Polygon launches a general-purpose blockchain dubbed Avail
Polygon has announced the launch of its new general-purpose blockchain project called Avail.
According to Polygon's announcement, the project is dubbed as a general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechains, and off-chain scaling solutions.
Blockchain’s key objectives will be to offer standalone chains or sidechains with arbitrary execution environments to bootstrap validator security without needing to create or manage their own validator set by guaranteeing transaction data availability.
Avail offers increased scalability throughout layer-2 solutions by using it as an off-chain data availability layer.
Polygon has been working on Avail since late 2020, with the project currently in the DevNet stage.
Following the news of its latest blockchain project currently under development, Polygon also announced that yield aggregator Pickle Finance is launching on Polygon, which was previously operating on Ethereum. Polygon will be providing rewards of $12,500 in MATIC for the next eight weeks totaling $100,000.
Polygon has seen rapid growth in 2021 following the increased DeFi activity in the crypto sector. The project’s native MATIC token hit an all-time high of $2.70 in May. Billionaire investor Mark Cuban has also made an investment in the project after admitting to being a polygon user.