Avail Launches Mainnet for Blockchain Data Availability After $75M Funding
The Avail project, specializing in Data Availability (DA), has been launched, marking a major breakthrough in efficient and cost-effective storage of transactional data in blockchain networks.
Spun off from Polygon in 2023 and having raised $75 million, Avail positions itself as a key player in this rapidly expanding field.
A New Era for Data Availability
Avail focuses on data availability, a critical technology for storing massive volumes of transactional data generated by layer 2 networks on Ethereum. The project, led by Anurag Arjun, co-founder of Polygon, and Prabal Banarjee, aims to provide developers with the tools to enhance blockchain scalability, increase liquidity, and offer seamless usability across various blockchain ecosystems.
The Avail mainnet and its native token AVAIL have been rolled out, offering a robust infrastructure for data storage. Avail utilizes a decentralized set of validators, with an initial goal to support 1,000 validators, scalable up to 10,000. The AVAIL token will be used for data availability fee payments and securing the network through staking.
Positioning and Competition
In March, Ethereum developers introduced proto-danksharding, a native solution for cost-effective layer 2 transactional data storage.
Data availability is a field facing increasing competition, with projects such as Celestia, NEAR Protocol with Nuffle Labs, and EigenLayer. Celestia, a pioneer in the sector, launched its network in October last year with an airdrop of its native token TIA. Similarly, NEAR Protocol launched Nuffle Labs, a DA project with a $13 million funding.
EigenLayer, recognized as the leading Ethereum restaking project, is also developing its own DA solution, EigenDA.
Technologies and Collaborations
Avail stands out with its unique combination of KZG commitments and data availability sampling, offering specific advantages to rollups compatible with Ethereum’s danksharding roadmap. In December last year, Avail reached an agreement with StarkWare, developer of the Ethereum layer 2 StarkNet, to provide DA services to new applications. The project also plans integrations with Arbitrum, Optimism, Polygon, and ZKsync.
The technologies used by Avail represent a significant advancement for the blockchain community, allowing rollups to benefit from the envisioned features of Ethereum’s danksharding today. With its chain-agnostic approach, Avail aims to provide an adaptable and efficient DA solution for diverse blockchain networks, strengthening the overall cryptocurrency infrastructure.
