Tech
Kraken Eyes Bets on New Blockchain Technology Amid Industry Competition
CELESTIA POSSCRIPTION: Blockchain projects are rarely alone in the search for interesting new ideas. This is true of the current rush of various efforts to provide “modular” solutions to handle the various tasks of a blockchain, including “data availability” work, which involves managing growing reams of data and efficiently providing it. to users or applications when required. The Celestia data availability network dominated the headlines last week, especially with the lively TIA token launch garnering interest from cryptocurrency traders. This week, a rival project, Avail, announced a new incentive program on a test network to encourage early adopters”battle-testing our code base.” And the Near Foundation, which is hosting an annual conference in Lisbon this week for the NEAR layer 1 blockchain protocol, announced its plans offer a data availability network for the Ethereum ecosystem. Despite interest from solution providers, early use of Celestia appears to be so far modest. Christine Kim of Galaxy Research wrote in a newsletter on November 3: “Now that Celestia has launched, the true value of the protocol will come from the rollup ecosystem that will be created in the coming months and years on Celestia. The adoption of rollups built on Celestia will drive the revenue and long-term success of the protocol and ultimately prove (or disprove) the case for blockchain modularity.”