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When was Celestia (TIA) coin issued?
Celestia (TIA), a decentralized data layer for blockchain applications, empowers developers to build highly scalable, secure applications that store and retrieve massive data without centralized dependencies.
Dec 08, 2024 at 12:28 am
Celestia (TIA): A Decentralized Data Layer for Blockchain
Introduction
Celestia (TIA) is a Layer-1 blockchain protocol that provides a decentralized data availability layer for other blockchain applications. It enables developers to create scalable and secure applications that can store and retrieve large amounts of data without relying on centralized servers.
When Was Celestia (TIA) Coin Issued?
The Celestia (TIA) coin was issued on December 20, 2022, through a fair launch with no pre-mine or private sale. The initial issuance was 500 million TIA tokens, with subsequent issuance planned through a combination of staking rewards and protocol fees.
Steps Involved in Using Celestia (TIA)
1. Acquire TIA Tokens:
- Purchase TIA tokens from a cryptocurrency exchange.
- Stake TIA tokens to earn staking rewards and contribute to the network's security.
2. Create a Blockchain Application:
- Use the Celestia SDK to develop a blockchain application that leverages the protocol's data availability layer.
- Design applications that can store and retrieve large datasets securely and efficiently.
3. Store and Retrieve Data:
- Upload data to the Celestia network using the application you created.
- Retrieve data from the network whenever needed, ensuring its availability and integrity.
4. Pay Transaction Fees:
- Pay transaction fees in TIA tokens when interacting with the Celestia network.
- Fees cover the cost of data storage and retrieval, as well as network maintenance.
5. Contribute to the Network:
- Participate in network governance by voting on protocol upgrades and proposing changes.
- Stake TIA tokens to secure the network and earn rewards for your contribution.
Additional Information
- Consensus Mechanism: Celestia uses a novel consensus mechanism called Rollmint, which combines proof-of-stake with data availability sampling.
- Interoperability: Celestia is designed to be interoperable with other blockchain protocols, enabling data sharing and seamless application integration.
- Scalability: The protocol's layered architecture allows for horizontal scaling, supporting high transaction throughput and data storage capacity.
- Security: Celestia's data availability layer provides strong security guarantees, ensuring that data stored on the network is tamper-proof and highly reliable.
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