Polygon announces the launch of Avail, a highly scalable data availability infrastructure that will be part of the new way blockchain networks work.
The developers of the scalability solution Ethereum, Polygon, announced the launch of Availability, a new multipurpose infrastructure designed to provide a scalable storage layer that can be used in different execution environments. According to the developers, Avail offers a data availability solution that works for both block chains independent, as for sidechains or side chains and for off-chain solutions.
El release The development shared by Polygon developers also explains that the new Avail solution will function as a general-purpose blockchain, but at the same time, it will be an important component in designing the new way future blockchains work.
Let’s remember that Polygon is a second-layer scalability protocol that seeks to make Ethereum a multi-chain ecosystem, integrating second-layer solutions and independent chains that are interoperable with each other. The protocol is building and developing a complex ecosystem to function as “the Internet of Blockchains on Ethereum.”
It may interest you: Polygon SDK, the solution to boost Ethereum as a complete multi-chain system
Polygon Avail Key Objectives
Avail is presented as a robust solution to the data availability and verification problems that exist in blockchain. Instead of protocols relying on honest peers of full nodes and validator nodes to gain confidence in data availability, Avail provides a common data availability layer usable from any protocol built on the Polygon SDK, Cosmos SDK, or Substrate. In this way, Avail unites the best of Polygon’s technology with that of the Cosmos and Substrate protocol and blockchain, the building blocks of networks like Polkadot and Kusama.
The solution provided by Avail allows the execution of the transaction and its validation to be decoupled from the consensus layer, so that the consensus of a network will only deal with ordering the transactions and guaranteeing the availability of their data, instead of the verification process, since this will be the responsibility of a system specifically designed for this purpose. In this way, Avail will allow the creation of decentralized protocols with arbitrary execution environments, which will be able to provide security, reliability and scalability in data availability, without the need to create or manage a set of validators of their own.
Building the new way blockchains work
With Avail, which is still in development, the Polygon team is looking to define a new way for blockchains of the future to work, providing scalability and security for everyone, at all times.
Currently, blockchain networks like Ethereum operate with a fairly complex node structure, which integrates full nodes, validator nodes, and light clients. The latter are vulnerable to manipulation, the Polygon team explains, as they do not download the entire blockchain, but instead rely on block headers to signal whether transactions were confirmed or not. For this reason, light clients can be fooled by malicious actors.
Avail allows us to overcome this shortcoming by replacing the verification of the application state with the availability of published transaction data. In other words, Avail will allow a block within a blockchain to be considered valid only if the data behind that block is available for verification.
As the team explains, Avail has been developing stealthily since late 2020 and is currently in an early stage of development. However, the team reported that it is already working on building a testnet (testnet) so that we can test the functionality of this new solution.
SafeDollar loses $250.000 on Polygon
Polygon's Avail announcement occurs almost simultaneously with the exploit of SafeDollar, the logarithmic stablecoin that was created on the network. The developer of the protocol DeFi SushiSwap, Mudit Gupta, wrote on his Twitter account that $250.000 was withdrawn from the project on Monday.
According to Gupta, SafeDollar was compromised due to a security flaw that allowed the attacker to manipulate the rewards to extract the funds.
Gupta explained that the attacker deposited an exorbitant amount of a token with transfer fees, which allowed him to extract value from the SafeDollar rewarder, causing the rewarder to lose money every time he withdrew the deposited tokens. As he explains, the hacker deposited a total of 214.235.502.909.238.707.603 tokens, where each unit was eligible to claim 5 tokens as a reward. This allowed the attacker to withdraw a very high reward for each token deposited.
“The attacker exploited this bug and depleted the rewards token balance by depositing and withdrawing the token in a loop”, the developer reported in his Twitter thread.
The hack resulted in losses of $250.000 that were stolen from SafeDollar by the attacker, while the value of SDO plummeted. At the time of the attack, SafeDollar (SDO) had a market cap of $450.000, so the total losses amount to $700.000. Indian Gupta a few hours later explaining the attack.
SafeDollar’s website shows that both the value of its SDO token and its market cap are $0.
Source: SafeDollar
This is the second hack that SafeDollar has suffered and the third to occur on the Polygon network this month.
Continue reading: Kyber Network makes its way to Polygon, the “Polkadot” of Ethereum, with Kyber DMM and Rainmaker
