A blockchain protocol designed by one of the crucial outstanding blockchain students has launched a public testnet.
AVA Labs has its roots in Cornell College, the place its co-founder Emin Gün Sirer had been educating for nearly 20 years. In 2003, he started Karma, the primary cryptocurrency to make use of a Proof-of-Work mechanism.
Web of worth
AVA co-founder Kevin Sekniqi advised Cointelegraph that one of the simplest ways to explain the brand new protocol is the “web of blockchains”.
One of many key options of this “empty framework” is that just about any blockchain community can change into interoperable with AVA. As an illustration, there’s a fork of Ethereum operating on the AVA engine referred to as Athereum, which, in response to Sekhiniq, achieves many of the targets of Ethereum 2.0. Nonetheless, Sekhniq admits that it’s unlikely that the Ethereum crew will settle for Athereum as Ethereum 2.0.
Sekniqi described AVA’s aspirations to reworking the circulation of worth, much like the way in which the web remodeled the circulation of knowledge:
“We wish to create an open ecosystem the place issues of worth are created and shared and moved round freely. And this stuff of worth will be currencies, will be property, will be gold, will be no matter it might be, any digital illustration of it. It may well transfer round freely in the identical manner that it strikes across the web, the identical manner that e mail strikes round.”
Empty framework
In keeping with Sekhniqi, AVA can also be extra versatile than some other blockchain — customers can select who will get to handle, retailer and work together with their knowledge. He sums the crew’s accomplishments:
“So we have constructed this ecosystem the place you possibly can launch new blockchains, whether or not they’re permissioned or permissionless, it doesn’t matter. And so they can all interoperate with one another freely, and transfer worth round. And every one in every of these deployed blockchains inside the AVA Web are operating at blazingly excessive speeds.”
Just lately, Ethereum co-founder and founding father of Cardano (ADA) Charles Hoskinson named AVA as one of the crucial promising tasks. The AVA mainnet launch is predicted in July, till then, the fans can “begin actively staking” on the testnet.
Cross-chain interoperability has been one of many hottest areas within the blockchain area, with a number of tasks like Polkadot and Cosmos making an attempt to sort out the problem. Solely time will inform whether or not AVA will change into the one protocol to rule all of them.a
