John Wu, President of Ava Labs, said in an interview with Tony Edward on the Thinking Crypto podcast that the number of addresses on the Avalanche network surged by close to 100% in 2023. Wu also highlighted that the network currently boasts approximately 20 active subnets and over 80 subnets in the testnet phase, slated to launch later this year.
Wu underscored the advancements within Avalanche aimed at bolstering scalability, citing key partnerships that have contributed to its expansion. He emphasised the unique attributes of Avalanche, positioning it as a rapid and scalable blockchain network. Wu attributed these qualities to the underlying consensus protocol, which facilitates instantaneous finality.
In the interview, Vryx and HyperSDK were mentioned as integral components of the network enabling subnets to process transactions at a remarkable rate of 100,000 transactions per second (TPS). He explained that the combination of these elements along with the Firewood storage solution significantly enhances operational speed for subnets.
Regarding Avalanche’s collaboration with Amazon, Wu highlighted how his company supports the retail giant by connecting them with emerging crypto firms or developers in need of computational power and storage through Amazon Web Services (AWS). Essentially, Amazon serves as a gateway introducing Avalanche to traditional enterprises seeking to deploy blockchain-based solutions.
Wu also discussed his company’s partnership with established institutions like JP Morgan, where they have implemented a solution bridging traditional finance (TradFi) and blockchain technology. He outlined how this solution revolves around tokenizing alternative assets or expediting settlement processes, with traditional institutions leveraging these advantages to enhance services for their clientele.