Tech
Addressing scalability challenges in the Web3 ecosystem
Avail, a company born from Ethereum level 2 solution Polygonhas secured $43 million in a Series A funding round to develop a unified layer that addresses scalability challenges and fragmentation issues within the Web3 ecosystem, according to a June 4 statement shared with CryptoSlate.
This round brings Avail’s total funding to $75 million, including the previous $32 million raised during the pre-seed phase.
The Series A funding attracted major venture capital firms such as Founders Fund, Dragonfly Capital and Cyber Fund.
Anurag Arjun, co-founder of Avail, said the funding will allow the company to “continue to address the most critical challenges facing Web3 today, such as blockchain fragmentation, insufficient data availability, and limited scalability.” .
Notably, the funding comes ahead of the company’s Avail DA mainnet launch, expected in just a few weeks. It She said Avail DA showed impressive performance during its incentivized testnet phase, processing over 118 million transactions and facilitating more than 140GB of data sending.
Unification layer
In the meantime, Avail intends to solve the highlighted problem through his Unification level. This modular technology stack combines data availability and shared security mechanisms to facilitate seamless interoperability between modular blockchains.
Consequently, this initiative is expected to pave the way for the development of a safe, cost-effective and effective system user-friendly blockchain ecosystem.
Additionally, the funding will support the development of Fusion Security, a mechanism designed to ensure shared security across the Avail ecosystem by leveraging native resources from established ecosystems such as Bitcoin and Ethereum.
Next, Avail plans to launch Avail Nexus, a zero-knowledge rollup based on Avail DA, to address cross-rollup interoperability challenges. This layer will act as a verification hub, unifying multiple rollups to mitigate issues such as siled liquidity resulting from blockchain fragmentation.
Joey Krug, partner at Founders Fund, said:
“Avail makes data availability – a historically costly issue for blockchains – much more cost-effective and efficient with its innovative and personalized approach. Their DA solution, paired with the Nexus interoperability layer and Fusion security layer, makes it extremely easy and simple for teams to create a new protocol (across all cryptocurrency categories) leveraging Avail’s technology stack.”