The first release allows participants to connect to a global network of validators and participate in high-velocity transactions.
Emin Gün Sirer, CEO of AVA Labs said:
“As an open-source project, we listen intently to the invaluable input of our active global community, and are building a solution that is driven by the demands of prospective users, one which enables permissionless and permissioned blockchains to scale and connect like never before.“
AVA seeks to be along the line with top payment processing companies with its thousands of transactions per second with a payment finality of under only two seconds. Powered by the cutting-edge Avalanche consensus protocol, AVA allows anyone to create both public and private smart-contract-enabled blockchains that interoperate.
Kevin Sekniqi, COO of AVA Labs:
“We are focused on creating the most functional and scalable blockchain possible. Our mission has always been to address the needs of the global financial market. We make it viable to integrate DeFi into traditional finance,” said
Industries ranging from payments, tokenization, digital identity, supply chain, and Internet of Things (IoT) are interested in AVA as a flexible DLT platform.
“Since exiting stealth mode last year, the team has been focused on building the most robust and secure network possible. Our mainnet launch is expected later this year. Opening the AVA testnet to the public just one year after operation signifies our commitment to delivering on our promises in a rapid manner. We welcome anyone to get involved, test the functionalities of the platform, and scrutinize the code.”
Developers and enterprises across the globe can now interact with AVA and begin building open finance applications on the public testnet.