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Sept. 22, 2020

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.

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