Ethereum (ETH) Competitor Launches Institutional-Focused ‘Subnets’, Rolls Out New Upgrade on Testnet

0 0

knife

Avalanche (AVAX) is unveiling a new suite of subnets specifically designed for financial institutions just as the layer-1 blockchain’s Cortina upgrade goes live on the testnet.

In a statement, Avalanche creator Ava Labs announces the launch of the Evergreen subnet, a network of tools for blockchain deployment and customizations that financial firms can use for research and development purposes as well as production-ready use cases.

The Evergreen subnet uses Avalanche’s native communication protocol Avalanche Warp Messaging (AWM), which allows blockchains on different subnets to communicate with each other without a third-party intermediary, giving institutions operating on private chains public network capabilities.

Says Ava Labs director of Business Development for Institutions and Capital Markets Morgan Krupetsky,

“Thus far, financial institutions’ enterprise blockchain applications have been hindered by a walled-garden approach that, among other things, restricts liquidity and interoperability from initiative to initiative.

The Avalanche network ultimately offers a perfect synthesis of the strengths of public and private blockchains, which is why we’re so thrilled to debut Avalanche Evergreen.”

Avalanche also rolled out the latest Cortina upgrade on Thursday. The Ethereum (ETH) challenger says that this updated version of AvalancheGo makes its X-chain compatible with the AVM and will allow exchanges to more easily support its default asset blockchain.

“This unblocks the integration of Avalanche Warp Messaging (AWM) on the X-Chain and makes it much easier for exchanges to support the X-Chain, which will contain many of the staking tokens used on Elastic Subnets.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Check Price Action



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix


Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dotted Yeti/Nikelser Kate

The post Ethereum (ETH) Competitor Launches Institutional-Focused ‘Subnets’, Rolls Out New Upgrade on Testnet appeared first on The Daily Hodl.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 27,077.25
ethereum
Ethereum (ETH) $ 1,889.92
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 306.64
usd-coin
USD Coin (USDC) $ 0.999677
xrp
XRP (XRP) $ 0.516825
staked-ether
Lido Staked Ether (STETH) $ 1,889.16
cardano
Cardano (ADA) $ 0.375875
dogecoin
Dogecoin (DOGE) $ 0.072032
solana
Solana (SOL) $ 21.12
matic-network
Polygon (MATIC) $ 0.901369
tron
TRON (TRX) $ 0.076577
litecoin
Litecoin (LTC) $ 94.27
polkadot
Polkadot (DOT) $ 5.25
binance-usd
Binance USD (BUSD) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.44
dai
Dai (DAI) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,110.26
uniswap
Uniswap (UNI) $ 5.06
leo-token
LEO Token (LEO) $ 3.59
chainlink
Chainlink (LINK) $ 6.38
cosmos
Cosmos Hub (ATOM) $ 10.57
okb
OKB (OKB) $ 46.17
monero
Monero (XMR) $ 146.72
ethereum-classic
Ethereum Classic (ETC) $ 18.09
the-open-network
Toncoin (TON) $ 1.73
stellar
Stellar (XLM) $ 0.092183
bitcoin-cash
Bitcoin Cash (BCH) $ 114.31
filecoin
Filecoin (FIL) $ 4.92
internet-computer
Internet Computer (ICP) $ 4.79
true-usd
TrueUSD (TUSD) $ 0.999594
lido-dao
Lido DAO (LDO) $ 2.29
aptos
Aptos (APT) $ 9.10
quant-network
Quant (QNT) $ 118.75
hedera-hashgraph
Hedera (HBAR) $ 0.050741
arbitrum
Arbitrum (ARB) $ 1.24
crypto-com-chain
Cronos (CRO) $ 0.059433
near
NEAR Protocol (NEAR) $ 1.60
vechain
VeChain (VET) $ 0.019967
the-graph
The Graph (GRT) $ 0.132561
apecoin
ApeCoin (APE) $ 3.11
algorand
Algorand (ALGO) $ 0.151151
the-sandbox
The Sandbox (SAND) $ 0.561437
paxos-standard
Pax Dollar (USDP) $ 1.00
eos
EOS (EOS) $ 0.907483
edgecoin-2
Edgecoin (EDGT) $ 1.00
frax
Frax (FRAX) $ 0.998327
elrond-erd-2
MultiversX (EGLD) $ 37.61
rocket-pool
Rocket Pool (RPL) $ 49.35
render-token
Render (RNDR) $ 2.60
aave
Aave (AAVE) $ 63.99
optimism
Optimism (OP) $ 1.43
fantom
Fantom (FTM) $ 0.319723
decentraland
Decentraland (MANA) $ 0.483132
theta-token
Theta Network (THETA) $ 0.85674
blockstack
Stacks (STX) $ 0.613375
tezos
Tezos (XTZ) $ 0.898482
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,030.09
axie-infinity
Axie Infinity (AXS) $ 7.05
immutable-x
ImmutableX (IMX) $ 0.767428
flow
Flow (FLOW) $ 0.725952
havven
Synthetix Network (SNX) $ 2.38
usdd
USDD (USDD) $ 1.00
neo
NEO (NEO) $ 10.40
bitdao
BitDAO (BIT) $ 0.50141
gala
GALA (GALA) $ 0.030147
kucoin-shares
KuCoin (KCS) $ 7.40
whitebit
WhiteBIT Token (WBT) $ 4.91
radix
Radix (XRD) $ 0.068645
curve-dao-token
Curve DAO (CRV) $ 0.84218
bitget-token
Bitget Token (BGB) $ 0.473125
injective-protocol
Injective (INJ) $ 7.98
bitcoin-sv
Bitcoin SV (BSV) $ 32.59
gatechain-token
Gate (GT) $ 4.36
conflux-token
Conflux (CFX) $ 0.286666
maker
Maker (MKR) $ 665.09
klay-token
Klaytn (KLAY) $ 0.185363
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
bittorrent
BitTorrent (BTT) $ 0.00000058525681
iota
IOTA (MIOTA) $ 0.199057
kava
Kava (KAVA) $ 1.01
chiliz
Chiliz (CHZ) $ 0.102171
pepe
Pepe (PEPE) $ 0.000001
casper-network
Casper Network (CSPR) $ 0.047132
pax-gold
PAX Gold (PAXG) $ 1,976.72
tokenize-xchange
Tokenize Xchange (TKX) $ 6.36
sui
Sui (SUI) $ 0.948867
xdce-crowd-sale
XDC Network (XDC) $ 0.036216
terra-luna
Terra Luna Classic (LUNC) $ 0.000085
compound-ether
cETH (CETH) $ 38.04
mina-protocol
Mina Protocol (MINA) $ 0.539731
gmx
GMX (GMX) $ 55.57
tether-gold
Tether Gold (XAUT) $ 1,970.50
huobi-token
Huobi (HT) $ 2.98
ecash
eCash (XEC) $ 0.000025
frax-share
Frax Share (FXS) $ 6.65
dash
Dash (DASH) $ 42.36
trust-wallet-token
Trust Wallet (TWT) $ 1.07
frax-ether
Frax Ether (FRXETH) $ 1,889.84