Ginger Upgrade Boosts Celestia by 200%: Is TIA Coin Set for New ATH?

Key Takeaways:

• Celestia's Ginger Upgrade promises a 200% increase in transaction speeds by halving block intervals from 12 to 6 seconds.
• Currently, TIA Coin is priced at $5.92, having experienced a 2.93% decline in the last 24 hours.
• Traders should expect fluctuations in TIA's price in the coming days, with potential stability before trends emerge.

The blockchain space has reached a period where speed is crucial, and multiple networks are striving to improve their transaction speeds without jeopardizing the most important thing: blockchain security.

Celestia (TIA), the world's first modular blockchain network, has unveiled its latest Ginger Upgrade, which will revolutionize transaction times on the platform.

Why Ginger Upgrade Is Crucial for Celestia

An official statement published on October 24 reveals that Ginger introduces “The Doubling,” which the team describes as an immediate 2x boost to Celestia's data availability throughput.

In version 3, this is accomplished by reducing block intervals from 12 to 6 seconds, enhancing user experience with quicker transaction finality times.

12s ⏩ 6s block time

Celestia’s v3 upgrade, Ginger🫚 activates in 12 days on Arabica testnet.

Ginger instantly doubles throughput and cuts time-to-finality in half, enabling the community to make a near-term upgrade to 1.33MB/s throughput (then, 🦣).https://t.co/0Vp5aUuGK9

— Celestia 🦣 (@CelestiaOrg) October 24, 2024

The primary goal of this upgrade is to improve transaction speed and throughput on the Celestia network.

Additionally, it encompasses several changes that will significantly aid the growth and overall functioning of the blockchain ecosystem. The report outlines five Celestia Improvement Proposals (CIPs) as part of the Ginger Upgrade.

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These include introducing a blob type with a verified signer, versioned gas scheduler variables, versioned timeouts, restrictions on the number of PayForBlobs (PFBs) and non-PFBs per block, and limits on transaction sizes.

The update implements a transaction size restriction of 2 MiB, along with specified limits on both PayForBlobs (PFB) and non-PFB messages in each block.

“The rationale is to prevent issues with gossiping large transactions, even with 8 MiB blocks and larger [ones],” the team stated in the report.

The Ginger Upgrade will also introduce default BBR (Bottleneck Bandwidth and Round-trip propagation time) congestion control, improving efficiency for substantial data transfers in peer-to-peer networks.

Additionally, this will enhance the process for validating transactions, strengthening the network's overall transaction capacity.

Could This Push TIA Coin to a New All-Time High?

In the last 24 hours, the TIA coin has lost 2.93% in value, currently changing hands for $5.92. Celestia boasts a market capitalization of $1.3 billion, making it the 59th largest coin in the world by market capitalization. This slight drop results in an over 18% drop in its 24-hour trading volume, currently at about $161 million.

The Ceslstia (TIA) coin reached an all-time high of $20.91 on February 10, eight months ago, but decreased by 71.37%. In contrast, its current price represents a rise of 195.2% from its all-time low of $2.03, recorded on October 31, 2023.

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We could see some stability in the TIA price in the coming few days before moving to the up or down direction, as six technical Oscillators on TradingView point to a neutral performance. Oscillators are widely used as leading indicators that signal potential trend changes before they occur.

Out of 11 indicators, only one signals to buy and one to sell, while the remaining nine are currently categorized as “Neutral.”

Although the impact of this groundbreaking upgrade has not been reflected in the price of the Celestia (TIA) token, the long-term benefits might appear as the blockchain network continues to implement more upgrades and improve the platform.