Ault Blockchain launches EVM-compatible Layer 1 network

Ault Blockchain, developed by a subsidiary of NYSE-listed Hyperscale Data, is building an EVM-compatible Layer 1 network designed for trading, settlement, and the tokenization of real-world assets. The project was founded by Todd Ault following personal experiences with banking restrictions, including an instance during the COVID-19 pandemic where one of his operating companies had its cash frozen.

The network utilizes the Cosmos SDK, Cosmos EVM, and CometBFT consensus, aiming for 200ms block times. Rather than a traditional public token sale, the $AULT token will be distributed via a ten-year declining emissions schedule. The initiative seeks to address systemic friction in the financial sector, noting that even compliant businesses can face unilateral service cuts from private banking intermediaries.