After much work from the entire team at Aventus, I am excited to announce that the main net Aventus Network (AvN) is now live.
The launch comes just one week following the success of the Aventus Validator Registration Program where Validators earn fees from transactions processed on the Aventus Network.
It’s all part of a new direction the company is taking as a second-layer scaling solution that lets organisations build on Ethereum without the typical limitations of scale, speed, and cost.
More use cases than ever before
This new direction opens up Aventus technology to a much broader market with increased use cases beyond just live ticketing.
The network lets organisations ranging from financial asset managers and supply chain coordinators through to customer rewards schemes and live entertainment companies to easily develop and implement efficient, highly secure and future-proof blockchain solutions.
The launch of the Aventus Network is the first major step in realising the company’s vision of helping organisations and decentralised platforms build on blockchain technology to enable growth long-term through aligned economic incentives that make transactions fairer, more transparent, and more affordable.
The Ethereum Network is brilliant but limited
Ethereum remains, and will remain, the network of choice for any organisation adopting blockchain technology as it offers a more secure way to make and monitor transactions than through traditional methods.
However, it is a victim of its own success and therefore extremely limited by the number of transactions possible per-second, high fees, and slow transfer times.
Alan Vey, co-Founder and CEO of Aventus, said:
“Several years of development and comprehensive testing in the making, AvN is built on the belief that Ethereum is brilliant — the philosophy of decentralisation, its high levels of versatility and security, and its incredible community of creative developers and enthusiasts. However, it’s limited, and we want to remove those limitations so that any organisation that could benefit from blockchain has the opportunity to.”
The main net Aventus AvN protocol mitigates Ethereum’s main challenges:
- AvN is 133X faster than Ethereum, scaling up to 2,000 transactions per second compared to Ethereum’s 15,
- The average transaction cost for organisations using AvN is $0.01 — less than 1% of the average Ethereum transaction fee,
- Token transfers are processed in 0.13 seconds by AvN — more than 100 times faster than Ethereum,
- As a layer-2 blockchain solution, Aventus combines the best of Ethereum’s highly secure distributed ledger with complete interoperability with future or existing blockchains.
AvN is also built with interoperability with other public blockchains into its foundations and long-term plans. To this end, Aventus will make its technology entirely open source for the developer community.
8.5m historic client transactions now passing through the Aventus Network (AvN)
Thanks to Aventus’ existing partnerships with Cashback App, Artos Systems, FanDragon Technologies, and VOW currency, the Aventus Network has begun processing the first of a minimum of 8.5m historical transactions.
As new client partners come on board, we expect to see this number increase dramatically — something echoed by Daniel Masters.
Daniel Masters, Executive Chairman of CoinShares, and an equity investor and Advisory Board member to Aventus, said:
“Aventus is at the cutting-edge of what can be achieved with blockchain and I am delighted to be supporting the project during this crucial time in its growth. With its huge potential and wide applications, I am excited to see how the Aventus network grows and develops over the coming months.”
For more information, please visit aventus.io.