What is Avail? Information about AVAIL Coin

What is Avail? What Makes This Modular Project Special? Let's Explore It Together in This Article!

What Is Avail Information About Avail Coin

What is Avail?

Avail is a modular blockchain solution designed to connect Web3 and optimize the Data Availability (DA) layer for rollups with high scalability and customization. This project utilizes Zero-Knowledge (ZK) technology and validity proofs to ensure that the data uploaded to the Avail network is secure and available.

What Is Avail
What Is Avail

Avail aims to provide a seamless user experience within a flexible and modular blockchain ecosystem, drawing lessons from Web2 to innovate in Web3. Avail is not just building a product but pioneering a new field in the blockchain space, paving the way for an era of scalability and seamless integration.

Avail’s goal is to offer a platform that connects different blockchain ecosystems, ensuring interoperability and collaboration between diverse blockchain networks. This approach not only enhances user experience but also creates a more integrated and efficient blockchain ecosystem.

How does Avail work?

Product
Product

Avail has a total of three main products:

Avail DA (Modular Blockchain)

Avail DA is the network layer that handles data availability for transactions on Rollups. A transaction sent to Avail DA goes through five stages:

  • Transaction Submission: This stage assigns an ID to the transaction sent to Avail DA, helping nodes on Avail differentiate and process each transaction efficiently.
  • Erasure Coding: After assigning the ID, data from the Rollup is encoded, increasing security and integrity. Validators on Avail then encode the security layer and verify the data. If two-thirds of the validators agree, the encoded layer on the data is removed.
  • Commitment Creation: This stage involves Avail committing to the correctness of the data, with commitments existing in the form of cryptography.
  • Light Client: Light clients participate in re-verifying Avail’s data. Since light clients only download part of the transaction data for verification, errors and fraud can still occur. Therefore, Avail uses multiple verification methods to prevent mistakes from light clients.
  • Proof Verification: In the final stage of data verification, light clients prove the evidence from previous verifications. Then, Avail transfers the data to layer 1.

Using light clients means Avail employs Data Availability Sampling (DAS) for DA. This approach aims to increase network scalability and create a positive feedback loop. As the project expands, the number of light clients and DAS increases, making verification easier.

Avail Nexus

Avail Nexus
Avail Nexus

Avail Nexus is a technology that allows Rollups to connect and interact easily with each other. Typically, two Rollups face compatibility issues when interacting because their data entry and exit points are not consistent.

For example, the layer 2 Mode Network cannot interact with layer 2 Manta, making asset interaction and bridge use impossible.

To solve this, Avail Nexus uses ZKP technology to verify data from Rollups. Then, Avail Nexus sends proof to Avail DA, where network nodes perform DA tasks for the transaction.

Additionally, Avail Nexus helps expand Avail’s ecosystem to Rollups not yet connected to Avail DA.

Avail Fusion

Avail Fusion
Avail Fusion

Avail Fusion allows users to stake assets like BTC and ETH into Avail. Avail uses these assets to restake in Fusion Security mechanisms, enhancing Avail’s security. The more assets staked, the higher the security of Avail.

This model operates similarly to EigenLayer, where staked assets in the project are restaked in AVS security protocols.

Avail Fusion aims to provide network security while increasing user profits on Avail.

Team

Team
Team

Anurag Arjun: Founder

  • Anurag Arjun graduated with a Bachelor’s degree in Computer Engineering from the Nirma Institute of Technology in 2006.
  • After graduating, he joined Cognizant Technology Solutions as a Programmer Analyst.
  • In 2008, he transitioned to Product Manager at Dexter Consultancy. In 2017, Anurag co-founded Polygon Technology, a major blockchain project known for products like Polygon PoS and Polygon zkEVM.
  • He is currently the founder of Avail, a project developing DA infrastructure for Rollups.
  • Drawing from his background with Polygon, he has attracted many developers to Avail.

Prabal Banerjee: Co-Founder

  • Prabal graduated with a Bachelor’s degree in Computer Science from St. Xavier’s College, Kolkata, in 2014.
  • He then completed a Master’s program at the Chennai Mathematical Institute.
  • Prabal continued his studies and earned a Ph.D. in Security and Cryptography from the Indian Statistical Institute, Kolkata, in 2021.
  • Since his student days, he has been passionate about blockchain research and chose companies in this field for internships and work. After completing his Ph.D., he began working at the Indian Statistical Institute, continuing his research path.
  • In 2020, he became a researcher at Polygon Network.
  • In mid-2023, Prabal left Polygon and co-founded Avail with Anurag Arjun.

Dan Mills: Head of Product

  • Dan Mills graduated with a Bachelor’s degree in Computer Science from Duke University in 2000. After graduation, he worked for major companies like Ximian, Novell, and Mozilla Corporation.
  • He then founded startups such as 56 Degrees and Tinker Kitchen.
  • In 2020, Dan joined his first blockchain-related company, Square, as a Product Manager.
  • In 2022, he became a Product Manager at Polygon Technology but later left to become the Head of Product at The Avail Project.

Investors

Investor
Investor

Avail has successfully raised $75 million through three funding rounds:

  • February 26, 2024: Avail successfully raised $27 million in the Seed round, led by Founders Fund and DragonFly, with participation from Figment Capital, Nomad Capital, and others.
  • June 14, 2024: Avail raised $43 million in the Series A round, led by Dragonfly Capital, Hashkey Capital, and other investors.
  • Additionally, Avail raised $5 million in the Pre-Seed round, but no further details were disclosed.

What is AVAIL Token?

Updating

Roadmap

  • 2017: Anurag Arjun co-founded Polygon Labs.
  • 2020: Avail initiative launched.
  • 2022: Avail Testnet 1 launched.
  • 2023: Avail became an independent entity and launched Avail DA Kate Testnet.
  • 2024: Planned launch of DA Mainnet and Avail Nexus.
  • 2025: Deployment of Avail Fusion Security.

Project Channels

Similar Projects

Avail is a part of the modular sector and is similar to projects like Celestia and Fuel Network.

Related: What is Celestia (TIA)? Celestia Cryptocurrency Overview

Conclusion

Through this article, we have introduced readers to what Avail is. If you have any questions, please leave a comment to get answers immediately!

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