Avalanche Launches ‘Evergreen’ for Institutional Blockchain Deployments
Avalanche Launches ‘Evergreen’ for Institutional Blockchain Deployments
Apr 9, 2023 / By Avalanche / 3 Minute Read
Sovereign, Layer 1 blockchains on Avalanche have the scale of public blockchains, with the security and control of private ones. Learn how we are helping onboard top enterprises onto web3.
Evergreen, an initiative by Ava Labs, is suite of institutional Avalanche L1 blockchain deployments, customizations, and tooling designed to address company-specific and industry-wide requirements for financial services. Crucially, Avalanche L1s maintain the benefits of public network development while enabling particular features historically only possible within enterprise solutions.
“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,” said Morgan Krupetsky, Director of Business Development for Institutions and Capital Markets, Ava Labs. “However, there continues to be a significant need for customization and control, particularly among institutional use cases. 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.”
Institutions are easily able to launch their own Avalanche L1s for either research and development purposes or production-ready use cases as they continue exploring blockchain benefits around process efficiencies, transparency, composability, asset tokenization, and more. With Avalanche L1s, institutions can pursue their blockchain and digital asset strategies in private, permissioned chains with known and approved counterparties, while retaining the ability to communicate and interoperate with other Avalanche L1s through Avalanche’s native communication protocol called Avalanche Warp Messaging (AWM). AWM provides a messaging layer that enables seamless on-chain asset swapping, data transfer, confirmations, and other types of intra- and inter-institutional communications without relying on third party intermediaries or bridges.
AVALANCHE L1s
Avalanche’s unique L1 architecture can empower everyone from individual builders and teams, to institutions and government agencies, to launch custom blockchains optimized for their specific use case. Avalanche L1s are seamlessly interoperable with the broader Avalanche network, but isolate traffic to dedicated infrastructure securing the chain, enabling Avalanche to scale without limits. Currently the Avalanche network already boasts several EVM-based L1 deployments on Mainnet and Testnet across industries and use cases, including DeFi, Gaming, NFTs, enterprises and institutions. A few examples include the Intain chain — a tokenized Asset Backed Securities (ABS) administration application and marketplace; the Dexalot chain — an on-chain central limit order book.
About Avalanche
Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchains with high throughput on both public and private networks.
Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralized applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.
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