Polygon And Avail Split After 3 Years, Co-founder Forms A New Entity
Polygon spun out its modular blockchain project Avail into its own company. Anurag Arjun, the co-founder of Avail, departed and purchased the company, and the Avail employees will transition to the new organization. Avail is presently functioning on testnet, with the mainnet set to debut soon. As part of the spin-off, Avail will establish the Avail Foundation, a new non-profit foundation.
Polygon is said to have initiated the Avail project in late 2020 and made it public in mid-2021. Avail is a modular blockchain that enables developers to create scalable and flexible apps. Modular blockchains, as opposed to monolithic blockchains, segregate essential operations such as consensus, security, data availability, and execution. Arjun was a co-founder of this initiative earlier. Nevertheless, the purchase of the project by a different entity (owned by Arjun) would formally remove it from Polygon. Arjun’s whole Polygon team will be transferred to the new business as a result of this relocation.
Source
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