State of Avalanche Telegram AMA with the Ava Labs Team on December 3, 2020
Read the entire transcript of the State of Avalanche Telegram AMA on December 3, 2020 from 11AM to 12PM ET.
Yesterday on December 3rd, the Ava Labs team hosted an AMA on the official Avalanche Telegram. 15 Ava Labs team members joined in to answer the community’s questions and talk about the “State of Avalanche: Since Mainnet and the Next Year Ahead”. Below is a full recap of the discussion. If you’re looking for something specific we recommend using the Ctrl/Cmd + F function to find what you are looking for. Thanks again to everyone who participated in the AMA. We look forward to hosting another AMA and other community discussions in the near future!
Q: Avalanche Staking & Delegation Proposal
A few days ago, a survey was held in the Avalanche forum to obtain feedback from the Avalanche community on the general staking requirements for independent validators and minimum rates for delegations, resulting in 500 AVAX and 10% respectively.
Will the Ava Labs team implement the outcome of the poll in question?
A: This question has been pretty extensively discussed in the forum, and by this time it looks like the community pretty consistently agrees on lowering both. I think these changes will be implemented with Apricot. However, going forwards we need to poll based on a more sophisticated process that takes into account both stake and stake duration of a voter. Core devs have this feature on the backlog, but I think for the sake of iterating quickly and fixing obvious pain points, we will just proceed with lowering these parameters according to the polls.
Q: Should the first major update of the Avalanche project, called Apricot, be implemented in 2020?
A: Very likely Apricot comes out this month. It’s important especially for that large asset class that I’ve alluded to.
Q: What about the forthcoming pruning scheme (apart from “it will be great”)? How will it help reduce the humongous volume to be expected from this high-performance network when it’s used for real, while still being able to find that special, year-old tx you want to examine?
A: Currently, every node on the network is essentially an archival node. Pruning will enable running a non-archival node. This will reduce the bootstrapping times to be dependent only on the current state of the network, rather than the full history of the network. Additionally, this will reduce the node’s storage requirements. It will still be possible to run archival nodes to inspect old transactions. As the transaction volume increases, these archival nodes will need to start hooking up to their own scalable database systems.
Q: My question is for Jay Sofue @jayksofue and the marketing team. Do you have a plan for promoting the avalanche and AvaLabs Twitter accounts’ tweets on Twitter? Like paid advertisements and so on. Many other projects are doing it, I think it might be helpful for the growth of the platform. Thank you.
A: Paid advertising is, of course, something that is considered. The main thing we have been focusing on this year is to make sure all of our owned channels are fully optimized. This means that all social channels, Telegram channels, Discord, etc. make it easy for anyone to find answers to any questions they may have. We are also continuing to improve upon Avalanche to make sure the product is easy to build on.
You’ll see from the marketing side, we’ve implemented a few recent improvements within the developer journey: brand-new dev docs, a brand new forum to capture conversations around Avalanche and the community channels.
With paid ads, you don’t want to just pay one channel and call it a day. Instead, the most impactful approach is to identify your target audience. Ours is primarily developers and crypto enthusiasts. Then, you figure out how they go from not knowing Avalanche to knowing it (this is referred to as the marketing funnel or customer journey). Once you understand what their behaviors are, then you send communications and paid marketing from all sides.
For example, a developer may go to Google to find out more about blockchain. We should be there with a Search Engine Marketing (SEM) ad. And then maybe, this person may go to YouTube to fill in the knowledge gaps. So there, we should have a robust set of educational content, so we are used as thought leaders and resources. Maybe they might now explore what Ava Labs and Avalanche are all about. Once they visit our site, we can also retarget them using socials (paid). You see how paid is used more as a tool to boost our presence in specific channels. All of this must be tied to our brand strategy. Many of these learnings I take away from my experience at Ogilvy running marketing strategies for finance, tech, and blockchain brands.
Q: What do you consider are the most important characteristics of Avalanche that make the difference related to the other platforms?
A: We consider Avalanche to be Blockchain 3.0 technology which has 4 characteristics that set it apart from previous platforms.
A. Instead of being a single blockchain and a single set of validators/miners, Avalanche is a heterogeneous network of many different blockchains and validator sets.
