The Avalanche cryptocurrency (AVAX) has been a recent highlight in the crypto market, recording a notable increase of more than 10% in its value in the last 24 hours. This momentum is attributed to Ava Labs’ announcement of its latest innovation, the Vryx scaling solution. This new feature promises to revolutionize the processing capacity of the Avalanche network, increasing it to an impressive level of 100,000 transactions per second (TPS).
Avalanche’s scaling solution, Vryx, presents an innovative approach to solving one of the most persistent challenges in the blockchain world: how to increase the network’s capacity to handle a greater volume of transactions, without compromising security or decentralization. Vryx uses a technique called Decoupled State Machine Replication (DSMR), distinct from the traditional approaches employed by blockchains such as Bitcoin, where valid transactions are processed sequentially and replicated in each block.
Vryx’s implementation of DSMR allows transactions to be distributed and organized more efficiently prior to validation. This mechanism has the potential to significantly accelerate the speed of transactions, facilitating a greater volume of simultaneous transactions.
One of the most innovative aspects of Vryx is its ability to divide the transaction process into distinct segments, operating them in a pipeline system. This not only optimizes performance, but also provides additional security against adversarial issuance attacks by ensuring that all transactions replicated on the network incur fees.
The next step for Vryx includes its implementation on the HyperSDK testnet, a crucial step before its expansion to other Avalanche virtual machines. Patrick O’Grady, vice president of platform engineering at Ava Labs, highlighted the importance of this innovation.
The AVAX cryptocurrency rose positively on these developments. According to information from PortalCripto, AVAX saw an increase of almost 10%, reaching values close to US$3670. At the time of publication, the price of AVAX was quoted at US$35.00 with an increase of 4.5% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.