The Ava Labs blockchain: all there is to know
The Ava Labs blockchain: all there is to know
Blockchain

The Ava Labs blockchain: all there is to know

By Marco Cavicchioli - 12 Jun 2020

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Ava Labs is a project dedicated to decentralized finance, based on blockchain, supported by several companies in the financial sector, including Andreessen Horowitz

AVA is an open-source platform for launching decentralized applications and new interoperable blockchains. 

AVA’s goal is to democratize financial markets by linking blockchains into an interoperable ecosystem, and the platform allows creating custom blockchains, public or private, and digitizing assets with complex rules. 

The platform has been built specifically for financial markets and has native trading support. 

This makes it possible, for example, to create a customized virtual machine and configure its operating rules at will, creating blockchains that adapt to the needs of applications. 

For instance, this allows issuing digital assets or digital representations of real-world assets, which comply with rules that can be created and customized at will, thus overcoming the limits imposed by other blockchains. 

Smart contracts of the AVA blockchain

In addition, the AVA engine allows launching smart contacts that are confirmed in a second, and which support thousands, or even millions of validators. 

At this moment the project’s public incentivized testnet is active, called Denali, during which the network is being tested under realistic conditions. This is the last phase before the launch of the mainnet. 

To date, the testnet contains 11 blockchains on 15 subnetworks, with over a thousand validators and over 400,000 AVA tokens being staked. 

The subnetworks, or subnets, are dynamic sets of validators working to reach consensus on the status of a set of blockchains. 

Each blockchain is validated by one subnet, while one subnet can validate multiple blockchains. Nodes can in turn be members of multiple subnets. 

For now, the project does not have its own token traded on the crypto markets, partly because it is still in the testing phase. In addition, it is expected that many tokens will be launched on the AVA blockchains, so when the mainnet is active there may be more than one traded on the exchanges. 

Furthermore, the platform itself has native trading support, so it is plausible that many of the token trades created with AVA will take place on the same platform. 

This is a technical and IT project at the service of traders in the financial world, with the aim of offering them higher performance, security and efficiency compared to the decentralized protocols already existing on the market. 

The Ava Labs team

The Ava Labs team consists of dozens of people, most of them computer scientists, of different nationalities, but based in New York. 

The project roadmap foresees the launch of the mainnet in July 2020, with the introduction of several new features that aren’t part of the testnet. 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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