Victor Ugochukwu · Dec 14, 2020 . 5min read
Blockchain Development Firm Ava Labs Plans to Launch Avalanche Mainnet Next Week
Ava Labs is releasing the mainnet for its Avalanche blockchain on September 21. Moreover, it aims to surpass the capabilities of Ethereum 2.0
By Komal Joshi · Sep 17, 2020 . 6min read
The blockchain development firm, Ava Labs, led by Cornell computer science professor Emin Gün Sirer, is launching Avalanche to showcase the true potential of cryptocurrencies, blockchain, and decentralized finance on September 21. Avalanche is a smart contract platform. The mainnet launch will view Avalanche going live with a genesis state. This indicates Avalanche’s native token, AVAX, will be assigned to rightful owners. These include those who purchased the token in private and public sales. Rightful owners also include those who were awarded via grants or earned by subscribing to its community.
Avalanche to Exceed Ethereum 2.0
Avalanche has been under development for the past 16 months and aims to surpass Ethereum 2.0, the Ethereum network’s looming upgrade, at launch. It strives to achieve not only higher throughput but also lower latency. Additionally, it intends to facilitate new systems defined by velocity, efficient use of capital, and innovation in new products and services. The mainnet is finally releasing after the conclusion of three testnets. Additionally, its latest testnet, the Everest Release, saw the participation of over 700 full, block-producing nodes.
One of Avalanche’s primary marketing features is its Ethereum compatibility. One of its subnets, the Avalanche Contract C (C-Chain, for short), helps the Ethereum Virtual Machine and its Solidity coding language. Moreover, this will allow developers to import and deploy Solidity smart contracts on the new network.
Avalanche Offers Sub-second Transaction Finality
Avalanche is one of the smart contract platforms that gives sub-second transaction finality. It works on Ethereum’s weaknesses relating to virtual machine and development toolkit. Additionally, it enables millions of independent validators to partake as full, block-producing nodes. In enhancement to assisting sub-second transaction finality, it is capable of throughput orders of magnitude greater than existing blockchain networks (4,500+ transactions/second).
Avalanche is an open-source platform. It launches decentralized finance applications and enterprise blockchain deployments in one interoperable, extremely scalable ecosystem. Moreover, developers who create on Avalanche can quickly develop reliable, robust, secure applications and custom blockchain networks with complicated rule-sets. Furthermore, they can also establish on existing private or public sub-nets.
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