Avail’s Main Network Goes Live Alongside Native Token

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As a researcher with extensive experience in blockchain technology and data availability solutions, I am thrilled to witness the launch of Avail DA mainnet and its AVAIL token. Having closely followed the development of this project since its inception, I have been impressed by Anurag Arjun and Prabal Banerjee’s vision to create trust-minimized systems for enhancing blockchain scalability.

The blockchain initiative, Avail, which prioritizes enhancing data accessibility (DA) and scalability, has unveiled the debut of its mainnet, named Avail DA, together with its native token, AVAIL. This rollout is intended to fortify the foundation of blockchain technology by introducing a versatile solution for ensuring data availability.

Innovative Data Availability Layer

Introducing Avail DA’s innovative data management solution: a unified layer merging validity proofs and data availability sampling. This advancement enhances security and efficiency for managing data across various blockchains. The newly launched AVAIL token enables users to settle fees and pledge stakes, bolstering network security.

Avail DA Mainnet & the AVAIL token are now live!

Today signifies the introduction of Avail DA, a novel modular data availability solution that integrates validity proofs and data availability sampling. With this innovation, it’s now feasible to construct scalable blockchains that effectively meet increasing demands.

The AVAIL token powers the network—pay fees,…

— Avail (@AvailProject) July 23, 2024

The initiation of this project offers numerous advantages to the blockchain community. It facilitates the integration of Layer 2 solutions such as Validium, Optimism, and Sovereign Rollups, which help minimize expenses and improve overall capacity. Furthermore, RaaS (Rollups-as-a-Service) providers can leverage a robust data availability layer designed specifically for zero-knowledge technology. Simultaneously, developers are granted access to expansive blockspace for their tech structures, while AVAIL token holders have the opportunity to secure the network and engage in decision-making by staking their tokens.

Founders and Funding

I was part of the team that founded Avail towards the end of 2020, alongside Anurag Arjun and Prabal Banerjee. Our mission was to develop trust-minimized systems that would boost the scalability of blockchain technology. Our innovative vision caught the attention of notable investors such as Peter Thiel’s Founders Fund, Dragonfly Capital, and Cyber Fund.

In March 2023, Avail achieved independence as it was separated from Polygon Labs through a spin-off. Since then, this initiative has forged over 70 collaborations, among which are prominent Layer 2 platforms such as Arbitrum, Optimism, Polygon, StarkWare, and zkSync.

Avail has managed to secure a total of $75 million in funding so far. Among this amount, a significant $45 million were raised during the Series A round announced in June. These funds have played a vital role in advancing Avail DA’s development and strengthening its infrastructure.

Data Availability Competitive Landscape

The sector dealing with data availability is experiencing rapid growth, as numerous leading companies are joining the fray. Last October, Celestia, a trailblazer in this field, debuted its mainnet alongside the distribution of its TIA token through an airdrop, establishing a significant milestone for the industry.

NEAR Protocol unveils Nuffle Labs, a new decentralized project within its ecosystem, which raised $13 million in funding and focuses on improving the functionalities of its layer-1 blockchain. Meanwhile, EigenLayer, renowned for Ethereum‘s restaking solutions, introduces their DA technology called EigenDA. Although EigenDA offers advantages, it has certain limitations in functionality. Additionally, Ethereum’s early implementation of proto-danksharding in March provides a more affordable alternative for storing layer-2 transactional data, intensifying the competitive environment.

Amidst the ongoing advancements, Avail sets itself apart by being the sole provider of a chain-agnostic DA layer that integrates KZG commitments with data-availability sampling. This distinctive feature offers a flexible and expansive infrastructure that surpasses other alternatives in terms of versatility and scalability. Nonetheless, to solidify its presence in the market, Avail must showcase its benefits convincingly and compete effectively against existing solutions.

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2024-07-23 15:41