Avail Launches: New Blockchain Aims to Improve Scalability with Native Token

Avail, a blockchain project focused on scalability, has officially launched its data availability (DA) mainnet alongside its native AVAIL token. This marks a significant step forward for Avail, aiming to address challenges faced by Web3 technology.

Avail DA: A Modular Solution for Scalable Blockchains

Avail DA offers a modular blockchain solution designed to optimize data availability. This allows developers to build more scalable, cost-effective, and composable blockchains – essentially, blockchains that can seamlessly interact with each other.

The AVAIL Token: Powering the Network

The launch brings the AVAIL token to life. The token serves several purposes:

• Data Availability Fees: Users will pay AVAIL tokens to cover data availability fees.
• Staking: Token holders can stake AVAIL to contribute to network security and earn rewards.
• Governance:  The AVAIL token will play a key role in Avail's governance, allowing the community to participate in decision-making.

While complete tokenomic details are still emerging, Avail has announced a total token supply of 10 billion and an earlier airdrop of 600 million tokens for eligible participants.

Avail's Leadership and Roadmap

Avail is led by Anurag Arjun, co-founder of Polygon. The DA mainnet launch is just the first step. Avail is currently focused on developing the next two components of its architecture:

• Nexus: This layer will address interoperability, allowing different blockchains to communicate and exchange data.
• Fusion: This layer will focus on security networking, further solidifying the Avail ecosystem.

Avail's Technology: Scalability Through Efficiency

Avail light clients leverage proofs of validity and data availability sampling to efficiently validate data on everyday devices like smartphones. This allows for faster data verification after blocks are finalized.

Additionally, Avail utilizes a Nominated Proof-of-Stake (NPoS) consensus mechanism to prevent centralization. This system distributes staked tokens equally among validators, aiming for a network with a large and diverse validator pool (starting with 1,000 and potentially scaling to 10,000).

Avail's Impact on Web3

Avail's launch has the potential to significantly impact Web3 by addressing core challenges like scalability and data availability. 

By offering a modular and efficient solution, Avail could empower developers to build more robust and interconnected blockchain applications.

July 2024, Cryptoniteuae