Le Lézard
Classified in: Science and technology, Business
Subject: VEN

OKX Ventures Announces Investment in Celestia Labs


HONG KONG, Oct. 16, 2023 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its participation in Celestia Lab's Series B funding round.

Celestia is the first modular blockchain network, meaning developers can use Celestia as a base layer for consensus and data functions, and then choose a virtual machine, such as Ethereum, Solana, zero-knowledge roll-ups or any other compatible smart contract execution layers, to build and deploy their own new blockchain. This contrasts with previous generations of blockchain infrastructure, in which Layer-1 chains perform consensus, data functions and execution altogether - a structure Celestia calls 'monolithic.'

Celestia is also expected to be the first blockchain network to use Data Availability Sampling (DAS) when it goes live later this year. DAS is a lighter, faster way to verify blocks without requiring nodes to download all the data in a block. By allowing nodes to verify smaller, randomly selected data within a block, Celestia intends to avoid the scalability tradeoffs which have historically held back Layer-1s to date.

OKX Ventures Founder Dora Yue said: "For the sake of scalability, we see a trend towards modularity in the blockchain industry. Celestia has pioneered a modular approach that is a completely different paradigm when compared to traditional Layer-1 chains, giving developers greater customization capabilities and potentially leading blockchain infrastructure into a new era."

Developers can receive several benefits by using Celestia as a base layer for deploying modular blockchains. These benefits include higher scalability, shared security for interoperability between apps, and the flexibility to choose between execution environments including Ethereum and Solana.

To learn more about Celestia, click here.

For further information, please contact: [email protected]

About OKX Ventures

OKX Ventures is the investment arm of leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD 100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

About OKX

OKX is a world-leading technology company building the future of Web3. Known as one of the fastest and most reliable crypto trading platforms for traders everywhere, OKX's crypto exchange is the second largest globally by trading volume and is trusted by more than 50 million users.

OKX's leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.

OKX partners with a number of the world's top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX visit: okx.com

Disclaimer

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

SOURCE OKX Ventures


These press releases may also interest you

at 14:33
An an outcome of the Health Leaders Forum (HLF) organised during Abu Dhabi Global Healthcare Week (ADGHW), the Department of Health ? Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, unveiled a Declaration of Principles on...

at 14:33
Paessler AG, the monitoring experts, announced today that CRN®, a brand of The Channel Company, has recognized two of its North American channel leaders, Breanne Smiley and Danielle Travis, on its 2024 Women of the Channel list. Every year, CRN®...

at 14:14
Ochapowace First Nation's economic development group, Atoskewin Business Development Corporation has signed an MOU and is now proudly moving forward in a Limited Partnership with Eaglesledge Energy Ltd, in a unique energy project that will bring...

at 14:00
Today, the subsidiary of MiTAC Holdings Corp.(TSE:3706), MiTAC Computing Technology and its server brand TYAN®, the leading manufacturer in server platform design worldwide, bring their new server platforms to the ISC 2024 event, booth #B01 in...

at 14:00
Waters Corporation announced that Udit Batra Ph.D., Waters President and Chief Executive Officer, will participate in a fireside chat at the Jefferies 2024 Healthcare Conference on Wednesday, June 5th, 2024 at 9:30AM Eastern Time. A live webcast of...

at 13:59
Quebecor Inc. ("Quebecor") , today announced that it has issued a redemption notice to holders of its currently outstanding 4.0% convertible unsecured subordinated debentures due June 26, 2024 (the "Debentures"). As set out in the redemption notice,...



News published on and distributed by: