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Fireblocks integrates Celestia to enhance Blockchain capabilities in the Cosmos ecosystem
Fireblocks has partnered with Celestia, a modular blockchain within the Cosmos ecosystem, to improve the integration and scalability of blockchain networks. The collaboration aims to simplify blockchain development, thus making it more accessible and scalable Fire blocks.
Celestia’s modular approach
Celestia’s innovative modular approach focuses on separating consensus and data availability from execution layers. This design allows developers to create customizable blockchain applications, optimizing them for specific use cases. Using the Inter-Blockchain Communication (IBC) protocol, Celestia facilitates seamless integration between various blockchain networks within the Cosmos ecosystem. This improves the network’s ability to support a wide range of decentralized applications (dApps).
This integration is critical to expanding the operational capabilities and reach of the Cosmos ecosystem. By partnering with Fireblocks, Celestia is well positioned to advance blockchain technology, promoting inclusivity and innovation.
What Fireblock users can do with Celestia
Fireblocks users have several features available to them when interacting with Celestia:
- Custody TIA, Celestia’s native token, in their Fireblocks Vault.
- Securely transfer TIA over the Fireblocks network.
- Connect to dApps on Celestia via WalletConnect.
- Participate in TIA staking through staking partners like Figment and Kiln.
Celestia: In short
After launching on the mainnet, Celestia quickly gained traction in the blockchain space:
- It reached a market capitalization of more than $370 million overnight.
- The TIA token has seen a significant increase, with staking rewards of between 15% and 17% attracting significant interest from the community.
- The all-time high price of the platform’s token reached $20.91.
- Celestia provides data availability for 9 of the approximately 57 active Layer 2 chains on Ethereum, collectively supporting a Total Value Locked (TVL) of $898 million.
This rapid growth highlights Celestia’s potential in the decentralized finance (DeFi) landscape. The platform’s ability to provide data availability and scalability solutions has made it a crucial component of several Ethereum Layer 2 chains.
The partnership between Fireblocks and Celestia marks a significant step towards improving blockchain interoperability and usability. By leveraging Celestia’s modular architecture and Fireblocks’ secure infrastructure, developers and users can expect a more robust and versatile blockchain ecosystem.
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