AVAX Introduces Evergreen to Connect Institutions with Blockchain

Lead developer of leading blockchain network Avalanche Ava Labscontinues to introduce new products to bring technology to the corporate field.

Ava Labs announced yesterday that a subnet package has been developed to meet company-specific requirements. Avalanche Evergreen Subnets launched.

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. Other blockchain Unlike other 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.”