Day 1 staking and custody support for Celestia mainnet
October 31, 2023
Coinbase is pleased to announce our Day 1 staking support for Celestia, the first modular blockchain network, alongside custody support from Coinbase Prime. Celestia has cultivated a vibrant ecosystem that is primed for engagement starting on Day 1. Celestia’s design choices for a modular blockchain network promotes scalability by separating execution from consensus, integrating data availability sampling, and providing a framework for developers to set up blockchains/rollups with a similar ease as deploying smart contracts.
Understanding Celestia's vision
To onboard the next billion users to crypto, blockchains need to scale and provide low cost transactions for their users. Most blockchains are monolithic and historically focused on enhancing the base layer to solve the scalability problem, but Celestia focused on making its blockchain network more modular. Modularity solves two blockchain scaling problems: state bloat and the data availability problem. State bloat occurs when the information on transaction execution grows making it more expensive to run a full node, which Celestia solves without sacrificing decentralization by separating execution from consensus and allowing developers to create sovereign rollups. The data availability problem is confirming a transaction’s absence without downloading all the transactions, which Celestia solves by introducing data availability sampling, where light nodes conduct multiple rounds of data sampling until they reach a specified threshold of confidence that the data is available. Read more about how this works in our post on modular blockchains.
Securely stake Celestia with Coinbase Cloud’s non-custodial validators
Coinbase Cloud provides reliable and secure staking infrastructure for custodians, fintechs, and wallets looking to let their end users earn rewards for staking Celestia. In addition to removing the complexities of managing nodes and network upgrades, Cloud’s staking infrastructure can be integrated with preferred custody solutions, or simply configured to let users self-custody their tokens. It offers a secure path for companies and dapps to enable their end users to earn secure, reliable rewards directly from the protocol for their efforts.
Work with a trusted partner with over a decade of experience serving custodians, exchanges, fintechs, dapps, self custody wallets, and liquid staking protocols to address their complex and varied needs. Our longevity in the industry is a testament to the quality of our staking products and the prudent perspective we take in regards to risk management.
Institutional-grade custody with Coinbase Prime from Day 1
We're also excited to roll out support for custody of TIA from Day 1 of mainnet. Institutions looking to custody their tokens can do so with Coinbase Prime and hold their digital assets with a secure and trusted partner.
Looking ahead
Coinbase Cloud is happy to support the growing ecosystem of protocol teams like Celestia. We are committed to supporting Celestia’s vision of a decentralized, scalable, and secure blockchain ecosystem. We’re excited to watch their ecosystem launch and grow in 2023 and beyond.
For token holders looking to stake Celestia from self-custody, see our delegation guide or contact our team. Dive deeper into the Celestia ecosystem here, and for developers eager to build on Celestia, check out their documentation.
Disclaimer
This document and the information contained herein is not a recommendation or endorsement of any digital asset, protocol, network, or project. However, Coinbase may have, or may in the future have, a significant financial interest in, and may receive compensation for services related to one or more of the digital assets, protocols, networks, entities, projects, and/or ventures discussed herein. The risk of loss in cryptocurrency, including staking, can be substantial and nothing herein is intended to be a guarantee against the possibility of loss.This document and the content contained herein are based on information which is believed to be reliable and has been obtained from sources believed to be reliable, but Coinbase makes no representation or warranty, express, or implied, as to the fairness, accuracy, adequacy, reasonableness, or completeness of such information, and, without limiting the foregoing or anything else in this disclaimer, all information provided herein is subject to modification by the underlying protocol network. Any use of Coinbase’s services may be contingent on completion of Coinbase’s onboarding process and is Coinbase’s sole discretion, including entrance into applicable legal documentation and will be, at all times, subject to and governed by Coinbase’s policies, including without limitation, its terms of service and privacy policy, as may be amended from time to time.