B. On Avalanche, you launch your Dapp as a Virtual Machine instead of a smart-contract. Technically speaking a Virtual Machine is a State Machine. This includes your blockchain state, a state transition function, transactions, and an API through which users can interact with your blockchain. More generally speaking, a Virtual Machine is the application-level-logic of your blockchain. We don’t put many restrictions on what you can do with your Virtual Machines. A blockchain is an instance of a virtual machine. Another way to say it is that a blockchain runs a virtual machine.
C. Blockchains on Avalanche are validated by subnets. A subnet is a dynamic set of validators working together to come to a consensus on the state of a set of blockchains. 1 blockchain is validated by exactly 1 subnet. 1 subnet can validate many different blockchains, including many instances of the same virtual machine. 1 validator can belong to many different subnets, public and private, validating many different blockchains, including many instances of the same virtual machine.
D. Avalanche consensus is a paradigm shift in the field of consensus. It’s highly scalable and decentralized, has high throughput and fast finality is green and quiescent, and performs well in adversarial conditions.
Q: What do you consider is the big challenge that Avalanche should pass in the next year?
A: Currently, many people have labeled Avalanche as an “Ethereum Killer” and we need to overcome that idea. Avalanche is the “Internet of Finance.” We’re a global financial network for the issuing and trading of all digital goods. We enable millions of validators to process thousands of transactions per second with near-instant finality, and we do that using a protocol that is totally green and quiescent. We paired this high throughput and fast finality protocol with an architecture that can meet the needs of unique financial products and decentralized apps. We accomplish this through subnets which enable anyone anywhere to spin up a tailor-made network w/ custom virtual machines and complex validator rulesets. Avalanche is a network of networks w/ compound network effects.
Q: How could you use a person that is not a technician, this platform, and this technology?
A: In the same way that the web, though highly technical, through many layers of abstraction has become incredibly useful and valuable to non-technical users as it’s come to represent the totality of all human knowledge, Avalanche, as the Internet of Finance, will end up empowering people all over the globe to have more universal and democratic access to modern financial
Q: We are always talking about future projects on Avalanche, yes, of course, these are very important for Avalanche’s awareness and usability, but does Avalanche have any plans to directly attract communities for a wider use rather than a narrow group?
A: It is crucial to our success in offering products that are useful not only to the niche crypto community but also to a broader market. Because of the flexibility of our platform, we anticipate that tools serving a variety of use cases, including traditional finance, will be developed on Avalanche.
Q: We know that Avalanche is 3 times faster than VISA in terms of the number of transactions. Yes, that seems to be enough right now. We know the scaling and other challenges that occur in Ethereum. At this point, when we look at Avalanche’s goals, do you think that these current capabilities have the potential to fall short in the future, and is it also a platform that is open to development to overcome these future challenges?
A: The Avalanche Consensus Protocol is currently a database bound process. So with future optimizations, which we’re already working on with Ted Yin’s CedrusDB, Avalanche will be able to scale even further.
Q: Which are the top 100 projects who are planning to come on Avalanche?
A: Integrations take time, but if you know anyone at these projects or are actively engaged in their communities, let them know you want to see them on Avalanche — we want them all!
Q: The wallet.avax.network works just fine and the unbeatable privacy and security protection is so awesome. Can we expect a wallet app that we can use using our android/iOS devices before this year ends? If not, is it under development?
A: It won’t make it before the year’s end but there is work under development for both mobile and native desktop wallets.
Q: What are your priorities when looking for a partner?
A: When considering partners, we like to think about it with some of these questions:
- Will this drive developer or user adoptions on the platform?
- How many resources are needed to make the partner successful? If we devote resources, will that distract us from other priorities?
- Is this partner aligned for the long-term?
These are just a few questions and thoughts that we think about when pursuing or evaluating potential partners.
Q: Do you intend to join a few blockchain associations in order to grow the reach of Avalanche technology?
A: Yes! One association we can share is the blockchain research institute, created by Don Tapscott.
As you know, the great thing about these groups is that other members (many in the fortune 500) are very interested in new technologies and it’s a great way to educate large companies about the benefits of a system like Avalanche and how it can help improve their current business processes.
