Avalanche’s token AVAX has shown great strength. This bullish momentum comes from Ava Labs unveiling its newest initiative – the Vryx scaling solution. The developers behind Avalanche explained how Vryx will increase its network’s capacity to 100,000 transactions per second (TPS).
Vryx has invented a new way to improve blockchain networks dramatically. Their Decoupled State Machine Replication (DSMR) method allows blockchains to process many more transactions securely without losing decentralization. This solves a big limitation of existing blockchain technology.
Unlike traditional blockchains like Bitcoin, valid transactions are executed and replicated sequentially in each block. Decoupled structures show advanced capabilities in State Machine Replication (SMR). Vryx’s DSMR introduces a big change. It lets transactions be distributed and organized before validation. This greatly improves transaction speed by allowing more simultaneous transactions.
The solution works by splitting the transaction process into separate segments. It runs them as a pipeline. One key feature is preventing profit-driven attacks. It does this by making all replicated transactions pay fees. The upcoming solution will debut on the HyperSDK testnet first. Then, it will expand to other Avalanche Virtual Machines.
According to Patrick O’Grady, the VP of Platform Engineering at Ava Labs, Vryx empowers the HyperSDK to fully leverage DSMR pipelining while maintaining the robustness inherent in traditional SMR, ensuring comprehensive syntactic and semantic verification.
1/ Introducing Vryx: Fortifying Decoupled State Machine Replication
— Patrick O'Grady 🔺 (@_patrickogrady) January 26, 2024
AVAX is witnessing an ascent in its price
Avalanche’s AVAX token reflected the excitement around these developments. According to Changelly data, AVAX’s price jumped about 10%. It reached nearly $36 at press time.
However, this growth is faster than other major assets like Bitcoin, Ethereum, and Solana. They saw around 5% or less gains during the same time.
At the same time, the project’s decentralized finance space has grown. The total value locked in the ecosystem rose 7% to $876 million, says DeFiLlama. Benqi, a liquid staking platform, greatly influences this. It makes up over 60.10% of the TVL.
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