Avail, a blockchain project focused on data availability that emerged from Polygon in early 2023 with $75 million in funding, has officially launched its main network. The project went live on Tuesday, introducing its native token, AVAIL, as stated in a press release.
Data availability, abbreviated as DA, involves the efficient and cost-effective storage of large volumes of transactional data generated by blockchains, including layer-2 networks built on Ethereum. Avail is entering a competitive market that includes Celestia, a pioneer in the field, aiming to meet the increasing demand for such services as blockchain networks expand.
Co-led by Anurag Arjun, co-founder of Polygon, Avail has secured $75 million in funding from backers like Founders Fund, Dragonfly, and Cyber Fund. The project previously partnered with StarkWare, an Ethereum layer-2 developer, to offer DA services to new application chains. Integration plans with popular networks such as Arbitrum, Optimism, Polygon, and ZKsync were also revealed earlier this year.
Despite the competition in the DA sector, Avail distinguishes itself as the only chain-agnostic DA layer combining KZG commitments with data-availability sampling. This unique approach is highlighted as a significant achievement for the blockchain community, allowing rollups to benefit from Ethereum’s danksharding roadmap immediately.
Avail’s network features a decentralized validator set, starting with 1,000 validators and the potential to expand to 10,000. The AVAIL token will play a key role in covering DA fees and ensuring network security through staking.
In addition to Avail, other players in the DA space include Celestia, NEAR Protocol’s Nuffle Labs, and EigenLayer with its EigenDA solution. The industry saw the introduction of Ethereum’s proto-danksharding for storing layer-2 transactional data at a reduced cost earlier this year.
As the blockchain landscape continues to evolve, projects like Avail are essential for enhancing scalability, liquidity, and usability across various blockchain ecosystems. The launch of Avail’s main network signifies a significant milestone in the advancement of data availability solutions within the industry.