The Celestia project attracted $ 55 million to launch “modular blockchains”

The CELESTIA FOUNDATION standing behind the development of the project of the same name attracted $ 55 million in the round under the leadership of the Bain Capital Crypto and Polychain Capital.

Among the participants are: Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, Jump Crypto and several business angels, including Srinasana Balances and Erica.

Celestia provides customers with modular architecture for the deployment and scaling of blockchains.

“These specialized networks are less limited and divided by monolithic chains into flexible components, promising large scale, safety and decentralization,” the statement said.

According to the co-founder of Celestia, Mustafa al-Bassama, modular blockchains will become “determining the next decade of Web3 innovations”.

“Earlier, the crypto industry was placed in narrow frames due to the endless stream of the new L1-platforms of smart contracts, each of which sacrificed decentralization and safety to ensure cheaper transactions. Web3 cannot be scale within the limited limits of the monolithic structure, ”he said.

In May, the platform launched the dough mamaki and introduced the API for developers of modular blockchains.

Today, Celestia supports 26 projects Finland Sells confiscated under the Modular Fellows program, which provides for mentoring. The created solutions relate to various aspects of the crypto industry, including technologies based on Rollups, Defi applications and much more.

Recall that the team of the Shardeum blockchain startup focused on a cartridge-based cartridge has attracted $ 18.2 million sowing investments when evaluating a project of $ 199 million.

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