Celestia, the world’s first data availability blockchain network, launched its mainnet on October 31, 2023. During this launch, the project also released over $300 million worth of cryptocurrencies called TIA. This move proved a major success among crypto investors, with TIA’s price surging over 500% since then.

Continuing its growth trajectory, Celestia integrated with Polygon’s chain development kit in December 2023, bringing its data availability solution to thousands of chains and developers in the Polygon (MATIC) ecosystem.

Let’s learn about Celestia (TIA) and how you can buy TIA tokens at WazirX.

What is Celestia?

Celestia represents a novel approach to blockchain networks, introducing modularity to their design and functionality. Unlike conventional blockchains that integrate consensus, data availability, and execution into a single layer, Celestia segregates these functions, offering a more adaptable and scalable infrastructure.

This modular structure positions Celestia primarily as a decentralized data availability layer, ensuring accessibility and verifiability of block data for all users. Through this separation, Celestia empowers developers to construct custom execution environments or ‘rollups,’ facilitating various applications with specific governance and scalability needs.

Conventional blockchains often struggle with the trilemma of decentralization, scalability, and security. Celestia tackles these challenges by furnishing a foundational layer focused solely on consensus and data availability. This approach alleviates the burden on developers to construct secure and scalable networks from scratch, fostering easier interoperability between disparate blockchains.

With its streamlined development process and scalable infrastructure, Celestia aims to foster innovation and the creation of various Decentralized Applications (dApps).

How Does Celestia Work?

Celestia pioneers the world’s first data availability network, addressing a fundamental question: What is data availability, and what problem does Celestia aim to solve?

About Data Availability

Data availability ensures that any participant in a network can access transaction data at any given time to authenticate a block. It serves as a security measure that enables the inspection of blockchain ledgers and the validation of transactions.

Challenges with Traditional Nodes

Traditional nodes must download complete transaction data to verify blocks autonomously, which poses a significant scalability hurdle. As blockchain data grows, this becomes increasingly challenging for regular nodes, limiting access to only full nodes capable of downloading the entire blockchain data.

The Data Availability Sampling (DAS) Technology

Celestia tackles this challenge through data availability sampling (DAS) technology.

Nodes incapable of downloading the entire blockchain data (referred to as light nodes) leverage DAS to sample a small portion of block data for verification upon publication.

Light nodes engage in multiple rounds of random sampling, progressively increasing confidence in data availability. Upon reaching a predetermined confidence threshold (e.g., 99%), the light node acknowledges the availability of block data.

DAS technology, as employed by Celestia, offers a solution to scaling challenges without compromising security. This is particularly pertinent to Ethereum’s scaling roadmap, where L2 rollups rely on L1 layer settlement through transaction summaries or proofs. Ensuring data availability prevents dishonest behavior by rollup operators if transaction data is inaccessible for verification.

TIA Token and Tokenomics

Introduced alongside the mainnet launch in October 2023, Celestia unveiled its native token, TIA, priced around $2.

TIA serves three primary functions within the Celestia ecosystem. As a proof-of-stake (PoS) network, TIA is pivotal in maintaining network security. Token holders can stake TIA to engage in Celestia’s consensus mechanism and governance. Moreover, developers can utilize TIA to access Celestia’s data availability services, while those deploying Celestia-based rollups can employ TIA as a gas fee token.

With a total supply of one billion tokens, approximately 170 million TIA are presently in circulation. Notably, around 6% of the total supply (roughly 60 million TIA) was distributed to developers, researchers, and key community contributors through airdrops. The token follows a deflationary model, resulting in a gradual reduction in its overall supply over time.

In the following section, we will see the 5 easy steps for buying Celestia (TIA) tokens in India.

Buying Celestia (TIA) in India

Below are a few simple steps you can follow and buy the TIA token in India with WazirX, India’s most trusted and widely used crypto exchange.

The best way to buy TIA tokens is by depositing INR in your WazirX wallet. Alternatively, you can also buy TIA using P2P trade; to get answers to all your queries related to the P2P trade, click here!

Step 1 – Sign-Up on the WazirX platform

To begin buying and selling TIA, you must sign up for an account on the WazirX platform. If you already have an account, you can log in directly.

For your reference, here’s how you can open an account on WazirX.

Step 2 – Set up your account security by verifying your email address.

This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.

Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.

Step 3 – Complete the KYC process.

After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.

Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.

Step 4 – Add funds to your WazirX wallet.

To add funds, simply go to your account on the WazirX app or web. Click on “Funds” and then on “Deposit INR.”

You can deposit INR using any mode (NEFT/ RTGS/ IMPS).

You can also buy TIA through P2P to the WazirX wallet. The TIA will act as funds to help you buy your favorite cryptos.

Step 5 – Finally, buy TIA on WazirX.

You can now easily purchase TIA tokens using INR Deposits. In the case of P2P trade, check TIA to USDT here.

After logging in to your WazirX account, you can choose INR from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.

Click “Buy” after entering the amount and checking the total INR amount to be paid.

Your order will be placed according to the price you have input. And, in the case of P2P trade, a seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.

The order might take a few minutes to complete, but as soon as it is executed, you will receive the TIA Tokens you purchased in your WazirX wallet.

Happy Trading!

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.