U.S.-based blockchain platform AVA announced on Friday it has launched its first of two planned public testnet releases. According to AVA, the first release allows participants to connect to a global network of validators and participate in high-velocity transactions.
“AVA enables developers to deploy subnets (blockchain networks), private or public, which implement custom execution environments to fit their development needs — all while supporting fast cross-subnet swaps. AVA allows for partitioning of private data away from the rest of the AVA network while still being a member of the overall network, thus enabling a rich and complex set of privacy and data provisioning use cases that other platforms simply do not. Furthermore, with fast decision times and modest hardware requirements, AVA powers a system that can accept many times the data and productive yield that existing decentralized systems provide at a low cost to the end user.”
AVA further noted that its blockchain platform is designed to be backward-compatible with out-of-the-box support for existing Ethereum-based DeFi applications. Migrating decentralized applications to AVA grants open finance the power to deliver its promise to a mainstream audience.
AVA went on to add that The release of the public testnet enables the platform’s capabilities to be trialed ahead of its mainnet launch later this year.