Celestia Labs attracted $55 million to create a modular blockchain – Bits Media

Celestia Labs, standing for the development of the CELESTIA blockchain, announced the attraction $55 Milln in the round of financing, which was headed by the venture companies PolyChain Capital and Bain Capital Crypto.

In addition, In the united round of the series A and B, such companies took part, как Coinbase Ventures, Jump Crypto, FTX Ventures, Placeholder, Galaxy и Delphi Digital, as well as several other venture investors. Thanks to the funds collected, the company's assessment exceeded $1 billion.

Celestia Labs was founded in 2019 year as a project, developing modular blockchain architecture, which simplifies the scaling and deployment of the network. The developers are sure, that without a modular structure, many inflexible ecosystems, Working with smart contracts, doomed to sacrifice their safety and decentralization.

“In recent years, the crypto industry has become a place of accumulation of a huge many inflexible smart contract platforms, which subsequently donated their decentralization and security, to ensure lower transactions commissions. We count, that Web3 cannot be scaled within the non -bending structure ", -said co-founder of Celestia Labs Mustafa al-bassam (Mustafa Al-Bassam).

Modular architecture allows you to divide the basic functions of the blockchain - calculations, consensus and data execution - on separate segments, which ultimately helps to better control the entire system, not sacrificing its individual elements.

The previously decentralized cryptocurrency exchange Uniswap announced the attraction $165 Milln during a closed round of financing, which was headed by Polychain Capital, Paradigm, Andreessen Horowitz, Variant and others.