Polygon Co-Founder Resigns and Starts New Venture with Blockchain Project Avail

03/16/2023 13:45 • Tech Trends • 101 views

On March 16th, it was announced that the modular blockchain project Avail would be completely separated from Polygon. In addition, Polygon co founder Anurag Arjun would resign and take over Avail. Polygon launched the Avail project at the end of 2020 and publicly launched it in mid-2021. An Avail spokesperson said that Arjun was involved in the development of the project, and as part of the spinoff, it is now being acquired by a company entity wholly owned by Arjun.

The modular blockchain project Avail leaves Polygon and will be taken over by Cofounder Anurag Arjun

Analysis based on this information:

On March 16th, the blockchain space witnessed a major development as Polygon announced the complete separation of the modular blockchain project, Avail, from its ecosystem. As part of the move, Anurag Arjun, co-founder of Polygon, announced his resignation and his intention to take over Avail. The project was launched by Polygon in late 2020 and officially introduced in mid-2021. The spinoff of Avail from Polygon comes as a strategic move to focus on other key areas for Polygon’s growth.

According to sources, Anurag Arjun was instrumental in the development of Avail, a modular blockchain system designed to facilitate the creation of blockchain-based applications without requiring extensive coding knowledge. As part of the spinoff, the project will now be acquired by a company entity wholly owned by Arjun. This move is an indicator of the growing trend of diversification among blockchain companies, where multiple projects are developed under one umbrella and then spun off as independent entities with separate ownership structures.

This announcement comes at a time when the blockchain industry is undergoing massive transitions. As blockchain systems are becoming more mainstream, companies are starting to take on the challenges of scaling up their products and services. In this light, the modular nature of Avail makes it an ideal fit for the blockchain industry’s evolving needs, and Anurag Arjun’s leadership could evolve the project into a more focused initiative.

Overall, the spinoff of Avail from Polygon holds a lot of promise for both the blockchain community and the companies involved. The acquisition by Anurag Arjun’s organization provides the potential for a fresh perspective and increased agility when it comes to the development of blockchain-based applications. It remains to be seen what direction the project will take and how it will evolve under the new ownership structure, but it’s undoubtedly a move that will bear close watching in the months and years to come.

Keywords Summary: Blockchain, Modular, Spinoff.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/16/polygon-co-founder-resigns-and-starts-new-venture-with-blockchain-project-avail/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Polygon Co-Founder Resigns and Starts New Venture with Blockchain Project Avail

The modular blockchain project Avail leaves Polygon and will be taken over by Cofounder Anurag Arjun

Recommended articles