Also forgot to mention Lacchain, an Interamerican Development Bank initiative, we joined earlier this year.
Q: Hello Avalanche team and all, I am interested in the process of changing the main functions of the Avalanche Protocol. Taking into account the Apricot update I want to ask whether the Avalanche community of validators and delegates can somehow participate in the process of accepting these proposals as for example in Tezos blockchain (their validators can vote for any planning proto updates and I think is good for all)? Or only the Avalanche Devs team has the right to make proposals for improving the Protocol?
My second question is about privacy: why does the Avalanche Protocol use RPC data about location (ip address and name internet provider) of validators and for what? I sincerely believe that you can do without this data, but apparently, the team believes otherwise, please tell us how it can be useful? Personally, I see more disadvantages than advantages to this. Thanks
A: Governance is planned to be added to the P-chain for specified parameters, such as the minimum staking amount. During the initial planning of how the network would function, we felt that general on-chain governance was going to result in too vague of a network description. We wanted validators and partners to feel comfortable running our software. This is also why our team has been vocally against slashing.
As for who could propose upgrading the protocol, anyone can either propose a PR to the AvalancheGo repo, fork the AvalancheGo repo, or write a new implementation from the ground up. At the end of the day, what matters is what the code running on the validators says to do. Not what the ava-labs/avalanchego repo says.
Distributed protocols require nodes to be able to communicate with each other. The internet uses IP addresses to be able to send these messages. This is why the nodes track IP addresses. The nodes don’t track the name of the internet provider.
Q: How do two subnets interoperate at the moment? Is it possible to do atomic operations between them?
A: Currently subnets are totally isolated. In the future, it could be possible for them to communicate through the primary network but currently they provide complete segmentation of chains.
Q: ETH Bridge status? Live target date for launch?
A: The bridge is currently in testing with our partners. We expect the bridge to be ready for launch around the end of December / early January. Feel free to refer to our blog post for more info.
Q: Can Nfts be accepted as legal documents as land deeds, or company equities, other than being just collectibles or artworks, any legislation or legal ground is required? Is the team working on anything like that?
A: Yes, NFTs are identity documents. They are property that is unique and non-fungible.
We have a really cool product coming out which will use NFTs as identity badges, but that remains anonymous. So, for example, you can get an NFT that identifies someone as a French citizen, and then they can use that NFT to identify themselves without showing their identity.
Q: Can you give us an idea about the Novel Blockchain features behind Apricot which will become a major upgrade to Avalanche?
A: The Apricot upgrade will include a number of important features. First, we’re adding epochs to the X-Chain to support future network upgrades. Epochs provide a linear ordering of what vertices have been accepted in a given time period. This enables better support for governance parameters and cool new features, such as freezable assets (which will also be included in the Apricot release).
On the C-Chain, we’re adding new calls to support using native Avalanche assets within the EVM. These changes will enable users to wrap native Avalanche assets into ARC-20s, so that any dApp that uses ERC-20s will be interoperable with native Avalanche assets.
Q: I read john Wu articles on médium about avalanche related to sports markets, I found them very interesting
Do you have avalanche plans to create and develop a partnership with the world companies that handle the sports bet market? Is this in the plans?
A: Yes we are working on partnerships with companies in the sports world. Please stay tuned.
Q: Will the avalanche side have any views on the trendy phenomenon of DEFI? will avalanche make strategic adjustments in DEFI related aspects, and do you have relevant deployments?
A: We love Defi! We’ve designed the avalanche platform to be Defi friendly since the beginning (having full support of the EVM) and we believe that the high throughput and low latency and fees will attract many of the exciting new projects to come and build on avalanche. Some of which are already in the pipeline. As you might have noticed, we have already deployed an AMM on the C-Chain.
Q: Can we expect more transparency on which wallets are owned by the Avalanche Foundation?
A: You already can do that. Foundation is locked for 10 years so all UTXOs belonging to the foundation can be traced.
Q: When can we expect a high TPS stress test to be done on the mainnet? All metrics so far (4500 tps, <1s finality, etc) seem to only have been validated on testnet.
A: We could launch a test as early as now, but I think it’s prudent to not bombard the network yet with such high numbers and steadily allow it to increase organically.
