Aventus Network belongs to the new generation of composable blockchain networks built for scalability and interoperability. It is capable of high transaction throughput, provides deterministic finality and low and predictable transaction costs. The network currently operates as a Polkadot parachain having continued interoperability with Ethereum, and is used by several production applications.
History
Aventus’s journey began in 2018, providing blockchain-powered solutions to the ticketing industry via a project called Aventus Classic. The entertainment industry had been plagued with scalpers and fraudulent tickets, among other issues for which blockchain technology was more than apt for. So Aventus classic was an open-source, decentralised Ethereum-based ticketing protocol designed to alleviate fraud and touting in the long tail of the event ticketing industry. Its mission was tripartite: to improve oversight and control over tickets, to facilitate lasting communication between ticket owners and rights holders and to promote the standardisation of tickets and their life-cycle across the entire supply chain in order to reduce costs.
The Aventus team recognised from the start that the existing capabilities in speed and scalability of Ethereum were not sufficient to power the solution for the ticketing market. However, in 2018, the Ethereum development community had ambitious immediate plans to address these limitations, and the Aventus team aligned the development of the company offering with the Ethereum roadmap as it was plotted at the time. While the evolution of Ethereum’s capabilities in security, standards, and its independence from corporate interest have been excellent, delays and setbacks in the execution of scalability and speed roadmaps had become a blocking issue for Aventus.
With no out-of-the-box solution existing at the time, Aventus sought to build a scalable platform that would not only achieve the scalability required for the original vision, but could also be tuned to other business use cases. Aventus, therefore, began work on the Aventus Network, a solution designed to achieve the required levels of scale and privacy without compromising on native security and independence. The approach Aventus took then broadly put the Aventus Network solution into the Layer 2 (Layer 2) ‘bucket’ in the sense that it enhanced the scalability of the Layer 1 (Layer 1) by offering a facility to securely bring over and process transactions on the Aventus Network (i.e. on Layer 2 — off the Layer 1 chain), while also providing the means for users to independently verify on Layer 1 that Layer 2 processed and validated their transactions. The team has further enhanced and adapted the original protocol ensuring that this Layer 2 solution is also suitable for problems ingrained within other aspects of commerce including loyalty, vouchers, financial assets and virtual goods (i.e. any industry or supply chain focused on digital assets).
The next stage in the evolution of Aventus Network was becoming a parachain to Polkadot, while simultaneously maintaining the capabilities developed for the Layer 2 solo-chain Aventus Network including its interoperability with Ethereum. Aventus brought enterprise capabilities and transaction workloads into the Polkadot ecosystem, while benefiting from the enhanced security of the relay chain and the expanded user and developer communities of Polkadot/Kusama networks.
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Aventus Network 