Aventus is a layer-2 blockchain protocol that improves the scalability, cost-effectiveness, and speed of Ethereum transactions.
Ethereum suffers from scalability concerns, making it a victim of its own success. As the blockchain network of choice for the majority of enterprises, its maximum transaction throughput is woefully inadequate to satisfy demand. As a result of the economics of supply and demand, transaction fees have soared, making them prohibitively expensive.
The Aventus Network (AvN) addresses this issue by allowing businesses to construct on top of the Ethereum network using Aventus’ second-layer protocol. With the AvN, applications may simply collaborate cross-chain with any other potential blockchain technology by tapping into the Polkadot ecosystem and developing atop Substrate.
What distinguishes Aventus?
Aventus is designed from the ground up to be enterprise-grade, appealing to large partnerships with millions of transactions each year. Furthermore, Aventus is built on Substrate and is intended to be a layer-2 not only for Ethereum but also for Polkadot and beyond, with the objective of allowing mainstream blockchain adoption through cross-chain capabilities. Aventus provides organizations with the scalability, speed, and cost-effectiveness they require while ensuring security across different blockchain networks.
The Aventus Network (AvN) Main Net is now officially operational.
After great effort from the entire Aventus team, I am pleased to inform you that the primary net Aventus Network (AvN) is now operational.
The debut comes just one week after the Aventus Validator Registration Program, in which Validators receive fees from transactions completed on the Aventus Network.
It’s all part of the company’s new path as a second-layer scaling solution that allows organizations to develop on Ethereum without the usual constraints of scalability, speed, and cost.
This new path broadens the market for Aventus technology and expands its use cases beyond live ticketing.
The network enables businesses ranging from financial asset managers and supplies chain coordinators to customer rewards programs and live entertainment firms to simply build and execute efficient, highly secure, and future-proof blockchain solutions.
The Aventus Network is the company’s first major step toward realizing its vision of assisting organizations and decentralized platforms built on blockchain technology to support long-term growth through aligned economic incentives that make transactions fairer, more transparent, and more inexpensive.
The Ethereum Network is wonderful, but it has limitations.
Ethereum is and will continue to be the network of choice for any organization implementing blockchain technology because it provides a more secure way to make and monitor transactions than older methods.
However, as a result of its own success, it is severely constrained by the number of transactions feasible per second, expensive fees, and sluggish transfer times.
“Several years of development and comprehensive testing in the making, AvN is built on the belief that Ethereum is brilliant — the philosophy of decentralization, its high levels of versatility and security, and its incredible community of creative developers and enthusiasts,” said Alan Vey, co-Founder, and CEO of Aventus.
However, it is constrained, and we want to remove those constraints so that every organization that may profit from the blockchain can do so.”
The Aventus AvN protocol on the main net mitigates Ethereum’s key challenges:
AvN is 133X quicker than Ethereum, scaling up to 2,000 transactions per second versus Ethereum’s 15 transactions per second.
The average transaction cost for organizations utilizing AvN is $0.01, which is less than 1% of the average Ethereum transaction price. AvN processes token transfers in 0.13 seconds, which is more than 100 times faster than Ethereum.
Aventus, as a layer-2 blockchain solution, combines the finest features of Ethereum’s extremely secure distributed ledger with total interoperability with future or existing blockchains.
AvN’s foundations and long-term objectives include compatibility with other public blockchains. To that purpose, Aventus’ technology will be completely open-source for the developer community.
The Aventus Network now processes 8.5 million historical customer transactions (AvN)
The Aventus Network has begun processing the first of a minimum of 8.5 million historical transactions, thanks to Aventus’ existing relationships with Cashback App, Artos Systems, FanDragon Technologies, and VOW currency.
“We anticipate that as new client partners join, this figure will skyrocket” – a sentiment shared by Daniel Masters.
The Aventus Network is slated to go public in February 2021, ushering in a new strategic direction for the network.
The main net of the Aventus Network (AvN) is a second-layer blockchain technology that improves the scalability, cost-effectiveness, and speed of Ethereum transactions. This exciting shift in positioning is reflected in the company’s identity and vision, which coincides with the new launch.
The Validator Registration Program will commence at 9:00 am in the UK on February 1st, 2021, as the first stage in Aventus’ re-launch to the community.
What exactly does the Aventus Validator Registration Program entail?
The Aventus Validator Registration Program allows AVT holders to earn fees from Aventus Network transaction processing.
The Aventus Network will begin with ten nodes, each with an equal chance of being chosen to execute transactions (i.e. 10 percent probability).