Q: Biggest remaining challenges?
A: Oh so many. Biggest one for me I’d say is launching a major non-crypto asset on Avalanche, thus paving the way for a big asset issuance catalyst.
Q: Are there any plans to develop/integrate 2. gen oracles (e.g., Oracle Pools, API3) that are much superior to Chainlink tech-wise?
A: We are open to integrating anything and everything. Our teams are very close with Chainlink, and therefore, they were the first oracles project that we engaged.
Q: How is the avalanche team working to become known among the different financial industries and demonstrate the great capacity that this technology has and what can be achieved in combination with other projects? Can you also tell us about the aspirations they have in the next future?
A: Great question, and something that is especially exciting to me as I came into crypto from institutional finance back in 2014. Our team has a strong mix of being crypto-native but also understanding what the pain points are for Wall Street and institutions (many of my colleagues also followed the same path).
Having represented institutions and tech companies working with them in this space, I can say a key sticking point of adoption over the years has been that they need more control and flexibility over their implementation. They’ve also been told that blockchains have to be slow and unscalable.
These are businesses and technologists used to tweaking every little aspect of their stacks to improve performance and get the smallest edge over their competitors. They also have to do find those advantages compliantly. Avalanche is the first layer 1 that can give them that control on both the network and asset levels, with subnets and custom asset configurations.
Now that mainnet is live, we’re able to show them those features and disprove these misconceptions.
Q: It is said that Avalanche adopted the features of Classical Consensus and Nakamoto Consensus. What are those key features that make Avalanche more efficient than any other cryptocurrency?
A: Classical consensus has high throughput, fast finality and it’s lightweight/green/quiescent. However it doesn’t scale well, isn’t robust and decentralized, and doesn’t perform well in adversarial conditions. Nakamoto consensus is decentralized and robust but it has low throughput, a handful of txs per second, has slow finality, around an hour before you can be confident that your tx has settled, and isn’t lightweight or green, the BTC network consumes more energy daily than some nation-states. Avalanche consensus represents a breakthrough in distributed systems. It has the best features of both Classical and Nakamoto consensus. Avalanche consensus is scalable and robust, has very high throughput, thousands of txs per second, has extremely fast finality, oftentimes less than a second, and your tx is settled. It also is green, lightweight, and quiescent. It can be run on a Macbook, PC, VPS droplet on the cloud, and even a Raspberry Pi. It also performs well in adversarial conditions.
Q: What would be the goal of Avalanche next year and for the coming years? Is there any reason for us to hold $AVAX long term?
A: Avalanche is the Internet of Finance. We believe that in the same way that the Web has come to represent the totality of human knowledge and has had a profound impact on the human condition, so too will Avalanche, as it matures to represent the Internet of Finance, have a huge impact on the lives of humans all over the planet. We envision thousands and thousands of public and private networks all emerging into a global marketplace. These networks will touch on all aspects of finance including assets issuance and management, identity, and much more.
Q: Why choose PoS rather than PoW? Is it more reliable or more secure?
A: To resist Sybil attacks, a decentralized network must require that network influence is paid with a scarce resource. This makes it infeasibly expensive for an attacker to gain enough influence over the network to compromise its security. In proof-of-work systems, the scarce resource is computing power. On Avalanche, the scarce resource is the native token, AVAX. For a node to validate a blockchain on Avalanche, it must stake AVAX.
Q: Is there some stablecoins coming on Avalanche? How will they work?
A: BiLira is one stablecoin project that is actively getting ready for launch. We announced our collaboration with them earlier this summer. More major stablecoins will be coming to Avalanche.
Q: What are your plans for setting up the foundation? When?
A: The foundation is already incorporated! Some initiatives will be released in the coming months so stay tuned.
Q: Is there any plan for setting up developer mining similar to the initiative by UMA Protocol? Where developers’ Dapps earn them AVAX
A: Yes we’ve been looking into this. However, these programs must be carefully designed so they are not gamed.
Q: If the recent bill about stablecoins is passed, do you see that as a good/bad thing for Avalanche, and why?
A: I would say it won’t impact avalanche any different from any other platform like Ethereum. However, depending on what is passed, avalanche having native support for some compliance features could have an advantage over other blockchains.
