The Avalanche development team at AVA Labs announced the release of Everest, a protocol that showcases the best of the Avalanche open-source platform ahead of its deployment on mainnet.
The open source platform Avalanche, designed by the team of developers at AVA Labs with the aim of providing an innovative system for decentralized finance ecosystems (DeFi) and interoperable blockchain, announced the launch of Everest, a version of the platform that will act as the final testing phase before its launch on the mainnet.
The project's development team informed the community that Everest has all the features of Avalanche, but also integrates special features and functions that allow optimizing all the platform's own processes. Likewise, the developers incorporated major improvements in terms of platform security and performance, to guarantee a unique experience for users.
In this regard, AVA Labs states that Everest does not disclose token balances for those users who participate in the AVAX token sale, nor does it display testnet rewards or platform rewards or who the beneficiaries are. The incorporation of these functions and features represent key and significant improvements to the development of the protocol.
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Features and functions integrated into Everest
The functions and features built into the project allow developers to Ethereum can take full advantage of the potential of the protocol for the design and creation of Tokens, smart contracts, block chains interoperable, among others, without the need to acquire new skills or knowledge in programming or coding. To achieve this, Everest integrates Avalanche Virtual Machine, a virtual machine compatible with the Ethereum Virtual Machine (EVM), and is capable of supporting transactions with AVAX tokens between all integrated networks or subnetworks, made up of all those private, public, permissioned or non-permissioned blockchains created in the protocol.
Likewise, Everest incorporates network upgrades with adaptive timeouts, allowing for lifetimes during longer delay periods and enhanced DDoS protection to ensure both network resilience and uptime. Meanwhile, the protocol also incorporates full non-fungible token (NFT) support functionality that allows developers to create and manage their own escrow services for NFT wallets.
Another of the important functions integrated into the protocol are the Bech32 addresses, since implementing this address format achieves a much easier and simpler reading format, reducing the possibility of errors on the part of the user. Likewise, the integration of end-to-end network testing and monitoring and the introduction of memos allow for ensuring network and database monitoring, as well as ensuring that transactions are correctly sent within shared wallets, such as those used in asset custody services.
For their part, Everest developers claim that Avalanche's C chain is compatible with all key tools of the Ethereum network, so this protocol can also be used to boost the growth of DeFi ecosystems developing on Ethereum, in addition to ensuring faster transaction speeds than on Ethereum.
“Everest showcases the best of Avalanche and marks the next step towards a new era of decentralized finance defined by speed, efficient use of capital, and innovation in new products and services for people around the world.”
About Avalanche by AVA Labs
Avalanche is an open source platform designed by AVA Labs for launching highly decentralized applications, new interoperable blockchains, and financial primitives on the Avalanche programming language. SolidityAvalanche also allows developers to create their own virtual machine, or design tokens, digital assets, or representations of real-world assets within the platform, tailoring each of these products to their own needs.
Creating smart contracts that confirm within a second and scale to thousands or millions of validators is also possible on Avalanche. This platform offers high levels of performance, scalability, security, and flexibility, allowing thousands of transactions per second with the participation of thousands or millions of users without any problems.
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