The developers of the blockchain project Avalanche launched the mainnet.
The project blog states: “The Avalanche Consensus Protocol serves as the platform’s engine, allowing 4500 transactions per second to be completed in a fraction of a second. Avalanche will limit the problem areas that exist in today’s blockchain systems and will also open up a new generation of decentralized applications. We are pleased to announce the launch of the Avalanche mainnet”.
The creators of the project claim that Avalanche will be useful for corporate clients, decentralized organizations, developers, crypto users and enthusiasts. Avalanche is positioned as a direct competitor to the upcoming Ethereum 2.0 blockchain.
To date, Ava Labs has raised $60 million in funding. The company’s investors include Andreessen Horowitz (a16z), Galaxy Digital and Bitmain.