❄️ Kinto Introduces Celestia Modules

Kinto is formulated to hasten the move to an on-chain financial ecosystem and comes with permissionless KYC/AML and native account abstraction to address the two major challenges to widespread adoption: compliance and user experience. Today, we are excited to unveil our plan to further enhance Kinto's user experience by incorporating Celestia, the foremost modular data availability layer in the industry. Leveraging Celestia, Kinto's performance will rise drastically, resulting in low transaction fees for customers. Furthermore, it will enable us to seamlessly integrate and add assets from Ethereum Mainnet. Moreover, in comparison to a panel or consortium-based approach, this will ensure unbiased treatment for developers leveraging Kinto. Celestia's integration with the Arbitrum Nitro technology stack is ready to be used for testnet deployment. This integration offers Nitro fraud-proofing and an Ethereum fallback, making it possible to enjoy the benefits of modular DA without the drawbacks. Kinto is bridging the divide between traditional and decentralized finance by offering decreased regulatory risk and the possibility for permissionless KYC/AML. This Ethereum Layer 2 platform enables users and developers to transfer funds and construct projects over the only decentralized environment that is compatible with both traditional financial organizations and DeFi protocols. Our mission at Kinto is to accelerate the shift towards an on-chain financial system while providing a secure, user-friendly, and KYC-compliant blockchain that doesn't compromise decentralization or neutrality as a developer platform. Celestia's modular architecture makes this vision possible. is a requirement for any business. Interoperability must be incorporated into the operations of any business. refers to the capability of a system to maintain responsiveness and performance when presented with increasing amounts of work. Scalability is the ability of a system to stay responsive and efficient when handling larger volumes of work. is no longer an option. Remaining impartial is no longer feasible. Kinto incorporated the modular thesis to customize its stack in order to construct a functional on-chain financial system. This approach stresses that the various tiers of blockchain infrastructure are independent and specialized, letting each significant element perform optimally. By being the initial Arbitrum-supported L2, Kinto maintains exclusive blockspace for its customers, eliminates the possibility of OFAC-prohibited behaviour, and allows for high-level security through Arbitrum's interactive fraud proofs if necessary. In monolithic blockchain designs, the blockchain handles the processing of transactions, manages consensus, and retains data all on one chain, which can result in challenges with scalability and customizability. With the optimized architecture of Celestia, users gain access to high-throughput data availability and consensus that is designed to work seamlessly with popular rollup frameworks. Utilizing Celestia as an integrated part of our DA layer enables us to concentrate on developing Kinto's remarkable capabilities and rushing it to market without compromising user experience. Owing to its sole concentration on DA and its years of study in the area, they have deployed the most sophisticated data availability technology accessible on Mainnet. Celestia provides a low-stress way to deploy a powerful blockchain, thereby keeping Kinto neutral to end users and developers compared to blockchains controlled by a consortium or by a few groups in a Data Availability Committee. In November 2023, Ethereum saw some expensive calldata totaling nearly $18 million in fees across major L2s. Today, rollups are contending for data accessibility, taking on the other popular applications that run on Ethereum Mainnet, such as Uniswap. Celestia employed as a dedicated DA layer can lead to a decrease of calldata costs of more than a factor of ~100. According to preliminary estimations, Celestia could diminish the cost of an ERC-20 transfer from the present 60 cents to practically less than one cent. Kinto facilitates cost reduction by reducing user fees and enabling developers to construct applications that can exploit maximum throughput. Such applications are often used for microtransactions and Kinto offers access to special network features such as account abstraction and KYC/AML at a much lower rate than prior Layer 2 solutions. At long last, Celestia helps to bolster decentralization and independence for Kinto. The strong consensus process guarantees the consistency of Kinto with no single authoritative entity. This decentralized approach is vital for earning the confidence of a great number of users. It is also necessities for financial services where safety and dependability are absolute prerequisites. Since Celestia introduced its support for the Arbitrum stack, they have been the first of their kind to implement a Data Availability Sampling (DAS) approach. This technique is designed to ensure high throughput L2s while still providing strong security. The news has created a lot of excitement! Kinto intends to use Blobstream on Ethereum Mainnet to connect to Celestia, granting the bridge and Nitro secure, on-chain access to Celestia's data root for integration. To gain a better understanding of how Celestia's Arbitrum Orbit and Nitro intertwine, refer to the related documentation. The modularity of the blockchain architecture, which involves the separation and optimization of its various layers, allows for increased efficiency in each layer. Since its formation, Kinto has employed Ethereum as its chosen blockchain service. Ethereum is the network that offers the most comprehensive infrastructure for financial applications that operate on the blockchain, and it is also the most resilient and unbiased of such networks. Recently, we made known our collaboration with Arbitrum at the protocol layer, taking the title of the first L2 using Arbirtum. Arbitrum is the reigning leader of the L2 sector in terms of TVL, development progress, and the magnitude of its DeFi ecological system. Kinto's launch program is operational. We aspire to provide the guarantees of the traditional finance system with our Arbitrum and Celestia stack, but with improved uptime, openness and lower costs than those associated with conventional asset issuance. We hope that the enhanced scalability provided by Celestia will increase the speed of this shift. Kinto's Engen launch program is already underway. You can join as a founding member before the mainnet is launched at the end of the first quarter. If you are invested in the idea of a protected, accessible, distributed financial structure, come together with us in the Engen Launch. Our company's resources can be found online through our website, documentation, Twitter feed, and Discord server.

Source: https://medium.com/mamori-finance/%EF%B8%8F-kinto-goes-modular-with-celestia-43bbff3a7e30?source=rss------fintech-5