Firewood Unleashed: Is This the Game-Changer For Avalanche (AVAX) To Hit $20?
October 02 2023 - 9:00PM
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Ava Labs, the developer of Avalanche, the high throughput platform
for deploying decentralized applications (dapps) and custom chains,
has released Firewood, an update the team said is a
“multi-year effort that,” on the eventual rollout, will make
blockchain data storage more efficient. Specifically, Ava Labs said
Firewood resolves a big concern for expanding blockchains: data
management. Ava Labs Releases Firewood To The Public Ava Labs
is open-sourcing the code for Firewood for refinement before its
final implementation. Eventually, the team wants Firewood to be a
choice tool through which blockchain data will be better organized
and stored more efficiently. Toward this mission, Ava Labs
developers are taking a new approach to storing and managing data,
unlike in legacy networks. Blockchains like Ethereum and
Bitcoin use the Merkle Tree structure to organize data. While the
system has been replicated widely across emerging ledgers, the
Merkle Tree architecture tends to be slow and inefficient whenever
the blockchain grows. Related Reading: Bitcoin MPI Forms
Death Cross, End of The Rally? Picking out the flaws in the Merkle
Tree system, Ava Labs is building Firewood from scratch but with
some “enhancements” to the system. Their objective, the statement
reads, is to make blockchain data storage and organization
smoother. Firewood doesn’t rely on generic tools like LevelDB or
RocksDB. Ava Labs claim these tools have been a cause of
“misalignment” leading to “significant overhead of either disk I/O,
size (not tracking whether state is still used), and
serialization/deserialization of Tree data structures to support
high-throughput blockchain workloads.” In light of these
inefficiencies, the goal is to make Firewood a replacement “for the
LevelDB/RocksDB + Merkle Tree.” Ava Labs claims that firewood can
help users organize their data storage more “efficiently” with
their system. This improvement will allow high throughput storage
without constant data cleanup or compression. In the days ahead,
Ava Labs revealed that Firewood will be integrated into various
parts of the Avalanche. At the same time, the team plans to
“release a series of reproducible benchmarks comparing the
performance of Firewood to other blockchain databases.” Will
Avalanche Rally To $20 And 2023 Highs? The release of Firewood is
when AVAX, the native token of Avalanche, has been under immense
pressure in 2023. The draw-down, fueled by the bear market and
recent comments by the Securities and Exchange Commission (SEC)
claiming that AVAX is an unregistered security, heaped more
pressure on the coin. AVAX is changing hands at $9.53, up 11% from
September 2023 lows. However, the coin is down roughly 60% from
2023 highs at around $20. Related Reading: XRP Price Bloodbath On
The Horizon? Report Casts Doubt On Recent Rally Feature image from
Canva, chart from TradingView
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