Avalanche announced the date for the mainnet opening today in the announcement it released in the afternoon. mainnet project with a dense mass of followers in Turkey will be operational on September 21.
Avalanche, an open source project developed specifically for decentralized finance (DeFi) applications, will have its mainnet on September 21st. Avalanche, which has been in development for over a year and has raised $ 60 million so far, will open its mainnet just at a time when the DeFi craze continues.
Alternative For Ethereum Based Applications
According to DeFi Pulse data, the total value of cryptocurrencies locked in DeFi projects is $ 8.92 billion today. The fact that this number, which was $ 1 billion until three months ago, has soared today can be explained by the DeFi craze.
Ava Labs has decided to open its own developed Avalanche platform in the middle of this DeFi craze. Avalanche’s mission is to serve Ethereum-based applications far better than what is available. According to the published blog post, these applications will be able to easily use Avalanche’s “high performance, secure and scalable” technology.
At this point, it can be positioned with platforms such as Avalanche Solana, which has entered the Ethereum-dominated DeFi industry as a competitor. Avalanche will compete with the high transaction costs of Ethereum with a capacity of 4,500 transactions per second.
“The Real Potential of Cryptocurrencies”
Ava Labs uses a technology called Avalanche Contract Chain, which is compatible with the Ethereum Virtual Machine. This facilitates the transition of Ethereum-based projects to the Avalanche network. Ava Labs CEO Emin Gün Sirer thinks this facility will be attractive for many projects. When the Avalanche team said on September 21 that the “true potential of cryptocurrencies will be revealed”, Sirer made the following statement:
“On Monday, a new era will begin for cryptocurrencies, blockchain platforms and decentralized applications. Avalanche is the biggest step taken in this sector following Satoshi’s invention. “