This page is for information purposes only. Certain services and features may not be available in your jurisdiction.
Article

OKX Ventures Announces Investment in Celestia Labs

Hong Kong, October 16, 2023 - OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its participation in Celestia Lab's Series B funding round, which took place last year.

Celestia is the first modular blockchain network, meaning developers can use Celestia as a base layer for consensus and data functions, and then choose a virtual machine, such as Ethereum, Solana, zero-knowledge roll-ups or any other compatible smart contract execution layers, to build and deploy their own new blockchain. This contrasts with previous generations of blockchain infrastructure, in which Layer-1 chains perform consensus, data functions and execution altogether - a structure Celestia calls ‘monolithic.' Celestia is also expected to be the first blockchain network to use Data Availability Sampling (DAS) when it goes live later this year. DAS is a lighter, faster way to verify blocks without requiring nodes to download all the data in a block. By allowing nodes to verify smaller, randomly selected data within a block, Celestia intends to avoid the scalability tradeoffs which have historically held back Layer-1s to date. OKX Ventures Founder Dora Yue said: "For the sake of scalability, we see a trend towards modularity in the blockchain industry. Celestia has pioneered a modular approach that is a completely different paradigm when compared to traditional Layer-1 chains, giving developers greater customization capabilities and potentially leading blockchain infrastructure into a new era." Developers can receive several benefits by using Celestia as a base layer for deploying modular blockchains. These benefits include higher scalability, shared security for interoperability between apps, and the flexibility to choose between execution environments including Ethereum and Solana. To learn more about Celestia, click here.

Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.
© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.
Expand
Related articles
View more
View more
Sign up to receive rewards!