OKX Ventures Invests in Celestia Lab’s Series B Funding for Modular Blockchain Development

OKX Ventures, the enterprise capital subsidiary of notable cryptocurrency trade and Web3 expertise agency OKX, declared its involvement within the Sequence B funding part of Celestia Lab in the present day. Celestia stands because the pioneering modular blockchain community which permits builders to make the most of its platform as a foundational layer for consensus and knowledge processes. Submit this, builders have the freedom to pick out a digital machine, corresponding to Ethereum, Solana, or zero-knowledge roll-ups amongst different appropriate sensible contract execution layers, to create and launch their distinct blockchain networks. This notion diverges from the sooner blockchain infrastructure generations the place Layer-1 chains had been accountable for consensus, knowledge operations, and execution collectively, a setup known as ‘monolithic’ by Celestia.

Furthermore, Celestia is anticipated to be the first-ever blockchain community to combine Information Availability Sampling (DAS) upon its launch slated for later this yr. DAS embodies a extra agile and lighter technique to authenticate blocks with out necessitating nodes to obtain the whole thing of the info inside a block. By enabling nodes to validate smaller, randomly chosen knowledge segments inside a block, Celestia goals to avoid the scalability compromises which have historically impeded Layer-1s until now.

Expressing her views on the event, Dora Yue, the Founding father of OKX Ventures remarked, “Observing scalability, a shift in direction of modularity within the blockchain sector is noticeable. Celestia has spearheaded a modular strategy that presents a completely distinct paradigm compared to typical Layer-1 chains, providing builders enhanced customization choices and probably propelling blockchain infrastructure into a brand new epoch.”

Builders leveraging Celestia as a major layer for rolling out modular blockchains can reap a number of benefits together with elevated scalability, shared safety fostering interoperability amidst functions, and the flexibleness to decide on amongst execution environments like Ethereum and Solana.

Lately, as reported by Blockchain.Information, OKX Ventures underlined its continuous assist for the crypto sector by funding promising tasks like Aark Digital, dappOS, and 0xScope, as detailed in its September report. These ventures intention to deal with totally different crypto challenges, with Aark Digital specializing in enhancing decentralized trade platforms, dappOS enhancing person expertise in decentralized functions, and 0xScope democratizing knowledge entry throughout Web2 and Web3. These strategic investments by OKX Ventures are in tandem with its current backing of Celestia Lab’s modular blockchain expertise within the Sequence B funding spherical, reinforcing its dedication to fueling innovation and development within the cryptocurrency ecosystem.

Picture supply: Shutterstock



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