The Rise of Celestia - What is TIA?
A charts update - the returns of crypto assets for the last 6 months.
SOL had its run in December which can be seen there, but the talk of the industry right now is TTIA - Celestia, which kind of came out of nowhere since people have been talking about it very little, even here. That's because it's a very new project that only launched its mainnet in October 31st of 2023 so there hasn't been much time for it to make a name for itself yet to the general public. (Though if you were there from the beginning, I'm sure you're pretty happy with the returns now.)
What is TIA, exactly? TIA advertises itself as the "modular blockchain" that can help with interoperability and scaling. (Yes, another one.) Looking at the charts as a whole, I think that this is a sign that investors in the space are taking the scaling idea much more seriously now. But as with most crypto hype cycles - the gains start to sag if the product itself doesn't deliver after the initial marketing blitz.
I know a few people who went there since that's where the money is at the moment but I do see a few issues with the project that might make its long-term viability a challenge.
- The project markets itself as "good for developers" but makes no mention of the types of products you can build on there, which gets me thinking that it's currently using VC capital to attract developers but has no actual users on board yet. As a brand new project this is maybe understandable but it's somewhat concerning that there doesn't seem to be a plan for that, at least publicly.
- It raised money from FTX Ventures among others - which tells us something about their culture and ability to vet partners and money.
- It is directly competing with Chainlink (which is also doing very well) and hundreds of others and doesn't seem to have a clear assertion of what makes this project different from the others. For projects like these, maintaining good relationships with lots of groups is probably the most important thing, and LINK has an advantage with this since they've been at it for much longer.
All in all, TIA seems like a crypto project "by developers, for developers" to me right now and the website itself reads like that, even on the surface. Crypto itself is still waiting for that "killer app" that will bring in mainstream users - but I think we're still ways away from seeing that happen. But we'll see - maybe they have something up their sleeve that will encourage the folks from the ICO to stay on board.
coindesk.com/business/2022/10/19/crypto-unicorn-celestia-labs-raises-55m-to-build-modular-blockchain-network/
SOL had its run in December which can be seen there, but the talk of the industry right now is TTIA - Celestia, which kind of came out of nowhere since people have been talking about it very little, even here. That's because it's a very new project that only launched its mainnet in October 31st of 2023 so there hasn't been much time for it to make a name for itself yet to the general public. (Though if you were there from the beginning, I'm sure you're pretty happy with the returns now.)What is TIA, exactly? TIA advertises itself as the "modular blockchain" that can help with interoperability and scaling. (Yes, another one.) Looking at the charts as a whole, I think that this is a sign that investors in the space are taking the scaling idea much more seriously now. But as with most crypto hype cycles - the gains start to sag if the product itself doesn't deliver after the initial marketing blitz.
I know a few people who went there since that's where the money is at the moment but I do see a few issues with the project that might make its long-term viability a challenge.
- The project markets itself as "good for developers" but makes no mention of the types of products you can build on there, which gets me thinking that it's currently using VC capital to attract developers but has no actual users on board yet. As a brand new project this is maybe understandable but it's somewhat concerning that there doesn't seem to be a plan for that, at least publicly.
- It raised money from FTX Ventures among others - which tells us something about their culture and ability to vet partners and money.
- It is directly competing with Chainlink (which is also doing very well) and hundreds of others and doesn't seem to have a clear assertion of what makes this project different from the others. For projects like these, maintaining good relationships with lots of groups is probably the most important thing, and LINK has an advantage with this since they've been at it for much longer.
All in all, TIA seems like a crypto project "by developers, for developers" to me right now and the website itself reads like that, even on the surface. Crypto itself is still waiting for that "killer app" that will bring in mainstream users - but I think we're still ways away from seeing that happen. But we'll see - maybe they have something up their sleeve that will encourage the folks from the ICO to stay on board.
coindesk.com/business/2022/10/19/crypto-unicorn-celestia-labs-raises-55m-to-build-modular-blockchain-network/
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