Blockchain News Jun 26, 2020

Blockchain Ava Labs: all you need to know

AVA Labs is a project devoted to a decentralized funding based on blockchain that is supported by some companies in financial sector including Horowitz.

Novelty for blockchain developer and dApp

AVA is a platform with open source for launching decentralized applications and new compatible blockchains.

The main goal of the project is to democratize financial market though binding of blockchain with interoperable ecosystem. The platform allows to create own private or public blockchains and digitize the assets with complex rules.

It was developed especially for financial markets and it has built-in trading support.

For example, it allows creating adjustable virtual machine and establishing rules at will making blockchains that are adapted to needs of applications.

Furthermore, it enables issuing digital assets or tokens that can be created and configured at will thus overcoming limitations imposed by other blockchains.

Smart contracts on blockchain

In addition, AVA mechanism allows launching smart contacts in a second and maintaining thousands or even millions of validators.

At the moment, Denali testing network is active during which it is being tested in reality. It is the last phase before launch of the main network.

To date, test network contains 11 blockchains in 15 subnets in which more than a thousand of validators and more than 400000 AVA tokens are being played out.

Subnets represent dynamic set of validators working for consensus building of blockchains. Every chain of blocks is checked by one subnet and one subnet can check some blockchains. Nods, in its turn, can be members of some subnets.

Currently, the project doesn’t have its own token that would be traded among cryptos because it’s in testing stage. Moreover, it’s expected there will be a lot of tokens launched in AVA chains.

Once the core network is active, there can be more than one. In addition, the platform has built-in trading support and operations with tokens performed with the help of the instrument will be probably held on the same platform. It’s a technical and IT- project intended for traders in financial world with a view to proposing higher productivity, security and effectiveness in comparison with decentralized protocols available on the market.

AVA Labs team consist of dozens of people most of who are computer specialists of different nationalities but based in New York.

Road map of the project provide for launch of the core network in July 2020 with implementations of some new functions that are not a part of test network.