Celestia Mainnet Review: Everything You Need to Know

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Celestia Mainnet Review: Everything You Need to Know

The main Celestia network is not just another blockchain project, it represents a significant shift in how blockchain networks are designed and operated. By focusing solely on organization and transaction exchange, Celestia introduces a unique approach that sets it apart from traditional networks.

The Celestia Labs team has completed the deployment of the beta version of the main network named Lemon Mint, announcing the network’s launch on Twitter.

Celestia’s Approach to Blockchain Architecture

You may be wondering what sets Celestia apart from traditional networks. By simultaneously organizing and executing transactions, Celestia creates a clear separation between transaction consensus and their actual execution. This difference streamlines and enhances the process, reducing the overall cost of developing decentralized applications.

Furthermore, by reimagining the fundamental blockchain architecture, Celestia provides a platform that is more accessible and economically efficient for industry innovators.

Celestia Mainnet Review: Everything You Need to Know

TIA Token: The Heart of Celestia

With the launch of the main blockchain network, its native token TIA was introduced. This token will play a crucial role in the ecosystem, facilitating transactions and incentivizing users.

Distribution and Trading of the Token

One of the most interesting aspects of the Celestia main network launch is its generous airdrop program.

The project has allocated 60 million TIA tokens for distribution among various groups of active participants. These groups include users of Ethereum Layer 2, participants in Cosmos Hub and Osmosis, as well as developers within the broader crypto ecosystem.

Airdrops account for 6% of the total supply of TIA tokens, providing a valuable opportunity for those actively engaged in the blockchain ecosystem.

Centralized exchanges, including KuCoin and Bybit, have already begun trading Celestia’s native token, TIA, at around 10 a.m. Eastern Standard Time on the day of the main network launch. Trading pairs will primarily involve the stablecoin USDT, offering users a convenient way to access TIA tokens.

Binance has confirmed its intention to list TIA, with trading expected to commence at approximately 16:00 UTC.


WhiteBIT also informed its users that the trading pair $TIA/$USDT will be available starting on October 31, 2023.

Funding and Support for Celestia

In October 2022, Celestia Labs secured a colossal $55 million in a funding round. This round was led by well-known firms such as Bain Capital Crypto and Polychain Capital. Such significant funding and support from industry giants underscore the potential and prospects of the Celestia project.

Mainnet Networks Launched in 2023:

WB Network

The WB Network is a blockchain solution by WhiteBIT, one of the largest European cryptocurrency exchanges. Its development began a year ago with the issuance of its native token (now a coin)- $WBT.

$WBT played a pivotal role in the integration of all WhiteBIT services into a unified product ecosystem, both from a marketing and technological perspective. Predictions about the creation of a full-fledged network were confirmed when the test version of WB Network was launched in April 2023.

This event allowed for a more detailed examination of the blockchain’s interface and technical foundation.
Moreover, the use of $WBT provides benefits for the community and enhances the user experience within the WhiteBIT product ecosystem. In particular, the coin offers a wide range of integrations with exchange products, including:

— Increased referral percentages.
— Reduced trading fees.
— Fee fund withdrawals.
— Free proof of deposits (POD).
— Enhanced deposit rates for $WBT.

BASE

The testnet for the BASE blockchain was launched on February 23, 2023, and quickly became a platform for various Web3 projects. Just three months later, several products were introduced on BASE, including:

  • Blackbird (a food service reference service)
  • Parallel (a collectible card game based on NFTs)
  • Thirdweb (a toolkit for blockchain development)
  • OAK (a cryptocurrency for an exclusive community aiming for a more accessible blockchain landscape).

Furthermore, what’s most important is that the testnet fully revealed BASE’s future goals and blockchain usage. BASE focuses on developing a chain that is better adapted to Web3. This highly anticipated Layer 2 solution from BASE was launched on August 9. It achieved impressive results: in less than a month, 11.5 million transactions were processed, with a record of 15.88 transactions per second, and the number of unique users reached 1 million just 11 days after its release.

BASE is a Layer 2 solution that provides cost-competitive and secure development on the network. BASE’s structure is based on Ethereum L2. It provides an Ethereum-like structure with lower costs and greater security, stability, and scalability to expand dApp development capabilities and meet other blockchain technical requirements.

Conclusion

Celestia’s mainnet launch marks a significant milestone in the world of blockchain technology. The deployment of the Celestia Labs team’s beta version of the main network, named Lemon Mint, has provided a closer look at the blockchain’s technical foundation and user interface. The introduction of the TIA token within the Celestia ecosystem is a crucial element in streamlining transactions and incentivizing users, further enhancing the project’s appeal.

Deniz Tutku is a digital journalist with a background in copywriting. A longtime cryptocurrency enthusiast, she has been following the industry closely for many years. Having moved on from her early career, Deniz now writes extensively about various events and developments in the cryptocurrency world, providing her audience with in-depth and informed views on the field.

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