We are thrilled to share that (TIA) is now listed on Coinhako!

What are Celestial and TIA?

Celestia, inspired by Mustafa Al-Bassam's LazyLedger whitepaper, is the first data availability blockchain network. It uses a modular structure, separating data availability from transaction execution to improve scalability. Celestia focuses solely on ensuring transaction data is accessible and verifiable. Rollups and layer 2 blockchains can connect to Celestia to publish their transaction data, while execution occurs elsewhere.

TIA coin serves three main purposes in the Celestia network:

1. Staking for network security and governance participation
2.  Payment for Celestia's data availability services
3. Gas fee token for Celestia-based rollups

There is a total supply of 1,055,452,055 TIA and TIA has traded for US $$20.91 at its peak. 

How does Celestial work?

For the Celestia network to operate, it relies on a few key pieces:

Data Availability Proofs

Traditional blockchains require full nodes to download all network data for transaction validation, which is resource-intensive. Light nodes can download block headers but can't validate transactions, making them easier to run but less secure. Celestia addresses this with data availability proofs, allowing light nodes to verify block data existence without downloading it all. This involves erasure coding and data availability sampling.

Erasure Coding 

Erasure coding expands block data by adding error correction code. For example, a 1MB block becomes 2MB with 1MB of erasure code added. This allows full block recovery if at least 50% of data remains. To sneak fraudulent transactions, a bad actor must delete over 50% of block data. Light nodes then verify data availability.

Data Availability Sampling

Data availability sampling involves light nodes downloading random samples from erasure-coded blocks. Failed downloads indicate omitted data, leading to block rejection. After seven sampling rounds, light nodes achieve 99% confidence that no block data is missing.

Why does Celestial stand out?

Celestia separates transaction data availability from execution and settlement. It allows developers to deploy custom blockchains and applications with unique execution and settlement terms. By reducing overhead, Celestia simplifies blockchain and rollup deployment. Data availability sampling minimizes the resources needed to run a node, making large-scale data storage and processing more efficient.

Regardless of their settlement network, it is also compatible with any layer 2 blockchain or rollup. It works with various developer tools, including Polygon CDK and Optimism Stack. Layer 2 solutions can publish transactions on Celestia and submit proof of data availability. These proofs verify data existence without revealing content, enabling indirect communication between connected chains.

What can you do with TIA on Coinhako?

TIA will be available for users to trade across all swap pairs on Coinhako.

To gain access to any of these trading pairs, you can either:

1. Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
2. Purchase TIA instantly with Visa / Mastercard 

Please note that the sending and receiving of TIA will not be available for this release.

Risk Warning on Digital Payment Token Services

Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

1. Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
4. You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.

Visit: Coinhako.com/risk-disclosure for more information.