1/ We are extremely excited to announce Avail - an important component of a completely new way on how future blockchains will work. #Avail is a general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechains & off-chain scaling solutions.
2/ #Avail provides a robust data availability layer by using an extremely secure mathematical primitive - DA checks using erasure codes. We use KZG polynomial commitments to create a 2D DA scheme.
- Avoids encoding fraud proofs,
- No honest majority assumptions,
- No reliance on honest full node peers to gain data availability confidence
4/ #Avail provides a common data availability layer that can be used by varying execution environments such as standalone chains, sidechains, and off-chain scaling solutions.
5/ In the long term, it will enable a wide variety of experimentation on the execution environment side and eventual implementation, without teams & projects having to bootstrap their own security. Chains created using @0xPolygon SDK, @cosmos SDK or @substrate_io will benefit.
6/ #Avail decouples the transaction execution and validity from the consensus layer so that the consensus is only responsible for
a) ordering transactions &
b) guaranteeing their data availability
7(a) Enable standalone chains or sidechains with arbitrary execution environments to bootstrap validator security without needing to create & manage their own validator set by guaranteeing transaction data availability
7(b) Layer-2 solutions such as Validiums to offer increased scalability throughput by using #Avail as an off-chain data availability layer
8/ We have been working on #Avail in stealth since the end of 2020 and currently it is at devnet stage. A testnet is in the works.
9/ More details about the problem, architecture, and the solution including references to the codebase can be found in the reference document - bit.ly/2U9a2Va
10/ #Avail solves this problem by taking a different approach - instead of verifying the application state, it concentrates on ensuring the availability of the transaction data posted and also ensures transaction ordering.
11/ A block that has consensus is considered valid only if the data behind that block is available. This is to prevent block producers from releasing headers without releasing the data, which would prevent clients from reading the txns necessary to compute the state of the
apps.
12/ #Avail reduces the problem of block verification to data availability verification, which can be done efficiently with constant cost using data availability checks. Data availability checks utilize erasure codes, which are used heavily in data redundancy design.
13/ Data availability checks require each light client to sample a very small number of random chunks from each block in the chain. A set of light clients can collectively sample the entire blockchain in this manner.
14/ This leads to an interesting consequence: the more non-consensus nodes that are present in the network, the greater the block size you can have securely. This is a useful property, as it means non-consensus nodes also contribute to the throughput & security of the network.
15/ In the KZG commitment based scheme that #Avail uses, there are 3 main features:
1) Data redundancy so that it is hard for the block producer to hide any part of the block. 2) Fraud proof free guarantee of correct erasure coding
15 (cont.)/
3) Vector commitments that allow full nodes to convince transaction inclusion to light nodes using succinct proof.
Simply put, Rollups provide an easy way to bypass the problem of all Ethereum nodes having to execute txns present in a block, to verify the validity of included transactions.
3/12 ZK Rollups do this by executing txns off-chain and submitting proofs called validity proofs back to Ethereum.
Optimistic Rollups solve this by executing txns off-chain and submitting assertions on Ethereum, with an added challenge period. These are secured by fraud proofs.
First, @sandeepnailwal, the Co-Founder of Polygon, will share a presentation about the last 12 months and what's in store for next year, followed by two short panels.
3/6 👀 NFT Panel: @dfinzer from OpenSea & Dave Carr from @decentraland will be joining the panel to discuss "Why are artists, creators and NFT projects finding value on Polygon?"
1/10 Lately we've noticed discussions and, at times, concerns or misinformation about multisigs on Polygon. To address that, here is a quick
TRANSPARENCY REPORT ON POLYGON MULTISIGS
First, it is worth explaining why are multisigs even used by many popular crypto projects.
2/10 Smart contracts on Ethereum are immutable by design, i.e. can not be changed once deployed.
This is a feature, not a bug. Immutability provides guarantees that any funds you put into a contract will only be used according to that contract's code.
3/10 However, this feature has one big downside: if there is a bug or a potential exploit in the code, there is no way to fix it!
In such situations, hackers can potentially steal users' funds and absolutely nothing can be done to stop them.
2/ 🔥 Polygon’s DeFi ecosystem is rapidly growing with more than 100 DeFi projects, including blue chips like @AaveAave and @SushiSwap. This has resulted in the need for deep liquidity for stablecoin pairs, for which Curve is exceptional.
3/ Curve’s mission is to allow for the seamless exchange of stablecoins with low fees and low slippage, and Polygon’s high-speed and low-cost infrastructure is the perfect match for Curve.