Avalanche has confirmed the launch of its fully-featured mainnet, a highly-scalable, open-source platform for launching decentralised finance (DeFi) applications and enterprise blockchain deployments in one.
The new platform will be officially launched to the interoperable ecosystem next Monday, September 21, at a time when the growth of digital currency is accelerated.
Furthermore, it means Avalanche is the first smart contracts platform that confirms transactions in under one second, supports the entirety of the Ethereum virtual machine (VM) and development toolkit.
Emin Gün Sirer, Co-Founder and CEO of Ava Labs commented: “Monday will mark the beginning of a new era for cryptocurrencies, blockchains, and decentralized applications.
“Avalanche is the first major breakthrough in our space since Satoshi’s leap forward, and we intend to follow in their footsteps to have the same, defining impact as we stand on the cusp of a new decade.”
The Avalanche (AVAX) token is the native token of the Avalanche platform and is primarily used to secure the network through staking, paying for operational fees, transfer value, peer-to-peer, and creating new networks on the Avalanche platform.
“Avalanche moves at the rapid pace of crypto markets and will offer the first compelling alternative to existing networks that either rely on centralization to perform or haven’t shown they can scale to market demand without incurring massive fees,” added Kevin Sekniqi of Ava Labs. “We’re excited to be launching with an outstanding community around us, and look forward to fueling DeFi’s next boom.”
Avalanche can help Ethereum-based applications achieve high-performance, security, and scalability without much change to their current workflow. The Avalanche Contract Chain (C-Chain) is an implementation of the Ethereum VM, meaning Solidity works out of the box to make porting over applications seamless.
“DeFi is emerging as an asset class with massive growth potential for individuals and institutions alike,” stated John Wu, President of Ava Labs. “Avalanche can, and I believe will, be the network that brings that potential to reality by connecting these worlds together and creating a new market structure defined by velocity, efficiency, and innovation in new products and services available to people around the world.”