2024-06-05
On June 4, 2024, Avail, a Web3 modular
blockchain layer and a data availability network project, announced that
it has secured $75
million in total funding from investors.
Avail on X: "We're thrilled to announce that we have secured $75m in total funding.
When combined with pre-seed and seed rounds of $5
million and $27 million, the total funding is $75 million.
The funding will be directed towards
solving key challenges within the Web3 space, such as developing the
unification layer for modular blockchain, blockchain fragmentation, data
availability, and scalability.
Avail’s approach involves secure
rollups, which allow developers to build scalable blockchain applications.
The Unification Layer consists of:
1. Avail DA - The base data availability layer that
provides core infrastructure allowing networks of blockchains built on top to
scale efficiently.
2. Avail Nexus - A proof aggregation and sequencer
selection ZK rollup on top of Avail DA, allowing for cross-rollup and
cross-ecosystem settlement.
3. Avail Fusion - A crypto-economic security layer
secured by multiple assets such as BTC and ETH.
Avail is head by Anurag Arjun. Not only
he is a co-founder of Polygon, but he is also a co-founder of Avail.
Polygon is well-known blockchain
scalability platform. He, along with Jaynti Kanani and Sandeep Nailwal, founded
Polygon (formerly known as Matic Network) in 2017.
The platform was created to address the
issues of high fees and slow transactions on Ethereum.
Polygon team worked on a Plasma
solution, which was one of the first Layer 2 scaling solutions for Ethereum.
However, due to feasibility issues, they pivoted to a Proof of Stake (PoS)
network in 2020 and later developed a suite of ZK-rollup solutions such as
Polygon CDK and Polygon zkEVM.
Anurag Arjun left Polygon in 2023 to
focus on Avail, a separate product outside Polygon. Avail is
designed to be a modular blockchain network that provides developers with the
tools to create custom blockchain solutions.
His departure from Polygon was to
concentrate on running Avail, which also separated from the company at the same
time.
Polygon has made significant strides in
the blockchain industry and is considered one of the major players today. It
has expanded its offerings to include various scaling and infrastructure
solutions, such as the Polygon PoS chain and ZK-rollup solutions.
The co-founders of Avail are Anurag
Arjun and Prabal Banerjee. They both were part of the original team at Polygon
and later branched out to focus on Avail, which is a data availability network
designed to support blockchain scalability.
Avail aims to address challenges like
blockchain fragmentation, data availability, and scalability.
