--Avail blockchain's modular base layer has raised $75 million in multiple investments as venture capitalists recognize the need to address blockchain data availability challen
ges.The new capital will allow us to accelerate our development, expand our global footprint and continue to address the most important challenges facing #Web3 today.
Avail, led by Polygon co-founder Arjun, aims to solve 3 major problems in the Web3 ecosystem: #blockchain fragmentation, insufficient data availability (DA), and limited scalability.
Speaking with Cointelegraph, Arjun explained how Avail DA solves data availability issues by taking data availability issues off-chain and verifying availability through authentication, erasure coding, simplified clients, and data availability sampling (DAS).
Decrease the amount of available blockchain space as demand grows Unlike monolithic #blockchains , an accessible DA layer can expand blockchain space in line with demand, guaranteeing the prospect of chaining applications and collapsing them. " "
Major venture capital firms and angel investors including Altos Ventures, Alliance DAO, Hashkey, Elixir Capital, Spark Digital Capital and RW3Ventures participated in the Series A funding.
Through its blockchain unification efforts, Avail hopes to develop partnerships and collaborations with other Web3 players. Developers can build and extend modern blockchain applications by utilizing the features available to create new packages, rather than another first layer.
Arjun told Cointelegraph that the proliferation of Level 1 and Level 2 blockchains could be detrimental to the space due to fragmentation and user confusion. He also believes that venture capitalists are fascinated by Avail's vision for unity and the aforementioned problems that are "solved with our technology. ""
As the number of Tier 1 and Tier 2 blockchains grows, this could lead to fragmentation and confusion among users.
Rollup inherits security from the available base layer.
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