Avalanche (AVAX) Rises 10% After Key Initiative

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Avalanche’s developers have intricately outlined how the Vryx initiative is poised to elevate the network’s capacity to an impressive 100,000 transactions per second (TPS).

Revolutionizing Transaction Processing

Vryx tackles a critical challenge in blockchain technology—scaling networks to accommodate larger transactions without compromising security or decentralization. Leveraging the innovative Decoupled State Machine Replication (DSMR) approach, the platform brings about a transformative shift in transaction processing.

1/ Introducing Vryx: Fortifying Decoupled State Machine Replication

(How the #Avalanche HyperSDK Will Reach HyperTPS)https://t.co/eY3uWcyTPr

— patrickogrady.xyz (@_patrickogrady) January 26, 2024

Diverging from the sequential execution and replication of valid transactions in traditional blockchains like Bitcoin, decoupled structures, particularly DSMR, demonstrate advanced capabilities in State Machine Replication (SMR). Vryx’s DSMR introduces a paradigm shift by organizing transactions before validation, significantly boosting transaction speed and enabling a higher volume of simultaneous transactions.

Operational Excellence

The solution operates by segmenting the transaction process into distinct stages, running them in a pipelined manner. Notably, it addresses adversarial issuance attacks by thwarting profit-driven exploits, ensuring that all replicated transactions within the network incur fees.

Anticipated Launch

The forthcoming solution is set to make its debut on the HyperSDK testnet before expanding to other Avalanche Virtual Machines, marking a pivotal advancement in Avalanche’s transaction processing capabilities.

Vryx Unleashes HyperSDK’s Power, Maintaining DSMR Pipelining Robustness,” explained Patrick O’Grady, VP of Platform Engineering at Ava Labs.

AVAX Price Surges Amidst Excitement

The enthusiasm surrounding Vryx’s capabilities has translated into a notable surge in Avalanche’s AVAX token price, witnessing an impressive 10% increase to nearly $35.17 at the time of this update.

This growth surpasses the gains of other major assets like Bitcoin, Ethereum, and Solana, which recorded around 5% or less during the same timeframe.

DeFi Landscape Flourishes

Simultaneously, the decentralized finance (DeFi) sector within the project has seen a rise. The total value of assets locked in the ecosystem has surged by 7% to $876 million, as reported by DeFiLlama. Benqi, a prominent liquid staking platform, notably contributes to this figure, representing over 60.10% of the Total Value Locked (TVL).