Don't miss out on the newest edition of the Kiln Restaking Rendez-Vous podcast! Edgar Roth from Kiln is joined by Altan Tutar, Sr. Technical BD at Near Foundation, for an in-depth discussion on the Near AVS.
Exploring the world of Near AVS
In this recent discussion, Altan from the Near Foundation talked about the Near Fast Finality AVS and the significance of fast finality for rollups. He highlighted how the finality layer streamlines cross-chain transactions by eliminating the need for extended wait times, resulting in a smooth user experience.
Altan also delved into the requirements and incentives for operators of the AVS, as well as his long-term vision for the EigenLayer ecosystem. He expressed his belief that there is space for multiple AVSs in the market and that competition will fuel innovation.
Enabling rollups to achieve superior performance and cost efficiency with a Super Fast Finality Layer
Near is developing the Near Fast Finality AVS, which aims to provide fast finality for rollups. Rollups often have to wait for extended periods of time (e.g. 12 minutes on Ethereum) for transactions to be finalized, which can be inconvenient for users. The Near Fast Finality AVS aims to eliminate this wait time by creating a separate layer that allows rollups to quickly finalize transactions and improve the user experience.
The AVS uses a trust model based on the economic security of EigenLayer, and it can be integrated with any data-available layer. The AVS also has the potential to facilitate interoperability between rollups that share the same finality layer.
Near is currently working on improving the security model of the AVS, including exploring the possibility of using a dual staking model that combines the security of EigenLayer and the Near token.
Is it likely that we will see other L1s constructing AVSs on EigenLayer?
As the first L1 to launch an AVS, Near is positioning itself as a valuable player in the modular space of Ethereum. With its founders' history of contributing to Ethereum governance and their desire to build a sharded blockchain, Near has a unique relationship with Ethereum and is well-suited to provide value to the Ethereum ecosystem.
By offering a Super Fast Finality Layer for rollups, Near is helping to improve the performance and cost efficiency of the Ethereum network. Other L1s may follow in Near's footsteps and try to provide value to the modular space of Ethereum, but Near's head start and strong historical relationship with Ethereum give it a distinct advantage.
As the market continues to evolve, it will be interesting to see how other L1s approach this opportunity and how Near continues to innovate in this space.
Watch or listen to this episode for a sneak peek at Near AVS! Stay tuned for more exciting showcases in the coming weeks.
