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Avail, a blockchain project focused on improving scalability, has officially launched its data availability (DA) mainnet with the debut of its native AVAIL token.
Avail DA offers a modular blockchain solution aimed at optimizing data availability, enabling developers to build more scalable, cost-effective and composable chains.
With the launch, the AVAIL token is now live. The token will be used to pay data availability fees, and token holders can start staking tokens starting today to contribute to network security.
Additionally, the AVAIL token will play a key role in the governance of Avail, following a phased approach to community decision-making.
While detailed information about AVAIL's tokenomics is still limited, the project has announced a total supply of 10 billion AVAIL tokens. In April, Avail announced an airdrop of 600 million tokens that could be claimed following the mainnet launch of the Avail DA layer for eligible participants.
Avail is led by Anurag Arjun, former co-founder of Polygon. Avail DA is the first component of Avail's full stack architecture. The project is currently focused on its next two major releases: Nexus, the interoperability layer, and Fusion, the security networking layer.
“The introduction of Avail DA and the AVAIL token represents the culmination of years of research and development aimed at addressing the most critical challenges facing web3 today, such as blockchain fragmentation, insufficient data availability, and limited scalability,” said Arjun.
How Does Avail Work?
Avail light clients use proofs of validity and data availability sampling to quickly validate data on consumer-grade hardware such as mobile phones. This provides immediate data sampling after block termination.
To prevent centralization, Avail uses a Nominated Proof-of-Stake (NPoS) consensus mechanism that distributes staked tokens equally among validators. The network aims to start with 1,000 validators and potentially expand to 10,000.
*This is not investment advice.