By Shelly Melancon (Switzerland)
An Ethereum full-stack scaling solution, Polygon (previously called MATIC network), is set to launch Avail, an all-purpose scalable data availability layer.
Polygon to Launch an All-Purpose Data Availability Layer
Per a press release made available to the media, Polygon revealed that the data availability layer solution would offer an infallible blockchain that utilizes erasure coding to prevent data encoding proofs. It will also produce a 2-dimensional data availability scheme using polynomial commitments.
It termed this all-purpose blockchain network avail. This Avail network can provide various layer-2 solutions, including sidechains and standalone chains. Polygon’s Avail will assist single chains with the necessary guaranteed data to ease their task performances, especially when they run into issues when executing transactions.
A side benefit of offering Avail in this particular way is that the scalability of other L2 solutions will increase exponentially.
A Blockchain That Suits the Future
Anurag Arjun, Polygon’s co-founder, remarked that “Avail is a crucial part of the evolution of blockchains for the future. We are convinced that a robust, scalable data availability solution will eventually be necessary for off-chain scaling solutions and standalone chains.”
Polygon further added that “execution layers can also utilize Avail as it is a secure data ordering and hosting layer.” this execution layer will comprise several legacy execution layers or off-chain scaling solutions. Based on the release details, Polygon developers are already working hard to ensure that these tools are incorporated into Avail.
Also read:Polygon Keeps Growing
Polygon continues to collaborate with other projects to enhance its ecosystem. Last month, Polygon partnered with Google to incorporate the former’s blockchain datasets into the latter’s BigQuery to develop precise on-chain analytics for the Polygon.
Polygon is also expanding its DeFi network. Earlier this month, the blockchain network collaborated with 0x and revealed that it had amassed a $10 million reserve to include more than one million users into Ethereum and Polygon. These users will be projects and developers on its network so that Polygon’s DeFi ecosystem can be more secure and robust.
Pickle Finance Launches On Polygon
After releasing updates regarding its Avail blockchain project, Polygon also revealed that pickle finance (a yield aggregator) is about to be launched on its network. Pickle finance is expanding its operations from the Ethereum blockchain to the Polygon blockchain.
As a celebration of this pickle launch, Polygon is offering a $100,000 reward that will span across the next two months, but the rewards will be offered weekly during that period. All these projects and launches continue to increase Polygon’s popularity. Even American billionaire entrepreneur and investor Mark Cuban had publicly admitted to using the polygon network often.
Apart from gain popularity, the MATIC price has also surged greatly this year. It peaked at about $2.80 last month but has since declined. However, MATIC has risen by almost 6,000% this year, and the year has not ended yet.
Meanwhile, it hasn’t been all rosy for the blockchain as one of the stablecoins built on it plunged to zero after a cyber-attack.
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