Crypto NewsAltcoinAVAX Introduces Evergreen to Connect Institutions with Blockchain

AVAX Introduces Evergreen to Connect Institutions with Blockchain

Ava Labs aims to eliminate the need for trust in communication between institutions.

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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.

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.”

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