The main blockchain network Avalanche will be launched on Monday, September 21st. With the launch of this core network, the native token of the Avalanche platform called AVAX will be listed in cryptocurrencies.
As previously reported, the AVAX token will serve as a tool for Avalanche network security through sticking, operating fees, peer-to-peer funds transfer, and networking. A representative of the company stated that after the start of the main network, data related to this token will be available on large sites providing token information such as CoinMarketCap. In parallel with the Ava Labs network, Avalanche is launching an open-source platform for building decentralized financial applications and enterprise or private blockchain tools. With this launch, Ava Labs intends to build a large-scale blockchain network through which to solve major DeFi problems, such as overcrowding on the Atrium network. Kevin Sekniqi, co-founder and CEO of Ava Labs, told Quintel Telegraph that the DeFi world has always been Avalanche's main focus. He claimed that the network is essentially unlimited in terms of scalability:
There is no limit to the number of blockchain credentials that can participate in the Avalanche Consensus without any downtime. We have tested more than 2,000 of these absolute validation nodes without any downtime or downtime.
According to Ava Labs representatives, the Avalanche network is capable of authenticating transactions in less than a second, as well as processing capacity of more than 4,500 transactions per second and a security threshold "well above the 51% standard of other networks." Because the Avalanche platform is designed to help increase the scalability of current DeFi projects, the network must provide adequate interaction with other networks. "The project supports interconnections of other networks to allow users to transfer their assets between them," Sekniki said.
We will soon build a bridge to ETH that enables inter-network activity; These activities include the transfer of assets such as stablecoins between networks or the "coverage" of native assets on the Avalanche network, while no performance is disrupted.
According to the company, the project has raised $ 60 million so far, including $ 42 million in general token sales in July and $ 12 million in exclusive sales, with Galaxy Digital, Bitmain and Initialized Capital selling. It is worth mentioning that this project started in May 2019. Recently, Avalanche founder and CEO Emin Gün Sirer criticized emerging blockchain projects for using incomprehensible solutions in the industry. He wrote in a tweet that many industry projects claim to be high technology without providing clear or specific evidence.
so nice