Avail (AVAIL): The Future of Blockchain Scalability, Interoperability, and Security
What is Avail (AVAIL)?
Avail (AVAIL) is a Web3 infrastructure layer that enables modular execution layers to scale and interoperate in a trust-minimized way. It consists of three primary components: Avail DA (Data Availability), Avail Nexus, and Avail Fusion. Together, these components form the Avail Unification Layer and aim to address the key issues of blockchain scalability, interoperability, and security.
Who Created Avail (AVAIL)?
Avail was co-founded by Anurag Arjun and Prabal Banerjee, two innovators dedicated to pushing the boundaries of blockchain technology. Anurag Arjun previously co-founded Polygon Labs in 2017, which laid the foundation for his work on Avail. The initiative began under Polygon Avail in 2020 and later became an independent entity in 2023.
What VCs Back Avail (AVAIL)?
Avail has garnered significant support from the venture capital community. It is backed by prominent investors such as Figment, Dragonfly, Nomad, SevenX, and Founders Fund. This backing highlights the confidence that the investment community has in Avail's potential to revolutionize the blockchain space.
How Avail (AVAIL) Works
Avail DA
Avail DA is the core component of Avail. It prioritizes ordering and publishing transactions while enabling users to verify block data availability without downloading entire blocks. Its data-agnostic nature supports various execution environments, including EVM, WASM, and custom new runtimes. This versatility makes Avail DA a powerful foundation for diverse blockchain applications.
The system design of Avail DA includes three main layers:
● Data Hosting and Ordering Layer: This layer ingests and orders transactional data, ensuring its availability without engaging in transaction execution.
● Execution Layer: This layer processes transactions, generates checkpoints, and submits proofs to the Verification/Dispute Resolution Layer.
● Verification/Dispute Resolution Layer: This layer verifies the checkpoints or proofs submitted by the Execution Layer, ensuring that only valid state transitions are accepted within the network.
Consensus Mechanism
Avail DA uses a Nominated Proof-of-Stake (NPoS) consensus model for scalability and energy efficiency. It employs Substrate's BABE/GRANDPA consensus, which combines fast block production with provable finality. Validators play a crucial role in this process, ensuring that only verified and agreed-upon data is propagated through the network.
Transaction Lifecycle
The transaction lifecycle in Avail DA involves several key steps:
● Transaction Submission: Rollups submit transactions to Avail DA, each carrying a unique application ID.
● Data Extension and Erasure Coding: Transactions are processed through erasure coding, adding redundancy and enhancing data reliability.
● Commitment Creation: Redundant data is applied with KZG polynomial commitments, serving as cryptographic proofs of data integrity.
● Block Propagation: Validators verify the commitments and reach consensus on the block, ensuring verified data is propagated through the network.
● Light Client Network: Light clients use Data Availability Sampling (DAS) to verify block data integrity, enabling decentralized and efficient data verification.
Avail Nexus
Avail Nexus connects multiple blockchains within and outside the Avail ecosystem, using Avail DA as the root of trust. It features a proof aggregation/verification layer and a sequencer selection mechanism, ensuring interoperability and cooperation among diverse blockchain networks. By providing a seamless user experience, Avail Nexus aims to unify the Web3 ecosystem, enabling users to engage with multiple rollups and external chains effortlessly.
Avail Fusion
Avail Fusion allows native assets from major ecosystems like Bitcoin and Ethereum to be staked alongside Avail's native assets. This innovative approach enhances Avail's economic security and marks a significant milestone in blockchain technology. The first public prototype for Avail Fusion is still under development, but it promises to bolster the security and stability of the Avail ecosystem significantly.
AVAIL Goes Live on Bitget
Considering the innovative strides made by Avail in the blockchain space, trading its native token AVAIL on Bitget presents a compelling opportunity for savvy investors. Avail's modular infrastructure addresses critical issues like scalability, interoperability, and security within Web3 ecosystems, backed by a robust framework and support from leading VCs.
Bitget, known for its user-friendly interface and comprehensive trading tools, provides a secure platform to engage with AVAIL. As Avail progresses towards its mainnet launch for Avail DA and upcoming milestones like Avail Nexus and Avail Fusion, trading AVAIL on Bitget could offer early exposure to potential growth and adoption.
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
- Magic Eden (ME): The Largest NFT Marketplace on Solana2024-11-25 | 5m
- How to Buy the Bitcoin ETFs2024-11-25 | 5m