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Make Crypto Simple
Crypto News and Concepts Made Simple - Straight to your inbox, every Monday.
I think I’ve done it.
Everyone in crypto wants to be early to the next big thing. First Bitcoin, then Ethereum. Then some of those silly dog coins.
There is one coin out there that is completely changing the game, and I think has the potential to eventually flip Ethereum. This would mean a price increase of 120x on said coin. Are you ready to be early?
🌟 What is Celestia? 🌟
A Modular Blockchain Network 🛠️
Celestia stands out as a modular blockchain network. It's like a customizable toolset in the world of blockchain, aiming to support enormous 1GB blocks and over a million rollups. This innovative approach tackles the famous blockchain trilemma - balancing security, scalability, and decentralization - by dividing different functions into separate layers.
Modular blockchains? What?
Think of these as a more efficient way to build and run blockchains. Unlike traditional blockchains, which handle everything (like transaction execution, consensus, and data storage) in one place, modular blockchains separate these functions into different layers.
Efficiency: By dividing tasks, modular blockchains can handle more transactions faster and more efficiently.
Flexibility: They allow for specialized layers that can be customized for different needs, leading to more innovative and diverse blockchain applications.
In essence, modular blockchains are like having a team of specialists instead of a one-size-fits-all approach, making blockchain technology more scalable, efficient, and adaptable for the future. 🚀
Data Availability Proofs: Celestia's Unique Approach 🎩
Understanding Celestia starts with data availability proofs. This concept ensures that the data needed to verify a block is accessible to everyone in the network. Thanks to erasure coding, a technique for data recovery, Celestia can handle data verification efficiently and reliably, without overwhelming the network.
🌌 Why is Celestia Important? 🌌
Revolutionizing Blockchain Scalability 🚀
Celestia marks a significant leap in solving blockchain scalability. By separating execution from consensus, it allows for more transactions without clogging the network or raising costs. This modular approach streamlines the process, making blockchain technology more efficient and user-friendly.
Scalability and Efficiency: Helps handle growing numbers of transactions without increasing costs.
Decoupling Execution from Consensus: Leads to efficient processing and reduced network congestion.
Builder Flexibility and Security 🛡️
One of Celestia's most exciting features is the flexibility it offers to builders. Developers can create their own specialized blockchain, or rollups, with unique rules and setups. These sovereign rollups leverage Celestia's robust data availability layer for security, fostering innovation and allowing communities to form independent chains.
Rollup Freedom: Encourages the creation of diverse and innovative blockchain solutions.
Community-Driven Chains: Allows communities to have their own independent blockchains without compromising security.
The Big Picture 🌍
Celestia isn't just another blockchain in the crowd. It's a foundational layer empowering builders to innovate and grow in the blockchain space. With a focus on decentralization and openness, Celestia is setting the stage for a more adaptable and affordable blockchain future.
The future is Modular. This system simply works better. In the end, Celestia may go down as one of the most important inventions in history.
🌐 What Celestia Means For You 🌐
Thousands of chains will utilize Celestia. You can own a piece of The Celestia Network by purchasing some of their coin, $TIA. This is what we call a “Pickaxe and Shovel Play.”
Remember the gold rush? Well, maybe not personally, but we’re familiar, yes? People from all over flocked to California to mine for gold. A few got rich, but most walked away empty handed.
However, do you know who profited whether or not any gold was found? The guy selling picks and shovels. Be that guy.
Celestia is a chain of chains. You don’t need to know which specific chains that launch on Celestia will be successful, when you own the underlying layer. Sell the picks and shovels!
Here’s how to buy $TIA:
Download a Keplr wallet
Buy some $ATOM on any centralized exchange.
Send the $ATOM to your Keplr wallet
Connect your wallet to Osmosis Zone
Deposit your $ATOM to Osmosis Zone
Trade from $ATOM to $TIA
Bonus! Stake $TIA and recieve yield and airdrops!
How to stake $TIA:
Go to your Celestia hodings on Osmosis Zone
Withdraw your $TIA from the Osmosis Chain to the Celestia Chain
Go to the staking section in your Keplr wallet
Select Celestia and pick a validator. Be mindful of voting power and commission!
Stake your $TIA
Earn ~15% APR and Airdrops from chains launching on Celestia!
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A little housekeeping - This is our last Friday issue, and we’ll continue just on Mondays. We’re opening up Friday for a second publication that I’m sure you’ll love. Coming soon.
Thank you for reading Make Crypto Simple.
Sincerely,
Chris Schawel
The content provided in this newsletter is for entertainment purposes only and should not be construed as financial advice. All information, including but not limited to market analysis, price predictions, and investment strategies, is purely speculative in nature. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. We are not responsible for any losses incurred as a result of the information presented in this newsletter.