- Ava Labs has announced the Vryx scaling solution, giving the network the capability to handle up to 100,000 transactions per second.
- This technical achievement has inspired the network’s native token, AVAX, to rally by 10%, far surpassing its peers.
The Avalanche network is celebrating a major technical development with the launch of the Vryx scaling solution. Announced by Ava Labs, the team behind the development of the network, this gives the blockchain the capability to handle up to 100,000 transactions per second (TPS).
In the wake of this news, the Avalanche native token, AVAX, has celebrated gains of up to 10%. On the weekly chart, AVAX has posted 20% gains, outperforming its peers by far. At the time of writing, the altcoin is trading at $35.70 but has reached a high of $37 in the last 24 hours.
The recent gains have helped the token cement its position in the top ten ranked cryptocurrencies by market cap. After recently dethroning Dogecoin (DOGE), AVAX now enjoys a market cap of $13,104,373,447, while 11th-ranked DOGE stands at $11,603,154,191, marking a nearly $2 billion difference. AVAX now sets its eyes on 9th-ranked Cardano (ADA), which enjoys a market cap of $18,578,891,567.
Following the deployment of the Vryx scaling solution, the network will use Decoupled State Machine Replication (DSMR) to handle up to 100,000 TPS. This is accomplished by increasing efficiency by distributing and organizing them before validation, thus enhancing speed and volume. Significantly, this will be achieved without compromising the security of the network. This has been accomplished by applying fees.
8/ Vryx, a fortified DSMR construction that will be employed by the Avalanche HyperSDK, mitigates these adversarial issuance attacks for profit-maximizing builders and ensures that any transactions they replicate pay fees, restoring fTPS = rTPS. pic.twitter.com/N4PvECiccE
— Patrick O'Grady 🔺 (@_patrickogrady) January 26, 2024
Patrick O’Grady, the VP of Platform Engineering at Ava Labs, further reveals that the Vryx will be employed on the Avalanche HyperSDK.
Vryx, a fortified DSMR construction that will be employed by the Avalanche HyperSDK, mitigates these adversarial issuance attacks for profit-maximizing builders and ensures that any transactions they replicate pay fees, restoring fTPS = rTPS. 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.
The VP further reveals that Vryx is an extension of previous research on scaling throughput in the HyperSDK that began in June 2023. With its deployment, this marks a significant step for the network and a major achievement for the community and investors.
As CNF has reported, Avalanche has made several efforts through upgrades to offset existing challenges and position its network among giants in the ecosystem. Last year, it launched its layer 1 protocol’s Cortina upgrade on testnet. This was to make it easier for exchanges to support Avalanche’s X-Chain.
AVAX has been tipped as one of the most promising altcoins of 2024 with its committed development team, dedicated community, and overall optimistic view of the crypto market. In the long term, investors foresee AVAX retesting its ATH of $144.96 this year.
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