Outside Source
Ava Labs is making headlines with a new update for the Avalanche (AVAX) blockchain.
The upgrade, dubbed Vryx, promises to handle an eye-popping 100,000 transactions per second (TPS).
On Jan. 26, the company shared a sneak peek into this development, which is about making the blockchain run smoother and faster.
This development addresses one of blockchain technology’s most critical and long-standing challenges: scaling networks to handle larger transactions without compromising security or decentralization.
Ava Labs expects to initiate this technology on the HyperSDK testnet, a toolkit for building high-performance blockchains, by the second quarter of 2024.
It will become a big part of Avalanche’s operations if all goes well.
The key to this upgrade is a sophisticated system called Decoupled State Machine Replication (DSMR). Essentially, DSMR changes the way transactions are processed.
Usually, transactions and their verification are tightly linked—now they’ll be separated. Typically, blockchain transactions are checked and approved (or executed) in a step-by-step process called State Machine Replication (SMR).
Vryx’s DSMR will shake things up by allowing transactions to be spread around and put in order before they are checked. It can increase transaction speed (or throughput), allowing more to happen simultaneously.
However, there’s a downside to consider—this system could allow invalid transactions (those that aren’t supposed to be processed because they don’t pay a fee) to spread across the network, which could clog it with unneeded data.
Vryx plans to address this issue by ensuring that only fee-paying transactions are circulated, saving resources and maintaining the system’s efficiency.
Ava Labs layoffs
Ava Labs recently cut its workforce in what the company described as a strategic maneuver to optimize resource allocation.
At the time, Ava Labs CEO Emin Gün Sirer emphasized that the decision had been set against the backdrop of current market conditions and was aimed at accelerating growth for both the company and the Avalanche ecosystem.
Despite the cuts—impacting approximately 40 employees, mainly from the marketing division—Gün Sirer assured stakeholders of Ava Labs’ robust financial standing.
This article first appeared at crypto.news
