to that specialty.
(The same goes for blockchains).
This is our opinion:
While the concept of a modular blockchain sounds great in theory, to be successful, any blockchain really needs adoption (from developers, investors, and users).
So the question remains: is this a new era for blockchain technology?
Time will tell!