- TIA became the most searched crypto asset on CoinMarketCap.
- In the future, it would become an important part of the Celestia ecosystem.
The long-awaited Celestia [TIA] blockchain went live recently on Mainnet, becoming the first modular data availability network of its kind. Along with the launch, the native token TIA was broadcast to developers, researchers and other eligible participants as planned.
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High demand for TIA
The launch was well received in the market. As of this writing, TIA exchanged hands at $2.24, up 6.63% in the last 24 hours, according to CoinMarketCap facts.
Furthermore, it became the most searched crypto asset on CoinMarketCap, which is indicative of the hype surrounding the token.
The airdrop, also called the Genesis Drop, released 6% of the total supply into circulation.
Understanding the technology behind Celestia
Data availability refers to the ability of users to download data from a blockchain at any time. It is a crucial security feature, allowing verification of transactions in a distributed ledger.
However, as the network grows, these options become significantly limited. This is one of the main factors hindering the scalability of networks like Ethereum [ETH] and Solana [SOL].
Enter modular networks.
Unlike traditional networks that concentrate everything on a single chain, modular networks split the system’s components into smaller, more manageable pieces. These modular layers perform specific core functions such as execution, settlement, and data availability.
Celestia is the modular data availability layer, which focuses solely on making the data available for transactions. They allow users to verify very large blocks using a technology called data availability sampling. This eliminates the need to download the block, allowing for greater efficiency.
How much are 1,10,100 TIAs worth today?
As for TIA, the intention was that it would act as the governance sign of the ecosystem, allowing participation in network consensus.
However, the main use case was that developers who wanted to access Celestia for its data availability feature had to pay the fees in TIA.