The Avail modular blockchain team has announced the launch of the Avail AD mainnet and its own AVAIL token.
Avail DA Mainnet & the AVAIL token are now live!
Today marks the launch of Avail DA, the first modular data availability layer using validity proofs + data availability sampling. Now, build blockchains that truly scale with demand.
The AVAIL token powers the network—pay fees,… pic.twitter.com/t3SNvRV8Sl
— Avail (@AvailProject) July 23, 2024
The protocol is positioned as a data availability layer for Optimism, Validium, and other zero-knowledge proof solutions that will run on top of it. The technology will allow for the hosting and verification of data availability (DA) off-chain, serving as a key component of the concept of a modular network structure.
According to the project, Avail DA is a solution designed to optimize data availability and help developers build more scalable, cost-effective, and composable chains.
This is just the first of three parts of the modular blockchain stack. The team is currently working on the Nexus interoperability layer and the Fusion security layer.
Traditionally, Ethereum’s L2 networks relied on the base layer to provide DA. However, the rapid growth of layer 2 solutions has led to congestion, reduced throughput, and rising gas prices, the Avail team noted.
Rollups spend “millions every month” on data availability alone, the project says, and those costs are passed on directly to users.
The AVAIL token is used to pay fees and staking. Avail uses a Nominated Proof-of-Stake (NPoS) consensus mechanism that evenly distributes locked tokens among validators to reduce centralization.
In April, the blockchain team announced an airdrop among the project’s users. 600 million AVAIL will be allocated for this purpose.
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Source: Cryptocurrency
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