By
Godfrey Benjamin
April 26th, 2024
TIA’s price skyrocketed to a record high of $13.1, followed by a subsequent correction. Presently, the price has found support around $10.8 and has the potential to continue its upward trajectory, which has been evident since its launch.
Polygon has revealed its intention to incorporate Celestia, its decentralized data availability infrastructure, into the Polygon Chain Development Kit – an assortment of modular blockchain development tools. This integration will enable developers to construct new layer 2 networks using Polygon’s software to readily access Celestia’s cost-effective data handling capabilities.
Through offloading the storage and verification of network data onto Celestia, the chains launched using Polygon’s development kit stand to benefit from significant cost reductions, in contrast to relying on the Ethereum mainnet for these functionalities. Since its noteworthy launch on the mainnet in October, Celestia has established itself as an economical data availability solution, particularly for emerging networks.
Polygon co-founder Sandeep Nailwal has compared the potential impact of integrating Celestia to the revolutionary arrival of broadband internet. He envisions Celestia simplifying data processes to the point where deploying a basic smart contract becomes as easy as launching a website. This integration is particularly significant as Ethereum continues to work on its own native data availability improvements. Despite the ongoing congestion on the layer 1 chain, optimistic rollups are still reliant on Ethereum’s infrastructure. He stated:
“This is the broadband moment for Web3. The ability to launch a high-throughput ZK-powered Ethereum layer 2 as easily as deploying a smart contract will do for blockchain adoption what high-speed fiber did for Web2 applications.”
In response to the lack of a readily available solution on Ethereum, several independent data availability providers have emerged, such as Celestia, Eigenlayer’s EigenDA, and Avail. These providers offer tailored options specifically designed for layer 2 networks. While Polygon currently relies on Ethereum to meet its data needs for existing chains, the integration of Celestia does not rule out the possibility of supporting other solutions in the future.
Polygon’s flexible development kit allows developers to build both rollups and validium-based chains, offering them the freedom to choose the most suitable data availability approach. By selecting Celestia now and keeping the option open to integrate additional providers later on, Polygon ensures adaptability to evolving requirements.
TIA Token Surges on Polygon’s Plan Announcement
Before the announcement, investors were already anticipating positive news, leading to a surge in TIA’s price. This anticipation was fueled by a tweet from Polygon, hinting at the possibility of incorporating Celestia’s solution. After the news was released, TIA’s price skyrocketed to a record high of $13.1 on the same day, followed by a subsequent correction. Presently, the price has found support around $10.8 and has the potential to continue its upward trajectory, which has been evident since its launch.
Since its introduction, TIA has experienced an impressive increase of over 400%, with a remarkable surge of over 100% in the past month alone. According to data from CoinMarketCap, TIA already boasts a total market capitalization exceeding $1.5 billion and a daily trading volume surpassing $550 million. This remarkable journey reflects the investors’ confidence in the token and its ecosystem.
