Introduction
In early 2023, a blockchain ‘data availability’ project called Avail was spun out of Polygon, raising $75 million in funding. After months of anticipation, the project is finally launching its main network and native token, AVAIL.
What is Data Availability (DA)?
Data availability, or DA for short, refers to the process of storing reams of transactional data produced by blockchains, such as layer-2 networks atop Ethereum, in a cost-effective and efficient manner. Avail joins a growing field of projects that aim to capitalize on increasing demand for this service as blockchain networks grow.
Avail’s Mission
The launch of Avail DA marks the first step in Avail’s mission to give developers the tools they need to boost blockchain scalability, enhance liquidity, and provide seamless usability across any blockchain ecosystem. According to a press release, "Avail is committed to making it easy for developers to build on blockchain by providing a reliable, secure, and cost-effective data availability solution."
The Team Behind Avail
Co-led by Polygon co-founder Anurag Arjun, Avail has raised a total of $75 million in funding from investors including Founders Fund, Dragonfly, and Cyber Fund. Last December, Avail announced an agreement with the Ethereum layer-2 developer StarkWare to serve as a DA provider for new applications chains.
Integrations and Partnerships
Earlier this year, the project disclosed plans for integrations with top networks Arbitrum, Optimism, Polygon, and ZKsync. In February, Arjun laid out an expanded ‘vision’ for Avail as a ‘unification layer’ helping to connect the myriad blockchains and layer-2 ecosystems. This vision includes DA as the ‘base’ along with additional projects such as Nexus, described as a ‘permissionless coordination hub,’ and Fusion, addressing the growing need for shared security.
Competition in the DA Arena
However, there is already much competition in the DA arena. Celestia, seen as the pioneer in the space, went live last October, along with an airdrop of its native TIA token. NEAR Protocol, an alternative layer-1 smart-contracts blockchain, spun out a DA project last month called Nuffle Labs, with $13 million in funding. EigenLayer, currently seen as the top restaking project on Ethereum despite lacking functionality pitched as crucial to the entire setup, has its own solution, known as EigenDA.
Avail’s Differentiators
Avail claims it’s ‘the only chain-agnostic DA layer combining KZG commitments with data-availability sampling,’ citing two technologies that are cast as differentiators. This marks a significant milestone for the blockchain community as it enables rollups to enjoy the features and benefits of Ethereum’s danksharding roadmap today.
The Avail Network
Avail’s network uses a decentralized validator set, aiming to support 1,000 validators initially, with the potential to grow to 10,000. According to the release, "This will ensure that the network is secure, scalable, and highly available."
The AVAIL Token
The AVAIL token will be used to pay for DA fees and secure the network through staking, the project said. With the launch of the main network and native token, Avail aims to provide a reliable and cost-effective data availability solution for developers and users alike.
Conclusion
Avail’s launch marks an exciting development in the blockchain space, with the potential to enhance scalability, liquidity, and usability across any blockchain ecosystem. As the project continues to grow and expand its reach, it will be interesting to see how Avail differentiates itself from existing DA projects and meets the increasing demand for this service.
Future Development
In March, developers rolled out the Ethereum blockchain’s native solution for storing layer-2 transactional data at a lower cost, known as proto-danksharding. This development has sparked further interest in DA solutions, with Avail poised to capitalize on this trend.
What’s Next?
As Avail continues to grow and develop, it will be exciting to see how the project evolves and adapts to the changing needs of the blockchain community. With its unique combination of KZG commitments and data-availability sampling, Avail is well-positioned to become a leading player in the DA space.
Technical Details
For those interested in diving deeper into the technical details of Avail’s solution, the project has provided extensive documentation on their website. This includes information on the network architecture, consensus mechanism, and tokenomics.
Community Engagement
Avail is committed to engaging with its community and providing regular updates on the project’s progress. The team encourages users to join the discussion on social media platforms such as Twitter and Reddit, where they can share ideas, ask questions, and provide feedback.
Resources
For those looking for more information on Avail, the following resources are available:
- Avail Website: Learn more about Avail’s mission, technology, and team.
- Avail Whitepaper: Get an in-depth look at Avail’s solution, including network architecture, consensus mechanism, and tokenomics.
- Avail Social Media: Follow Avail on social media platforms such as Twitter, Reddit, and LinkedIn.
Conclusion
In conclusion, Avail’s launch marks a significant milestone for the blockchain community, with the potential to enhance scalability, liquidity, and usability across any blockchain ecosystem. With its unique combination of KZG commitments and data-availability sampling, Avail is well-positioned to become a leading player in the DA space. As the project continues to grow and develop, it will be exciting to see how Avail adapts to the changing needs of the blockchain community.
