Celestia (TIA) Hits New ATH Following Collaboration Announcement with Polygon CDK
In recent times, Celestia has emerged as a pivotal player in the blockchain sphere, stirring excitement even before officially announcing its integration with Polygon’s Chain Development Kit (CDK). This collaboration marks a significant milestone as Celestia’s leading data availability solution dovetails with Polygon CDK, an open-source codebase empowering zero knowledge-powered Layer 2 chains for Ethereum.
The amalgamation of Celestia’s data availability layer with Polygon CDK’s zero knowledge-powered interoperability and unified liquidity is poised to revolutionize the launch of high-throughput Layer 2 chains on Ethereum. Set for an early debut next year, Celestia’s data availability solution will be seamlessly available to developers, serving as a readily pluggable component within Polygon CDK’s suite of customization options.
Celestia underneath ✨
The combination of Polygon CDK’s native ZK interoperability and unified liquidity with Celestia makes deploying a high-throughput Ethereum L2 as easy as deploying a smart contract. https://t.co/clrLC43JJI
— Celestia (@CelestiaOrg) December 12, 2023
Polygon co-founder Sandeep Nailwal articulated the impact succinctly, stating, “This is the broadband moment for Web3.” Drawing parallels to the advent of high-speed fiber for Web2 applications, Nailwal emphasized that the simplicity of launching a high-throughput ZK-powered Ethereum Layer 2 will significantly enhance blockchain adoption.
Already demonstrating its prowess, Celestia’s data availability layer has slashed Ethereum L2 transaction fees for end users by over 100x. As adoption burgeons, its scalability is bolstered through data availability sampling (DAS), a mechanism open for contribution by any user running a Celestia light node on a Polygon CDK chain.
Polygon CDK’s user-friendly interface has empowered developers to conceptualize and deploy ZK L2s on Ethereum, earning adoption from projects like OKX, Astar, Canto, Gnosis Pay, Palm, and IDEX. Moreover, the future envisions Polygon CDK-deployed chains intertwining within a broader web of ZK-powered L2s, fostering interoperability and unity in the Polygon CDK ecosystem.
Post the partnership announcement, the price of TIA (Celestia’s token) continued its robust upward trajectory, peaking at a new high of $13.12. However, it’s currently readjusting around the $11.5 mark. Since its listing on Binance six weeks ago, TIA has surged by over 470%, yielding a fully diluted valuation of $12.1 billion, with only 15% of the total token supply in circulation, as per CoinMarketCap data.
The primary differentiator between Celestia and traditional layer-1 blockchains like Ethereum and Solana lies in its developmental trajectory as a modular network. In October 2022, Celestia Labs triumphantly raised $55 million, propelling its valuation to over $1 billion.
This integration not only signifies a leap forward in blockchain scalability but also underscores the burgeoning potential of modular, interoperable networks in revolutionizing the blockchain landscape. Celestia’s partnership with Polygon CDK sets the stage for a transformative era in blockchain development, promising greater efficiency, scalability, and accessibility for the broader community of developers and users alike.
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