Avalanche, an AVA Labs project, is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem.
AVA Labs enables higher performance, security, and efficiency over previous decentralized protocols.
Avalanche was founded in 2018 by Emin Gün Sirer, Kevin Sekniqi, and Ted Yin. The company is headquartered in Singapore.
Avalanche finalizes transactions in about a second and clears thousands per second. This makes high-volume P2P payments and asset transfers a reality. The platform can accommodate thousands to millions of participants.
Avalanche is solving the biggest challenges in blockchain technology, and is poised to launch a resilient system that is fast, secure, and efficient. The platform has launched Denali Testnet, which had more than 1,000 full block producing nodes actively staking and participating in the consensus protocol.
Avalanche is backed by Polychain, Galaxy Digital, Three Arrows Capital, Bitmain, Initialized Capital, NGC Ventures, Dragonfly Capital, Republic Crypto, CMS Holdings, and others. The company raised $230M in an ICO round on Sep 16, 2021. This brings Avalanche's total funding to $290.1M to date.