Avalanche (AVAX) Surges 10% After Team Unveils Scaling Solution

9 months ago 1

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Avalanche (AVAX) has demonstrated significant strength, with a price surge of over 10% within the last 24 hours. The catalyst behind this bullish momentum is the unveiling of Ava Labs’ latest initiative – the Vryx scaling solution.

The developers behind Avalanche detailed how Vryx will propel its network’s capacity to an impressive 100,000 transactions per second (TPS).

Avalanche’s Scaling Solution

Vryx will address a pivotal challenge within blockchain technology — scaling networks to facilitate larger transactions without compromising security or decentralization. The platform employs a novel approach known as Decoupled State Machine Replication (DSMR) that revolutionizes transaction processing.

In contrast to traditional blockchains like Bitcoin, where valid transactions are sequentially executed and replicated in each block, decoupled structures demonstrate advanced capabilities in State Machine Replication (SMR). Vryx’s DSMR introduces a paradigm shift by enabling transactions to be distributed and organized before validation. This innovation significantly enhances transaction speed by facilitating a higher volume of simultaneous transactions.

Indeed, the solution operates by dividing the transaction process into distinct segments, running them pipelined. One of its key features is mitigating adversarial issuance attacks by protecting against profit-driven exploits. This is achieved by ensuring that all replicated transactions within the network incur fees.

The upcoming solution will debut on the HyperSDK testnet before extending to other Avalanche Virtual Machines.

“Vryx enables the HyperSDK to take full advantage of DSMR pipelining without sacrificing the robustness of traditional SMR, which can enforce full syntactic and semantic verification,” Patrick O’Grady, the VP of Platform Engineering at Ava Labs, explained.

The AVAX Price Is On the Rise

Avalanche’s AVAX token mirrored the excitement surrounding these developments. According to BeInCrypto data, AVAX price surged by approximately 10%, reaching nearly $36 as of press time.

This growth outpaces other major assets like Bitcoin, Ethereum, and Solana, which saw around 5% or less gains during the same period.

Concurrently, the project’s decentralized finance space has experienced an uptick. The total value of assets locked within the project’s ecosystem rose 7% to $876 million, according to DeFiLlama. Benqi, a liquid staking platform, notably influences this figure, accounting for over 60.10% of this TVL.