Blockchain, Smart Contracts Platform Avalanche Introduces ‘Evergreen’ Subnets for Institutional DLT Deployments

Ava Labs has announced the launch of Avalanche Evergreen Subnets, a suite of institutional blockchain deployments, customizations, and tooling designed to address company-specific and industry-wide requirements for financial services.

Crucially, Evergreen Subnets “maintain the benefits of public network development while enabling particular features historically only possible within enterprise solutions.”

Morgan Krupetsky, Director of Business Development for Institutions and Capital Markets, Ava Labs, said:

“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. 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 Evergreen Subnets 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 Evergreen Subnets, 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 Subnets 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.”

As explained in a blog post, Avalanche’s unique Subnet architecture “can empower everyone from individual builders and teams, to institutions and government agencies, to launch custom blockchains optimized for their specific use case.”

Subnets 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 Subnet deployments on Mainnet and Testnet across industries and use cases, including DeFi, Gaming, NFTs, enterprises and institutions.”

A few examples “include the Intain Subnet — a tokenized Asset Backed Securities (ABS) administration application and marketplace; the Dexalot Subnet — an on-chain central limit order book; and the Deloitte Subnet — a platform for more efficient FEMA fund disbursements.”

As covered, Avalanche is “a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second.”

Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit “enable Web3 developers to easily launch powerful, custom blockchain solutions.”

Sponsored Links by DQ Promote



Send this to a friend