The Celestia Foundation has announced the raising of $100 million in a new funding round, advancing its innovations in blockchain technology.
Funding Raised
The Celestia Foundation announced that it has raised $100 million in funding, led by Bain Capital Crypto and joined by Syncracy Capital, 1kx, Robot Ventures, and Placeholder. This brings the project's total funding to $155 million.
Technological Achievements
The modular blockchain Celestia offers developers a secure way to scale blockchain systems and launch private chains. Its infrastructure simplifies the creation and management of blockchains, providing a high-throughput and easily verifiable modular foundation for managing transactional data. Celestia supports various virtual machines (VMs), facilitating the development and scaling of applications, including integration with existing ecosystems like Ethereum.
Future Goals and Plans
With the launch of its mainnet in October 2023, Celestia has already seen an early developer ecosystem emerge, with over 20 active chains. The developer community now aims to scale the network to 1-gigabyte blocks, significantly increasing data throughput and potentially rivaling networks like Visa.
The Celestia Foundation continues to attract substantial funding and implements advanced technological solutions for blockchain scalability, making it one of the leaders in decentralized network development.
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