Q: With AVALANCHE technology, its great performance and scalability in terms of consensus, what do you think of other chains like Ethereum that was updated to 2.0, they see it as an avalanche competition or they see it as a technological partner?
A: I’ll answer this the way I see it, which I’m sure is different for everyone. I think that projects like Cosmos, Eth2, Polkadot, etc make us always want to keep improving. These other projects have made some fundamentally different choices. All of these choices have their own reasons made by their own communities and they aren’t objectively wrong. So, I wouldn’t consider them competition in that only one of us can win. However, I would say that we all push each other to release the best products that we can.
Q: When will we have wallet app?
A: We are currently working on mobile and native desktop integrations for the wallet and expect to have them in Q1 2021.
Q: Could a new ecosystem occur to differentiate from other cryptocurrencies’ form with the heavy introduction of the financial world to blockchain?
A: Yes, many new ecosystems and verticals can form as traditional finance continue to embrace blockchain technology.
Q: Knowing the world of crypto and its adoption what do you think the AVAX project needs to be more known and adopted?
A: Ava Labs is a world-class team of experts in the fields of computer science, economics, law, and finance. We’ve built a team of incredibly passionate, creative, hard-working, and competent people who are single-minded in our quest to build the Internet of Finance. We have an incredibly elegant architecture and very high-quality implementation. Most importantly we hit the huge milestone of getting our mainnet live. Now it’s a matter of continuing to execute on our roadmap as quickly as feasible while at the same time continuing to build bizdev relationships to on-ramp existing and new dapps/teams to our ecosystem. If we continue to execute at the level that we’ve been executing then it is only a matter of time before Avalanche is better well known and adopted.
Q: Which technology do you consider essential to the next step of Avalanche?
A: Subnets are critical for us to reach our stated goal of building the Internet of Finance. Subnets allow anyone anywhere to spin up tailor-made networks with custom virtual machines and complex validator rulesets. Subnets manage their own membership and open the possibility of a spectrum of completely permissionless to permissioned networks. This will enable legally compliant networks as well as completely open networks. The ability to move value between these subnets will lead to compound network effects for the successful dapps/blockchains/subnets.
Q: How the development could optimize the Avalanche application?
A: Developers can leverage existing blockchain/dapp development workflows when transitioning to the Avalanche Platform. Our X-Chain is a UTXO based system and should feel familiar to anyone with an existing UTXO workflow. ex: BTC, BCH, LTC etc. Our C-Chain is an instance of the EVM w/ extremely high throughput, fast finality and low fees. It has 100% backward compatibility w/ existing ETH workflow and dev tooling.
Q: How Kurtosis helped the Avalanche platform?
A: Kurtosis is a complete, end-to-end testing platform helping developers build, test, and launch applications faster than ever on Avalanche. It’s a tool for testing the correctness of distributed systems and is a platform for running whole-system tests against distributed systems with the frequency and repeatability of unit tests. We’ve used Kurtosis extensively internally for many types of automated testing including bombarding our staging environments with thousands of transactions per second to ensure our network can handle the scale that we advertise.
Q: A question for young programmers at Cornell University and beyond. Why did you decide to join the Avalanche project? You probably had different job offers. What makes Avalanche special?
A: I joined Avalanche because of Gün. I had taken a few classes with him and I liked his teaching style and what he was studying. After talking with him about my interests in distributed systems, he invited me to start the AvalancheGo client. I started that implementation as a research project. By the time I had graduated I was so engrossed in the protocol and development that it was a pretty easy decision for me to join Ava Labs and continue working on the project.
Avalanche is one of the most exciting projects in the world right now. There’s so much potential for the blockchain industry to democratize finance, improve data privacy, and so much more, and Avalanche is, to me, the best place to contribute to that change. Not to mention Gün’s pinned tweet.
Also, it’s such a fantastic team. It’s an incredibly smart group of people, and I learn so much from them every day. It’s an exciting team, community, and unbelievable opportunity to change the world.
Q: Following delegation vote, If fees percentage increases, What will happen to nodes already running for 1 year, will the 5 or 10% minimum fees are applied to them or only to new validators?
