Celestia, a leading network and one of the few modular blockchains available, is making significant advancements. Less than a year after transitioning to the mainnet following extensive testing, the platform is bold in its efforts to scale the base layer and enhance data availability.
Celestia’s Ambitious Plans for 1 GB Blocks
In a recent announcement, the core developers of the platform stated that they are gearing up for the next phase, which includes the introduction of 1 GB blocks. This decision marks a significant step toward scaling on-chain capabilities and increasing throughput further.
This approach makes sense. Celestia’s modular architecture allows the network to scale efficiently. Unlike Ethereum, which faces challenges in scaling on-chain and relies heavily on off-chain solutions like Base and StarkNet, Celestia maintains scalability and adaptability, overcoming the hurdles that traditional networks encounter.
With the introduction of 1GB blocks, Celestia assures that developers will have the freedom to create as they wish. Highlighting the advancements of contemporary chains, developers are not limited to deploying smart contracts in a single programming language, as is the case with Ethereum’s reliance on Solidity or Rust. Instead, they can select the languages they are most comfortable with.
To support the implementation of 1 GB blocks, Celestia plans to roll out innovations such as content-addressable mempools and compact blocks. Furthermore, they will initiate the deployment of internal sharding nodes and enhance their data availability sampling protocol.
TIA Plummets 80%: Will the Supply Surge Accelerate the Decline?
Despite these promising developments, TIA, the native currency, is experiencing a significant downturn. Price data reveals that the bears have taken over since prices peaked at $21 in February, causing the coin to drop by more than 80%.
Currently, the coin is under severe selling pressure. If the trend continues, sellers may reverse all the gains achieved following its listing on Binance in early November.
The primary concern is the forthcoming token unlock scheduled for October 30. Typically, token unlocks are viewed as bearish due to the anticipated surge in supply.
Today, the platform will release 175 million TIA, which accounts for 16.5% of the total supply. Following this, 1 million TIA will be released daily starting from November 1.
Looking ahead to next year, Token Unlocks, a monitoring platform, predicts TIA’s supply will increase by nearly four times. If demand remains as low as it currently is, prices could potentially dip below the November 2023 lows due to the significant supply influx.
