Celestia Plans For 1 GB Blocks For Scaling: Why Are TIA Holders Worried?
13 Septembre 2024 - 2:00AM
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Celestia, a top network and one of the few modular blockchains, is
building. Less than a year after transiting to the mainnet after
months of testing, the platform is taking bold steps to scale the
base layer and further boost data availability. Celestia Plans For
1 GB Blocks For Scaling In a recent announcement, the platform’s
core developers said it was preparing for the next phase, which
will see the blockchain introduce 1 GB blocks. The decision to
unleash 1 GB blocks will be a major move to scale on-chain and push
throughput even higher. Related Reading: Dogecoin Vs Shiba Inu Vs
Pepe: How Do The Top Memecoins Compare In Investor Profits? It will
only make sense. Celestia uses a modular architecture that allows
the network to scale. Unlike Ethereum, which is struggling to scale
on-chain and heavily reliant on off-chain platforms like Base and
StarkNet, Celestia remains scalable and flexible, circumventing
challenges legacy networks encounter. With 1GB blocks and scaling
increased, Celestia said developers would be free to build whatever
they wish. Exemplifying progress made by modern chains, developers
are not confined to deploying smart contracts using a single
programming language like struggles to scale on-chain, which is
Solidity or Rust. Instead, they can choose what they are
comfortable with. To achieve the 1 GB blocks, Celestia plans to
introduce innovations such as content-addressable mempools and
compact blocks. Moreover, plans will be made to deploy internally
sharding nodes and improve its data availability sampling protocol.
TIA Down 80%, Will The Supply Uptick Fast-Track The Dump?
Impressive as this could be, TIA, the native currency, has been on
a free fall. Price data shows that bears have been in control after
prices soared to as high as $21 in February, forcing the coin down
by over 80%. At spot rates, the coin remains under intense selling
pressure. If anything, sellers could unwind all progress made after
listing on Binance in early November. Related Reading: XRP Price
Stalls in Range: Will a Breakout Come Soon? The immediate concern
is the upcoming token unlock set for October 30. Usually, token
unlocks are considered bearish due to the expected spike in supply.
Today, the platform will release 175 million TIA or 16.5% of the
total supply. Afterward, a daily release of 1 million TIA will be
from November 1. By next year, Token Unlocks, a monitoring
platform, projects that TIA’s supply will be up by nearly 4X. If
demand remains low, as is currently the case, prices could plunge
below November 2023 lows due to the deluge in supply. Feature image
from Shutterstock, chart from TradingView
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