Next Monday, September 21st, we will launch Avalanche to showcase the true potential of cryptocurrencies, blockchains, and decentralized finance (DeFi), just 16 months after exiting stealth mode.
Avalanche is the first smart contracts platform that delivers sub-second transaction finality, supports the entirety of the Ethereum virtual machine and development toolkit, and enables up to millions of independent validators to participate as full, block-producing nodes (Avalanche featured over 1,000 nodes operated by community members on its Denali testnet).
“Monday will mark the beginning of a new era for cryptocurrencies, blockchains, and decentralized applications. Avalanche is the first major breakthrough in our space since Satoshi’s leap forward, and we intend to follow in their footsteps to have the same, defining impact as we stand on the cusp of a new decade.” — Emin Gün Sirer, CEO of Ava Labs.
In addition to supporting sub-second transaction finality, Avalanche is capable of throughput orders of magnitude greater than existing blockchain networks (4,500+ transactions/second), and security thresholds well-above the 51% standards of other networks.
“Avalanche moves at the rapid pace of crypto markets and will offer the first compelling alternative to existing networks that either rely on centralization to perform or haven’t shown they can scale to market demand without incurring massive fees. We’re excited to be launching with an outstanding community around us, and look forward to fueling DeFi’s next boom.” — Kevin Sekniqi, COO of Ava Labs
At the beginning of September, DeFi applications on Ethereum peaked at $9.6B in total value locked, more than doubling the market’s size in under a month, according to DeFi Pulse. This incredible growth has validated the real interest in decentralized technologies, specifically within finance. Ethereum gas fees peaked at an average of $15 per transaction and the network was congested limiting participation to high-net-worth individuals and larger organizations.
Avalanche can help Ethereum-based applications achieve high-performance, security, and scalability without much change to their current workflow. The Avalanche Contract Chain (C-Chain) is an implementation of the Ethereum VM, meaning Solidity works out of the box to make porting over applications seamless.
“DeFi is emerging as an asset class with massive growth potential for individuals and institutions alike. Avalanche can, and I believe will be the network that brings that potential to reality by connecting these worlds and creating a new market structure defined by velocity, efficiency, and innovation in new products and services available to people around the world.” — John Wu, President of Ava Labs
The Avalanche ecosystem is continually growing and welcomes all decentralized applications looking for a blockchain solution to unleash their true potential and build without limits.
We’re starting the Avalanche. Now, it’s on all of us to show the world what it can do.
Note: If you participated in the AVAX public sale, please ensure your AVAX address is correct on the TokenSoft portal (buy.avax.network) by 12 p.m. ET this Friday, September 18. We are not able to change your receiving address after this date. If you miss this final deadline, we’ll be contacting you after the mainnet launch to send your tokens.
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.