Among the latest news within the crypto industry, Payy Network has revealed that it will use Celestia technologies to improve its scalability. This collaboration is an important milestone towards the formation of a highly efficient and decentralized payment system and integrates Celestia’s modular blockchain architecture to improve data availability and capacity of Payy’s zk-rollup-based system.
1/
Pay with @CelestiaOrg underneath ✨we are upgrading Payy Network to scale with @CelestiaOrg as a permissionless layer for high-throughput data availability. pic.twitter.com/gjPKLeeVW4
— Payy (@payy_link) October 4, 2024
Payy Network: A Vision for Decentralized Payments
Payy Network is developing a next-generation stablecoin payment system and aims to become the first Self Sovereign Bank. Using the zk-validium rollup, which keeps updated transaction data from the blockchains for efficiency, Payy supports its fast and cheap transaction speed without sacrificing security. Nevertheless, there are some problems with zk-validium combinations, especially with data availability (DA). This is where Celestia’s role comes into the picture. With the integration with Celestia, Payy can protect itself and other nodes from frozen validators, opening the way to better scalability and more stable decentralized applications on the network.
Celestia: Breaking the Barriers of Blockchain Scalability
For the availability of blockchain data, Celestia brings a special solution that is different from all other blockchains. It organizes itself in a modular way, separating execution, consensus and data availability to achieve higher speed. Recently, Celestia shared its roadmap on how it plans to increase block size up to 1GB to improve transactions per second (TPS), which will surpass Visa’s TPS rate of 24,000. While Payy is built to support the payment stack of several million users, this level of scalability will foster entirely new categories of applications, such as fully on-chain games and verifiable web apps.
What the partnership means for developers and users
The move to a decentralized data availability layer allows the Payy Network to provide expanded capabilities to developers looking to build on Celestia. Celestia’s data availability sampling technology allows users to perform an activity with minimal resource usage using lightweight nodes. This allows the network to process a large number of transactions while striving for efficiency and high security. Consumers will be able to run their DApp on environments with higher throughput than before, which will be more complex and faster.
In conclusion, Payy Network’s integration with Celestia represents a leap forward in the scalability of blockchain and decentralized finance (DeFi). When it integrates, the two projects are poised to overhaul existing capabilities related to blockchain-based payments and decentralized applications.