Fees linked with processed transactions will be earned by each node, with an average of around $0.01 per transaction in AVT. In addition, each node will own a total stake of 250,000 AVT.
Transaction fee incentives are proportional to the amount of AVT associated with a node by a Validator.
For example, if a holder owns 25,000 of a node’s 250,000 AVT, he or she will earn 10% of all transaction fee rewards from that node.
Aventus’ existing relationships with Cashback App, Artos Systems, FanDragon, and VOW currency allow AVT holders who want to become Validators to earn transaction fees after processing a minimum of 8.5 million historical transactions.
What does this signify for those who have AVT?
AVT holders can earn their portion of transaction fees on a minimum of 8.5 million previous transactions by registering as a validator.
On a monthly basis, validators will be able to withdraw their proportionate part of transaction fees linked with their nodes.
Validators will be able to use the Ethereum smart contract to deposit any quantity of AVT to any of the 10 nodes. An independent third-party security audit was performed on the smart contracts.
From February 1st to February 8th, 2021, the Validator Registration Program will be in effect.
What is Aventus’s next step?
The debut of the Aventus main net platform is scheduled for later in February, and we will be announcing additional details in the coming weeks – so stay tuned!
Aventus significantly improves Ethereum.
Alan Vey has discovered a technique to significantly improve Ethereum.
Mr. Vey is the founder and CEO of Aventus, a two-layer blockchain system that offers significantly better transactional throughput and scalability than Ethereum at a cheaper cost. Aventus’ AvN protocol is 133 times quicker than Ethereum and can scale up to 2,000 transactions per second at a cent per transaction. Token transfers take.13 seconds to complete.
Mr. Vey got the idea for Aventus while studying at Imperial College in London. He proposed a Bitcoin price prediction tool to a professor, who advised him to look to Ethereum to see where the fledgling sector was headed.
His original objective was to develop solutions for intellectual rights, but as the creators realized Ethereum’s limitations, Aventus expanded into ticketing and delivery solutions.
“Ethereum did not deliver on scalability and was missing various components that were essential to extend that ambition,” Mr. Vey explained. “As you can see today, it’s still the largest general-purpose blockchain there is, and we’re strong fans of public open blockchains.” We believe the industry will eventually develop to that.”
Aventus Classic, which was released in 2018, is an Ethereum-based ticketing platform aiming to reduce fraud and ticketing in the event ticketing sector. The Aventus Network is a genuine scaling solution that is 100 times cheaper, has more throughput, and processes data faster than Ethereum.
It allows developers to tap into all blockchains because it is built on the Substrate blockchain architecture and is interoperable with Polkadot.
According to Mr. Vey, one of the most useful applications for the AvN protocol is loyalty points. Prior to the pandemic, aviation had an excellent use case because there was a single issuing company but many different parties reconciling at varied earn and burn rates. It’s a difficult process that involves debt commitments.
Mr. Vey recommended expanding rewards into standard vouchers, which, while not a core loyalty program, have broad usefulness if represented as tokens. Tokens provide additional utility and can be traded. This decreases the number of unused loyalty points, which is a system inefficiency.
Because it operates on a blockchain, incentive providers can deal with microtransactions that can be spent, saved, or sold. The technology simplifies dealing with points, debt commitments, and seasonal swings that can affect cash flow.
“We were able to restructure that debt obligation and remove it from the corporation since these tokens may be sold on secondary marketplaces and distributed peer-to-peer,” Mr. Vey explained. “It’s no longer a debt obligation; it’s just an instrument you agree to accept back in exchange for something else.”
It uses a fractional reserve concept in which 20% of an issue is paid for and the remaining is addressed by growing the program’s adaptability and the number of point purchasers. By restructuring their loyalty debt obligation, lowering transaction costs, and enhancing treasury management, CashbackAPP enhanced their margins by up to 25% in six months. Payment times have also been shortened.
Customers may learn to conceive of the points as genuine money as a result of their enhanced utility, which can increase the popularity of a reward program. Transfer or sell them with a better user experience, and customer benefits.
Mr. Vey stated that the AvN protocol was thoroughly tested before its launch.
The current price of Aventus is 2.87 USD, with a 24-hour trading volume of 3.14 M USD. AVT has increased by 24.29 percent in the last 24 hours. It is currently -16.64 percent off its all-time high of 3.44 USD and 40.19 percent off its all-time low of 2.05 USD. The circulating supply of AVT is 6.00 M AVT, with a maximum supply of 10.00 M AVT.