Illuminati Round Table Call Notes:
Introducing Nick White - Chief Operating Officer for Celestia Labs & Previous Co-founder of HarmonyONE
Twitter: @nickwh8te
Celestia is building the first modular blockchain network
Modular Blockchain = new blockchain architecture in which you take the typical standard blockchain functions, and you split into components made up of layers and protocols that specialize in those functions
This allows chains to unlock all new properties - i.e., increased scalability and when needed, more flexibility - run arbitrary execution environments and trust minimized bridging
This blockchain fixes many problems and gives people more control and sovereignty
How did you get into modular blockchain?
Nick was still at Harmony in August 2020, researching bridging technology
Found a whitepaper called “Lazy ledger” - foundational paper for modular blockchains
The idea of separating each function of the blockchain made it much more straightforward, and this brings benefits
Most do scaling wrong/inefficiently - sharding = way more complex and challenging to build securely or just blocksize increase = more centralization
Celestia was previously called LazyLedger
Does modular blockchain align more with cross-chain or multi-chain narrative?
Modular blockchains unify several different narratives within blockchain infrastructure as they provide all of the benefits of all the different systems
Ethereum is a world computer model as everyone has the shared blockchain to deploy on - this comes with shared security and ease of deployment
Problem here is = you sacrifice scalability and reduced sovereignty. You're stuck under the umbrella
Cosmos Community - they would instead prioritize scalability and sovereignty and sacrifice shared security and ease of deployment. More freedom but more complex to run
Modular Blockchains can achieve all 4 - scalability, sovereignty, shared security, and ease of deployment.
You can launch your chain, but it is as easy as deploying a smart contract with these multichain benefits. The best of both worlds.
What is Data Availability (DA), and what is its value?
Think of a soccer stadium - the players on the pitch are playing the game (making the transactions/using the network), and the Fans in the stands are watching and want to make sure all the rules are followed, like no fouls, no handball which is comparable to not printing money for themselves and not violating security
DA is the instant replay or a recording of the game, so anyone can go back and watch it to make sure everything was legitimate
Referees are delegated to watch and alert everyone to any wrongdoing and watch the instant replay
Anyone can be an auditor and check the blockchain
Consensus is the idea that you must ensure all transactions are ordered objectively. This ensures everyone sees the same order of events and is immutable
Execution layer - this is where you define the rules for how you interpret transactions and determine which are valid and invalid
Modular Blockchains use Zk or optimistic roll-ups so to verify transactions, you can download and view parts as opposed to having to download it all.
Suppose you're looking to experiment with the execution layer. In that case, you’d be able to do so easily on the modular blockchain without making an entire chain, with less overhead.
What are the different types of modular blockchains?
Consensus and DA layers - the base layer for the stack, just used to post raw data and to secure the data above it and scale.
Execution layer - this is Rollups where the applications and smart contracts live.
Settlement layer - an optional component but very useful - this is where disputes are resolved, and bridging occurs here.
Why would projects build on a modular blockchain over a monolithic one?
Everyone needs blockspace to build a chain or a dApp
People want that blockspace to be secure and cheap
Celestia is a secure and cheapest way to deploy it
The overhead costs are minimized, and your work as a developer is reduced close to as easy as making a smart contact
Celestia is striving to make a blockchain as easy as making a website
Celestia’s Vision for the future?
A very engineering-centered project to solve such a technical problem - so they want to build the best blockchain infrastructure
Celestia, the base layer, and the tools to build on it are being created
By allowing people to build their blockchains, you create broader sovereignty so people can build together and create new things
Final thoughts
Keep Celestia on your radar - launching 2023
Incentivized testnet on the way for people to test on and run nodes
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