The developers of the blockchain project Avalanche have just rolled out its mainnet. According to the project's official blog:
"With the Avalanche consensus protocol serving as the platform’s engine, transactions are processed at 4,500 transactions per second, with sub-second transactional finality. Avalanche will alleviate bottlenecks that exist in current blockchain systems, as well as usher in a new generation of decentralized applications."
The developers of the project claim Avalanche will be useful for corporate clients, decentralized organizations, developers, crypto users and enthusiasts. Avalanche is presented as a direct competitor to the future blockchain Ethereum 2.0.
Ava Labs founder Emin Gün Sirer said:
"Avalanche is built from the ground-up to scale both the transaction throughput and time-to-finality. It's also ready for use starting next Monday, rather than in development with an uncertain timeframe."
To date, Ava Labs has raised around $60M. Some of the investors in the project include Andreessen Horowitz (a16z), Galaxy Digital and Bitmain.
Binance has also announced it has listed the Avalanche token. Trading on the AVAX/BTC, AVAX/BNB, AVAX/BUSD and AVAX/USDT pairs started today at 08:30 CET.
In the public sale of the token, which was conducted two months ago, the price of AVAX hit 0.85 $. Today, at 12:45 CET, the AVAX token is trading at $5.2.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.