Ava Labs, the main developer of leading blockchain network Avalanche, continues to roll out new products to bring the technology into the enterprise space.
Ava Labs officially launched Avalanche Evergreen Subnets, a subnet package to meet enterprise-specific requirements.
Introducing Avalanche Evergreen Subnets 🌲
Institutions want to leverage the power of public blockchain development, interoperability and composability while enabling features historically only possible with enterprise blockchains.
Evergreen gives them the best of both worlds👇 pic.twitter.com/EbziGmGrYY
— Avalanche 🔺 (@avalancheavax) April 6, 2023
Evergreen Subnet will allow companies to communicate based on blockchain using Warp Messaging, AVAX's native communication tool. Unlike other blockchain ecosystems, in AVAX, subnets operate almost independently.
What Will the New Subnet Do?
According to Avalanche's post, most financial institutions aim for privacy, often using closed box networks. However, this significantly limits interoperability, innovation and information liquidity. The Evergreen subnet, on the other hand, aims to solve the dilemma of companies.
Speaking to the crypto media after the launch, Ava Labs manager Morgan Krupetsky stated that many institutions already have to rely on tertiary bridges and Evergreen will eliminate this need:
“With Evergreen, companies will be able to communicate, transfer assets, and perform trade approvals without the need for trust.”
