What is Avalanche and how does it work?

Avalanche is a flexible smart contract platform for creating custom blockchain networks and decentralized applications (especially those focused on DeFi). Launched in 2020 by Ava Labs, Avalanche is an Ethereum competitor that facilitates the creation of custom blockchains (including private blockchains) and decentralized applications (dApps).

Who is Ava Labs working with?

Ava Labs, the company behind Avalanche, is working with big-name companies across the finance and crypto industries. Here are highlights of the deals and partnerships Ava Labs has set up so far: Mastercard(NYSE:MA) chose Ava Labs for its Start Path Crypto program.

Who invented Avalanche blockchain?

Researchers at Cornell University, led by computer scientist and blockchain expert Emin Gün Sirer, developed the idea. They created the Avalanche blockchain network and a technology company called Ava Labs to manage it. AVAX tokens were first sold through a seed sale in February 2019.

What is the Avalanche multiverse?

The initiative, the Avalanche Multiverse, will incentivize developers to create fully-customizable, application-specific networks on the Avalanche blockchain. Theoretically, subnets could allow entire crypto networks, like Bitcoin or Ethereum, to exist on Avalanche, while still using their own cryptocurrencies.