Ava Labs is making headlines with a new update to the Avalanche (AVAX) blockchain.
Called Vryx, the upgrade promises to handle a notable 100,000 transactions per second (TPS).
On January 26, the company gave a sneak peek at this development aimed at making blockchains run more smoothly and faster.
This development addresses one of the most important and long-standing challenges of blockchain technology: scaling the network to handle larger transactions without compromising security or decentralization.
Ava Labs expects to launch this technology on the HyperSDK testnet, a toolkit for building high-performance blockchains, by the second quarter of 2024.
If all goes well, this will be a big part of the Avalanche’s operations.
At the heart of this upgrade is a sophisticated system called Decoupled State Machine Replication (DSMR). Essentially, DSMR changes the way transactions are processed.
Normally transactions and confirmations are closely linked, but now they are separated. Typically, blockchain transactions are confirmed and approved (or executed) through a step-by-step process called state machine replication (SMR).
Vryx’s DSMR will shake things up by allowing transactions to be decentralized and organized before they are confirmed. Increase transaction speed (or throughput) so more things can happen simultaneously.
However, there are downsides to consider. The problem with this system is that invalid transactions (transactions that cannot be processed because the fee is not paid) can spread throughout the network, congesting the system with unnecessary data.
Vryx plans to solve this problem by ensuring that only fee-paying transactions circulate, saving resources and maintaining system efficiency.
Ava Labs layoffs
Ava Labs recently reduced its workforce as a strategic move to optimize resource allocation.
At the time, Ava Labs CEO Emin Gün Sirer emphasized that this decision was made against the backdrop of current market conditions and was intended to accelerate the growth of both the company and the Avalanche ecosystem.
Despite the layoffs of about 40 employees, mainly in the marketing department, Gün Sirer assured stakeholders of Ava Labs’ strong financial position.