The AVA Labs Team made a number of achievements and announcements during the month of May.
1. Financing Round Declared
In February, AVA Labs secured a $6 million funding round from distinguished figures in venture capital and the crypto world, including Andreessen Horowitz, Polychain, ex-Coinbase CTO Balaji Srinivasan, MetaStable, Initialized Capital, Naval Ravikant and Ramtin Naimi of Abstract Ventures.
2.“Alpine Snowstorm” — Private Testnet
At TOKEN SUMMIT 2019, the launch of Alpine Snowstorm took place. It included:
- Payments
- Issuance of digital assets
- Governance
Currently, we are concentrating on building alliances and welcoming app engineers, and have been inundated with demands.
3. Benchmarks
The performance of Avalanche’s private testnet is approaching that of Visa’s, with thousands of transactions per second at the foundation layer.
With 1000 nodes hosted on Amazon AWS — Avalanche benchmark peaked at 6500 TPS and stabilized at 5000 TPS.
4. Events
4.1 Token Summit — NY Blockchain Week 2019
Exactly twelve months ago, in 2018, Prof. Emin Gün Sirer of AVA Labs went to Token Summit and made a declaration regarding a new metastable consensus protocol and the plans to construct Avalanche.
At the Token Summit one year later, on May 16th, 2019, Prof. Sirer gave an update on the progress of their work and presented a more detailed description of AVA Platform as “A Platform of Platforms”.
4.2 San Francisco Meetup at Starfish
At Starfish in San Francisco, Kevin Sekniqi (Co-founder and Chief Protocol Architect) and Phillip Liu Jr. (Head of Strategy and Operations) both presented.
Click to Watch: https://www.youtube.com/watch?v=GKkGt-DtdAM
4.3 Cryptocopia Live AMA — Scalable and Probabilistic Leaderless BFT Consensus through Metastability
Cryptocopia hosted a live AMA session with Prof. Sirer to discuss Avalanche.
Click to Watch: https://www.youtube.com/watch?v=tavO6KopNXI
Please join AVA Labs’ social channels to stay up-to-date with our progress.
About AVA Labs
AVA Labs enables the development of financial applications based on blockchain technology with highly performant and efficient networks, customizable public and private blockchains, the ability to create any virtual asset, and more. We are providing people with the tools to create an open, straightforward, and democratic world of finance.
