New York, NY — March 11, 2020 — The codebase of the Avalanche platform has been released to the global community. As the “AWS of finance,” Avalanche aims to provide an advanced infrastructure for building decentralized finance (DeFi) applications, enabling anyone to launch their own blockchains with custom validators and issue assets under any required features and rulesets, including custom virtual machines and programmable legal compliance.
The Avalanche network enables both permissionless and permissioned blockchains to interoperate in a scalable way, similar to how the internet itself was built. It is also the first system to employ the Avalanche consensus protocol, which was initially unveiled in 2018 by the pseudonymous group, Team Rocket.
CEO of AVA Labs, Emin Gün Sirer, said:
“The release of the Avalanche codebase concludes the first phase of research and development for Avalanche, while also demonstrating the commitment to its open-source and decentralized community. Seeing the performance and security improvements made possible by the Avalanche protocol, other major cryptocurrencies, such as BCH, have announced plans to incorporate Avalanche or variants of it. The Avalanche platform has coupled this protocol with a revolutionary network model that enables the system to span permissioned and permissionless networks, making Avalanche the first and only true self-serve platform for new blockchains and digital assets.”
As a next step, AVA Labs has launched the Developer Accelerator Program (the AVA DAP) to foster engagement from the project’s growing community of creators, open-source developers, bug hunters, and security engineers. The program offers participants the opportunity to earn up to $50,000 per contribution and is intended to encourage feedback from the Avalanche community.
“As we get closer to our mainnet launch later this year, we invite anyone to identify and address any possible bugs or enhancement opportunities within the code,”
said Sirer.
“The release of the Avalanche codebase is an important milestone. For the first time, a blockchain platform will allow public and private applications to interoperate. Avalanche has the potential to become the global issuance platform for all digital assets, and this is possible only because of its unique architectural model,”
said John Wu, President of AVA Labs.
Avalanche can support millions of nodes and securely handle thousands of transactions per second. Its flexible and secure architecture enables anyone to launch their own blockchain — or subnetwork. Developers can launch custom public or private subnetworks with different scripting languages, virtual machines, validators, and rule sets — all while being plugged into one unified, interoperable framework. Additionally, they can create custom digital assets and capture complex business workflows via smart contracts. The Avalanche toolset includes a wallet, faucet, and libraries for building applications.
“Instead of one network with thousands of tokens, the Avalanche ecosystem is one platform with thousands of subnetworks and tokens on each subnetwork. We are truly excited to share the code with the broader blockchain community, and welcome any and all input,”
said Kevin Sekniqi, cofounder of AVA Labs.
About Avalanche:
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
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