Advantages for both Polygon and Avail
Polygon (MATIC), which provides scaling solutions for the cryptocurrency (virtual currency) Ethereum (ETH), announced on the 16th that the project “Avail”, which provides a customizable blockchain, will become independent.
Polygon co-founder Anurag Arjun, who led the development of Avail, is leaving Polygon to continue Avail as an independent, self-funded project.
Avail says it plans to create a new non-profit foundation that will eventually be run by the community in a decentralized model. We have already launched our testnet and plan to announce our roadmap and mainnet launch soon.
Polygon explained that Avail independence is beneficial for both Polygon and Avail.
By becoming independent, Avail is better positioned to bring to market a blockchain architecture that brings scalability to various Web3 projects.
Avail will continue to be developed as a protocol-agnostic, open-source, community-owned project under a new entity by Anurag’s team.
Meanwhile, Porygon can also focus on strengthening its partnership with Ethereum, he continued. It will be possible to focus on developing products such as the Polygon PoS chain and three zero-knowledge solutions.
Polygon also said it will continue to focus on Ethereum’s data availability solution efforts and support future implementations of EIP-4844.
EIP-4844 is a proposal to solve Ethereum’s scalability problem, where network congestion can lead to skyrocketing transaction fees. It is said that the transaction fee of Layer 2 can be reduced up to 1/100. Ethereum core developers agreed in November 2022 to proceed with this implementation.
connection: Ethereum to implement “EIP-4844” to reduce L2 fees up to 100 times
What is layer 2
A “second layer” blockchain. Writing all transaction histories to the main chain increases the load, slowing down processing speeds and increasing network fees. Therefore, by writing part of the transaction history in the off-chain or side-chain, it is possible to reduce the load on the main chain and improve the processing speed.
In January, Polygon announced a corporate restructuring plan to unify all employees under the name of a group called Polygon Labs. In February, the company cut about 20% of its workforce as part of a business unit consolidation.
connection: Polygon cuts 20% of workforce in business unit consolidation
What is Avail
Avail is a modular blockchain that allows developers to build customizable and scalable applications. Modular blockchains allow functions such as consensus, security, data availability, and execution, which were traditionally handled by the same chain, to be separated into separate layers and handled separately.
Avail will be the underlying consensus layer on which other blockchains and applications with arbitrary execution environments can be built. It also allows developers to focus on building applications by decoupling the data availability layer.
Anurag explained that he expects adoption cases mainly for rollups and applications related to Ethereum L2 “Optimistic”, but not limited to these.
connection: What is “Rollup”, a solution to the scaling problem | Detailed explanation of the mechanism and points to note
What is a scalability problem
Refers to “scalability” issues that slow transaction processing. Due to the nature of blockchain, the amount of transaction data that can be written in one block is limited, causing delays in processing.Transfers can take a long time, which can lead to high transaction fees