- Addresses on the Avalanche network grew by nearly 100% in 2023, according to Ava Labs president.
- Avalanche reportedly hosts 20 live subnets, with over 80 subnets expected to go live this year.
- Avalanche supports Amazon with emerging crypto companies needing computing power and storage.
According to John Wu, the President of Ava Labs, the number of addresses on the Avalanche network grew by nearly 100% in 2023. Wu made the statement during an interview with Tony Edward on the Thinking Crypto podcast. He also noted that the network currently hosts about 20 live subnets and over 80 subnets in the testnet environment that will go live this year.
Wu focused on improvements in the Avalanche that would enhance the network’s scalability, highlighting some significant partnerships that enhanced its growth. He emphasized that Avalanche is unique because it is a fast and scalable blockchain network. According to him, those properties result from the consensus protocol behind the project, which allows it to have instant finality.
Wu cited Vryx and HyperSDK as network elements allowing subnets to transact at 100,000 transactions per second (TPS). According to him, combining both elements with the Firewood storage solution enables the subnets to operate at a significantly high speed.
Speaking on Avalanche’s partnership with Amazon, Wu noted that his company helps the retail giant with emerging crypto companies or developers that need computing power and storage for Amazon Web Services (AWS). Essentially, Amazon introduces Avalanche to traditional enterprises that want to deploy blockchain-enabled solutions.
Wu mentioned his company’s partnership with traditional establishments like JP Morgan, where they implemented a TradFi-type crossover solution. He noted that the solution revolves around tokenizing alternative assets or speeding up settlements. According to him, those traditional establishments use the benefits provided to offer services to their users.
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