Ava Protocol Announces Openstory Acquisition, Shares Team Expansion Ambitions

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As a seasoned crypto investor with a keen interest in blockchain technology and its potential applications, I’m excited to see Ava Protocol’s latest move in acquiring Openstory, an industry-leading data streaming platform. This acquisition is a strategic one that will significantly enhance Ava Protocol’s ability to gain insights into EVM ecosystem blockchains, ultimately leading to improved decision-making, scalability, and performance for blockchain apps.

Ava Protocol, previously known as OAK Network, has revealed information about its strategic purchase of Openstory, a top-tier data streaming platform for investigative on-chain studies. Additionally, the team has announced notable hires within their development and marketing departments.

Eigenlayer AVS Ava Protocol completes Openstory’s acquisition

Ava Protocol, a Web3 platform facilitating private, autonomous transactions for various business and individual applications, has recently taken over Openstory. This acquisition aims to significantly boost Ava Protocol’s capacity to extract data from Ethereum Virtual Machine (EVM) blockchains.

As a researcher studying the blockchain landscape, I’m excited to share some exciting news with you. Our team has recently acquired Openstory, an exceptional data streaming platform for on-chain data and analytics.

The integration of Openstory into our Ava Protocol suite will significantly enhance our capabilities. It will lead to more informed decision-making, increased scalability, and superior performance for blockchain applications that rely on our services.

— Ava Protocol (@ava_protocol) June 25, 2024

The collaboration between the two teams will lead to enhanced decision-making processes, greater scalability, and better performance in the development of blockchain applications.

Chris Li, the CEO of Ava Protocol, emphasizes that the acquisition of Openstory significantly advances the development of our product and strengthens the Ava Protocol community.

The addition of Openstory’s advanced real-time data streaming technology to Ava Protocol represents a major achievement in our mission to revolutionize blockchain automation. This acquisition, along with the growth of our talented team, will enable us to more effectively address the increasing industry need for secure, independent, and customizable transaction solutions.

I, as an analyst, would express it this way: With more than 30 decentralized applications (dApps) expanding within its ecosystem and a testnet hosting over 10,000 unique active wallets, Ava Protocol stands out as a leader in the realm of blockchain automation.

Recently, the company successfully raised $10 million in its seed funding round, with notable venture capital firms including Electric Capital, Foundation Capital, Greylock, and GSR taking part in the investment.

Openstory’s Vinh Nguyen joins Ava Protocol as system architect

Additionally to the technical alignment, Ava Protocol hired Vinh Nguyen, founder of Openstory, as their systems architect. With a strong background in Polkadot development and prior contributions to InfluxData, Nguyen’s extensive experience in constructing advanced data platforms will significantly contribute to the innovative advancements at Ava Protocol.

Vinh Nguyen is deeply enthused by the aspirations of Ava Protocol and the significant progress it has made thus far.

I’m thrilled beyond words to become part of Ava Protocol and contribute to shaping the future of blockchain automation. The company’s commitment to facilitating secure, private, and customizable transactions resonates deeply with my personal mission to make a significant impact in the Web3 space.

As a researcher, I’m excited to share that two new team members have recently joined the ranks of Ava Protocol, bringing valuable expertise to our growing organization. With over a decade of experience under their belts from esteemed companies like Google and Postman, Sam Shev now leads our marketing efforts. His role will be instrumental in amplifying Ava Protocol’s vision and increasing adoption within the industry.

As a crypto investor, I’m excited to share that Scott Staton has joined Ava Protocol in the role of Research and Content Lead. Leveraging his editorial background from esteemed publications like The New Yorker and Vice Media, along with his previous experience spearheading content for the decentralized computing startup Dfinity, Scott will be focusing on enlightening the industry about Ava Protocol’s impressive achievements and future plans.

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2024-06-26 17:57