October 20, 2021 · 1 min read
The Novum Insightful Ep.9 - Ava Labs
Slow transaction speeds and high gas fees have plagued the Ethereum network for some time. As Jay Kurahashi-Sofue states on this week’s episode of the Novum Insightful:
“High gas-fees is one of the most common reasons for a lot of the projects that pour over to Avalanche - or just the slowness of other blockchains and their lack of scalability.”
Ava Labs are the creators of the Avalanche(AVAX) ‘layer 0’ blockchain. This ‘layer 0’ status stems from its ability to have layer 1 blockchains built on top of it.
The Avalanche blockchain allows platforms built upon its infrastructure a transactional throughput of more than 4500tps (transactions per second) which makes it significantly faster than Ethereum with a tps of 14. It has a unique proof-of-stake consensus mechanism and platforms on the avalanche ecosystem boast a time to finality of under 2 seconds - making it one of the fastest blockchians ever created by finality time.
Check out Ava Labs.