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Blockchain infrastructure company Avail has acquired Arcana, a provider of so-called chain-abstraction technology that facilitates cross-chain execution across multiple blockchains. Arcana says its platform supports about 2.5 million wallets and has processed more than five million transactions. The purchase positions Avail to offer what it calls a โcomplete multichain stack,โ allowing transactions from different networks to be routed through Avail once its Nexus mainnet launches, scheduled for the fourth quarter. Traders initially sent the AVAIL token up roughly 25 % on the news before the price pared some of those gains.
โก @avax is revolutionizing the blockchain landscape with its innovative consensus protocol, designed to deliver rapid transaction finality and high efficiency. This advanced system powers a network of optimized chains, ensuring transactions are completed almost instantaneously, https://t.co/i3ztMMWo7C
Avail just acquired Arcana ๐ค Chain abstraction is massive part of crypto https://t.co/wuWtIfKROR
$AVAIL just acquired Arcana, the chain abstraction mammoth, and this makes Avail the first complete multichain stack. Every cross-chain execution now flows through $AVAIL โ token demand should increase. The token was up 25% on the news, but is now retracing a bit. Should be https://t.co/9y5tmAGY8u
