The Aventus Network is a 2nd-layer blockchain protocol that lets any organisation build on the Ethereum network without the typical limitations of speed, scalability, and price.
Aventus makes building on Ethereum accessible for businesses and decentralised platforms through fairer transactions for all — enabling the broadscale adoption of public decentralised blockchain through blockchain interoperability.
How did you come up with the idea for the Aventus?
I came up with the idea for the Aventus Network while studying for my master’s thesis at Imperial College London in 2015. I worked with William Knottenbelt, the Director of the Cryptocurrency Research and Engineering who introduced me to Ethereum which had launched earlier that year. Once we understood what Ethereum was and what it could do, we knew the future of blockchain would be in ensuring Ethereum (and other blockchains) could scale properly and efficiently for enterprise.
What’s more, we saw the risk of not ensuring interoperability between different blockchains. Aventus was born out of curiosity around how this technology could be used and the problems it could help to solve.
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How has the company evolved during the pandemic?
Like many other businesses, Aventus had to adapt almost overnight. To limit impact, we had to demonstrate financial discipline during COVID. This meant reassessing how we spent our budget, and we leveraged government financial support schemes as much as possible to look after our team and business priorities. Even though our team reduced in size, we were able to focus more of our time on research and development. Once things started to settle down after the initial hit from COVID, we started to invest more time and money in marketing and sales again.
Interestingly, the pandemic pushed us to further explore other elements of the blockchain industry like NFTs, that were receiving a lot of attention and popularity during the lockdowns. With all the time people were spending at home, understanding and engagement with the wider blockchain market skyrocketed.
What can we hope to see from Aventus in the future?
Over the last few months, our ecosystem has grown significantly – from bringing NFT support onto the platform through to launching projects with major partners. The next step is implementing ways for third parties (small-scale developers or businesses) to interface directly without our direct involvement, so without giving too much away, we expect to see large community growth and exciting new use-cases and applications. Watch this space!
With this momentum and growth, we hope to realise our overarching vision of being truly interoperable with the wider blockchain community. We want to drive significant blockchain adoption in existing sectors and businesses and in doing so help to demystify blockchain technology for wider society.