Why is Celestia so Important?
The Internet of Modular Blockchains
The crypto ecosystem is changing and evolving every day. A lot of projects come out every day, but they are not very long-term. They’re dating, they’re shining and they can’t continue because they don’t provide continuity.
However, the Celestia project, which is currently in the testnet process, is already followed by everyone, so why are so many people following this project, and what is the point that separates this project from other projects? Let’s look at together :
Nick White, previously the co-founder of Harmony Protocol and COO of Celestia, explained very clearly what the project was aiming for.
Cosmos is home to today’s app chain revolution, but it’s @CelestiaOrg Cosmos that will unlock the app chain endgame.
Reference : https://twitter.com/nickwh8te/status/1579866291271135232
Blockchains, according to Cosmos, are “Community Computers,” allowing groups of individuals to collaborate online.
To make creating blockchain software for your business simple, they created Tendermint and the Cosmos SDK.
In order to make linking chains easy for 2, they created Interchain Standards including IBC and Interchain Accounts.
For these purposes, transfer billions of dollars are currently being made on the cosmos and all projects can transfer with each other via IBC.
Problems
However, as the Celestia project thinks that these IBC transfers will become much more intense and increase, they want to find solutions to 2 problems they see now. What are these problems?
1. Launch a new chain with a high overhead
2. There is no shared security among chains
Solution
Instead of building a brand-new consensus network from start, new chains simply plug into Celestia’s current one.
Then, Celestia serves as a shared security layer between these chains, allowing for the most secure possible bridges.
With this method, Celestia offers solutions to the following 4 items and states its difference:
– Shared security
– Ease of deployment
– Sovereignty
– Scalability
It’s no coincidence that many really impressive people are interested in this project. We truly believe it will make a difference.
If you want to get more information on Celestia, you can watch the Nick White talks at the Cosmoverse Medellín — The Cosmos Ecosystem Conference 2022 You can find the link below.
Thanks for reading, I hope it was helpful.
Coinstamp
https://coinstamp.medium.com/why-is-celestia-so-important-26647fd8ebef