Avalanche, the blockchain providing scalability to the world of decentralized finance, expired on September 21.

“From Snowflake to Avalanche, the decentralized platform has come a long way, and the journey is just beginning,” Ava Labs said in a statement issued on September 21 at the launch of the flagship network.

Ava Labs is the unit responsible for building the blockchain and the Avalanche project. Emin Gün Sirer, ranked 52 on the Cointelegraph’s Top 100 People in Crypto and Blockchain, is the CEO of Ava Labs.

The statement explains that Avalanche is using its own consensus protocol, paving the way for a blockchain capable of facilitating 4,500 transactions per second, or TPS. Current blockchain networks often have much lower TPS capabilities, which results in shorter transaction times and higher fees. In recent months, DeFi has put a lot of pressure on the Ethereum blockchain and has increased spending dramatically.

Avalanche presents itself as a win-win solution for everyone, from large companies to individuals and developers. The statement lists specific use cases for companies, institutions, decentralized organizations, developers, and shareholders with tokens.

Specifically, Avalanche received $ 42 million in financing from a public offering on July 15 and sold out in 4.5 hours. Sirer may be lending some credence to the project, having been quite public about his comments against fraud and noise in the crypto space and blockchain.

Source: CoinTelegraph