OKX Ventures Invests in Celestia Lab's Series B Funding for Modular Blockchain Development
OKX Ventures, the venture capital subsidiary of notable cryptocurrency exchange and Web3 technology firm OKX, declared its involvement in the Series B funding phase of Celestia Lab today. Celestia stands as the pioneering modular blockchain network which allows developers to utilize its platform as a foundational layer for consensus and data processes. Post this, developers have the liberty to select a virtual machine, such as Ethereum, Solana, or zero-knowledge roll-ups among other compatible smart contract execution layers, to create and launch their distinct blockchain networks. This notion diverges from the earlier blockchain infrastructure generations where Layer-1 chains were responsible for consensus, data operations, and execution collectively, a setup referred to as 'monolithic' by Celestia.
Moreover, Celestia is anticipated to be the first-ever blockchain network to integrate Data Availability Sampling (DAS) upon its launch slated for later this year. DAS embodies a more agile and lighter method to authenticate blocks without necessitating nodes to download the entirety of the data within a block. By enabling nodes to validate smaller, randomly chosen data segments within a block, Celestia aims to circumvent the scalability compromises that have traditionally impeded Layer-1s till now.
Expressing her views on the development, Dora Yue, the Founder of OKX Ventures remarked, «Observing scalability, a shift towards modularity in the blockchain sector is noticeable. Celestia has spearheaded a modular approach that presents a totally distinct paradigm in comparison to conventional Layer-1 chains, offering developers enhanced customization options and potentially propelling blockchain infrastructure into a new
Read more on blockchain.news
