TL;DR
Everyone in the crypto community wants to know, “What is Celestia Network? Launching earlier this year with a controversial Airdrop that only the biggest whales on the block received. It’s time to discuss the newest “modular” network on the scene. Expanding on the coverage of Celestia from March’s Altcoin Gems Report. Can TIA succeed after promising an Airdrop to over half a million wallets and failing to hold that promise true? That’s exactly what you’ll find out today in the latest Wealth Mastery Altcoin Review.
First, let me get everyone up to date on Celestia.
Mentioned earlier this year and prior to the rollout of its mainnet, I named Celestia as one of the three most promising projects of Q1 2024.
There was a lot of marketing making its way around the campfire prior to Celestia’s launch comparing its potential to that of Solana and other higher-quality networks. But, as time always proves, Celestia has nowhere near the capabilities or potential of Solana.
While it still has what anyone would consider an all-star team of developers on the roster, Celestia is already falling flat on its face in this saturated marketplace.
Its initial $1 Billion evaluation pulled many investors into the TIA marketplace. However, easily identified limitations and underwhelming technology have many wishing it didn’t.
So strap yourselves in and get ready for the dishonest dumpster fire that is Celestia Network.
What is Celestia Network?
Celestia bills itself as a scalable network that goes against the grain of standard protocols, citing a modular design that enables limitless scalability for blockchain developers. This means that as more applications utilize Celestia, the better, stronger, and faster it becomes.
Whereas Ethereum uses C++ and Solidity as the required code for deployment, Celestia allows developers to launch their own environments and use whatever code they like to design products. This removes the limitations of being required to use a specific language depending on what network a developer interacts with.
Initially, Celestia launched this idea under the name LazyLedger. Which, in my opinion, is a much more fitting name for the project because after two years with no real work to show for, a rebrand was rolled out.
That’s because Celestia claims to be a Modular design that throws away the Monolithic format of network operations. But, it’s in fact a series of Nodes operating on the Amazon Web Services IPFS system.
This means that no matter how developers choose to design products for the Celestia protocol it will always be constrained by the limitations of the AWS Cloud. Data is never truly decentralized or secured on Celestia when its foundation relies on the good graces of Amazon.
How Does Celestia “Not” Work?
Instead of separating a Monolithic design from a Modular one. I’d like you to imagine the Modular image to the right is actually sitting on top of the Mono image on the left. That’s how Celestia really works.
While Celestia does separate each layer into different functions, all of those functions are streamlined into a single environment, Interplanetary File Systems.
This means that Celestia is claiming to build the future of blockchain environments while using the same underlying…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
