Ava Labs Launches Avalanche Core Network

The long-awaited Avalanche mainnet launch has finally taken place.

On September 22, the Ava Labs team announced the launchAvalanche blockchain main network. In July of this year, the project managed to raise $45 million from investors, and another $15 million was collected a little earlier. 

Ava Labs CEO stated:

Avalanche goal – allow new systems to work. This is currently not possible as transactions are too slow.

Avalanche – this is a PoS blockchain, which, according toAccording to the creators, it can process up to 4500 transactions per second. The blockchain consists of a main network and so-called “subnetworks” – secondary blockchains that support the main network.

These subnets can be configured for specificuser needs (for example, they can be both private and public). AVAX validators can choose to confirm or ignore transactions from any subnet. In order to become an Avalanche validator, the user must block at least 2000 AVAX.

In the first two hours of trading on the Binance exchange, the price of AVAX soared by 650% – from $0.85 to $6.45. 

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