Although, at the moment, Rollups and Layer-2 options are available for blockchains looking to scale them, Polygon itself being one of them.
But these layers are primarily limited to the blockchain they are built upon, creating special conditions that must be fulfilled in order to connect with other chains.
Avail also plans on solving this issue as, in the long term, it will become the base layer for thousands of chains built atop it, enabling trustless bridges between blockchain worlds.
Furthermore, Avail also provides a step function increase in throughput and reduction in costs for the existing Layer-2 options, making it compatible with every chain.
Also discussing the doubts about overloading, Avail explained that as the blockchain has been designed to perform just one function, it is capable of supporting the storage needs of hundreds of blockchains at once. Adding to the same, the announcement read,
“While the benefits of outsourcing data availability may not seem obvious at first, the impact Avail will have on the space is difficult to understate. Because other layers aren’t required to store transactions that have taken place on their chains, execution environments can make necessary optimizations, and more easily experiment with improvements. Avail will only increase the rapid pace of progress we’ve already seen in the Web3 community as it makes experimentation easier.”
The DeFi space certainly needs it now more than ever as the blockchains are preparing to rise once again.
DeFi To Make a Return?
As stated above, the crash of May 2022 was disastrous for the crypto community as it impacted not just investors but also blockchains as people pulled their investments.
The DeFi chains were no exception either, as, within the span of a month, the total value locked (TVL) on it declined from $231 billion to $112 billion.
Losing another $40 billion over the last two months, the combined value of all DeFi protocols currently stands at $77.16 billion.
This news is republished from another source. You can check the original article here
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