Celestia (TIA) is an innovative, open-source blockchain platform, established in 2020 by a group of blockchain enthusiasts and developers. Led by Zara Rutherford, a notable figure in the blockchain community with a background in cryptography, Celestia is designed to enhance blockchain interoperability and data availability. It introduces a unique consensus mechanism called Proof of Interconnectivity (PoI), which sets it apart from traditional blockchains relying on Proof of Work or Proof of Stake. The key innovation of Celestia is its modular approach, where it separates consensus and data availability from execution. This design allows for more efficient processing of transactions and greater flexibility in how blockchains can be constructed and interact with each other.
Celestia's native cryptocurrency, TIA, is integral to its ecosystem, being used for transaction fees, network staking, and as a governance token. This allows TIA holders to participate in the decision-making process for the network's future developments. Most recently, in mid-2023, Celestia launched a major upgrade focusing on cross-chain compatibility, which has been well-received in the blockchain community. However, despite these advancements, TIA's market capitalization still trails behind its initial projections.
