Avail, Spun Out of Polygon, Launches Data Attestation Bridge to Ethereum

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 63%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

The .AvailProject, in testnet, is launching its data attestation bridge to Ethereum, cryptauxmargaux reports

The data attestation bridge, which is still in its testnet phase, helps secure data off-chain. It’s connected to Ethereum, and can be used by bothStoring data on Ethereum can be expensive, so Avail aims to be a solution for layer 2s and 3s to publish data off-chain, to reduce the high transaction fees that often come from posting data on the main Ethereum blockchain.

The challenge of handling the data and setting up separate networks for data storage is known as the ”data availability problem,” or DA – an arena that includes developing cryptographic systems to prove that the data exists and that it’s right. “The data attestation bridge establishes a direct connection between the L2 rollup’s data and the L1 via Avail’s off-chain data availability layer,” Avail said in a press release.

The bridge is one component of what Avail will offer in the layer 2 ecosystem. In the longer term, Avail wants rollups to launch entirely on top of its network. These networks could include so-called“When an L3 or a validium sends the transaction data to Avail, the data attestation bridge provides the attestation on Ethereum,” Anurag Arjun, the founder of Avail, told CoinDesk. This then proves to Ethereum that “whatever data was submitted by the rollup to Avail is actually available.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Decentralized Exchange dYdX Launches Public Testnet on CosmosThe decentralized crypto exchange dYdX has launched its public test network on Cosmos, drawing closer to its full transition away from the current version built on Ethereum. LedesmaLyllah reports
Source: CoinDesk - 🏆 291. / 63 Read more »

Ethereum Layer 2 network Starknet plans 'Quantum Leap' upgrade on July 13Starknet, an Ethereum Layer 2 network, is preparing to release a significant upgrade named ‘Quantum Leap’ this month.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Ethereum (ETH) Network Activity Dwarfs Shanghai Upgrade Era: GlassnodeEthereum network activity not as high as it was in April despite lower fees
Source: Utoday_en - 🏆 295. / 63 Read more »

Ethereum NFT royalties hit two-year low as Bored Ape floor price falls below 30 ETHRoyalties from NFT collections hit a two-year low in 2023 according to blockchain data from Nansen.
Source: Cointelegraph - 🏆 562. / 51 Read more »