A blockchain protocol designed by one of the crucial distinguished blockchain students has launched a public testnet.
AVA Labs has its roots in Cornell College, the place its co-founder Emin Gün Sirer had been instructing for nearly 20 years. In 2003, he began Karma, the primary cryptocurrency to make use of a Proof-of-Work mechanism.
Web of worth
AVA co-founder Kevin Sekniqi informed Cointelegraph that one of the best ways to explain the brand new protocol is the “web of blockchains”.
One of many key options of this “empty framework” is that nearly any blockchain community can turn out to be interoperable with AVA. For example, there’s a fork of Ethereum working on the AVA engine referred to as Athereum, which, based on Sekhiniq, achieves a lot of the targets of Ethereum 2.0. Nonetheless, Sekhniq admits that it’s unlikely that the Ethereum crew will settle for Athereum as Ethereum 2.0.
Sekniqi described AVA’s aspirations to remodeling the movement of worth, much like the way in which the web remodeled the movement of knowledge:
“We wish to create an open ecosystem the place issues of worth are created and shared and moved round freely. And this stuff of worth could be currencies, could be belongings, could be gold, could be no matter it might be, any digital illustration of it. It could actually transfer round freely in the identical means that it strikes across the web, the identical means that e mail strikes round.”
In response to Sekhniqi, AVA can also be extra versatile than every other blockchain — customers can select who will get to handle, retailer and work together with their knowledge. He sums the crew’s accomplishments:
“So we have constructed this ecosystem the place you possibly can launch new blockchains, whether or not they’re permissioned or permissionless, it doesn’t matter. And so they can all interoperate with one another freely, and transfer worth round. And every one in all these deployed blockchains inside the AVA Web are working at blazingly excessive speeds.”
Lately, Ethereum co-founder and founding father of Cardano (ADA) Charles Hoskinson named AVA as one of the crucial promising tasks. The AVA mainnet launch is predicted in July, till then, the fans can “begin actively staking” on the testnet.
Cross-chain interoperability has been one of many hottest areas within the blockchain area, with a number of tasks like Polkadot and Cosmos attempting to deal with the problem. Solely time will inform whether or not AVA will turn out to be the one protocol to rule all of them.a
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