A: We don’t want to change the rules for validators that have already locked in with the current parameters. So, the current plans are to only affect new validators when changes like this are applied.
Q: Can you tell us about some important avalanche partners and how are they working on behalf of their community and developers to spread more AVALANCHE technology?
A: We’re very happy to be working with the partners we’ve announced so far as well as the ones we will be announcing. Just as an example, Polyient Games is building an NFT DEX using Avalanche to power trustless NFT swaps. We will be working with them to bring more campaigns that get NFTs into the hands of their users on Avalanche. Stay tuned for more announcements very soon!
Q: Is Avalanche comfortable with the language “Go” or is it possible to create their own programming language for Avalanche?
A: Go has been great and we’re very comfortable with using it. We do use some other languages and will continue to bring Avalanche tooling to more development environments. Gün would probably love for us to make our own language but for now, we’re going to stick with battle-tested ones!
Q: Could a FIlecoin-like storage chain be created as a subnet? Is that something the team has thought about? Would be great for NFT links to refer to something Avalanche native.
A: Absolutely this would be possible. We’ve thought about a lot of different cool protocols we could augment with the Avalanche network. NFT links with Filecoin would be really cool, great idea!
Q: What about promoting the use of the Avalanche technology for Research & Innovation Purpose in National/European research projects?
There are many research and innovation programs, see Horizon 2020 in Europe for example, where consortiums including Research Institutes, SMEs, Industries, Law Enforcement Agencies, participate with their proposals in order to get funds, implement their prototypes, run pilots to demonstrate their solution.
To have a “partnership”, an “agreement” between Avalanche and such innovative programs, in order to provide Avalanche, and some support from the Avalanche team, to build and demonstrate large cross-country pilots when requested by some research projects. Do you think is this feasible?
A: This is definitely something on our radar and an area that we’re exploring. The application and review processes for these programs tend to be very long and often need the applicants to demonstrate working technology. With mainnet launched, we are now able to pursue these opportunities more seriously.
Q: In the future, will it be possible to realize encrypted AVAX or subnet tokens transactions in Avalanche platform?
A: Yes. Privacy subnets are possible, currently planned for the long-term roadmap, but not being worked on right now.
Q: Validators of the Avalanche mainnet are also validating subnets. There are some experimental subnets nowadays. Will there be an option for validators to participate or not in the validation processes of these subnets in the future?A: Primary subnet validators are not validators of other subnets by default. They need to approve a subnet.
Q: Could a new ecosystem differentiate from other cryptocurrencies with the heavy introduction of the financial world to blockchain?
Avalanche will develop focused on finance, but as a sandbox media, the Avalanche blockchain can be used by almost any industry. How will we use this advantage, are there sector-based growth plans?
A: For now, we’re focused on decentralized and institutional financial applications, as we still see an enormous amount of potential for progress and use cases never done before as you’ll see very soon.
That being said, while we’re focusing on those sectors to make the biggest impact we can, I encourage the community to explore and pioneer new use cases. Among the things I find most exciting about Avalanche is that when you make such a dramatic leap forward in what’s possible at the foundational layer, it opens up opportunities that we quite literally can’t predict.
Before the widespread adoption of smartphones and advances in mobile technology, ride-sharing apps like Uber and Lyft weren’t possible, so we’re never imagined in any detail.
There’s so much potential for developers to create new categories of applications on Avalanche that we’ve never seen before.
Q: What do you think of the copies of Avax?
A: Imitation is the sincerest form of flattery. As always DYOR.
Q: If Avalanche had to choose between digital currencies and the ecosystem of cryptocurrencies one day, which one would it choose?
A: Currently, there’s no protocol-level way to incentivize validators to validate your subnet but it’s on the roadmap for subnets to specify non-AVAX assets as staking rewards.
Q: What do you consider to be your greatest achievement in the project so far?
A: I joined the project in April — so you may also want to hear from the project OGs as well — but to me, the team launching mainnet about a year and a half after exiting stealth mode was downright impressive.
I have the privilege of working with this amazing team every day and know exactly how talented they are, but what the dev team accomplished in that timeframe is unprecedented.
Q: Did the features you considered in the apricot update will happen all at once or over a period of time?
Should we wait in the first half of December or the second half?
A: We will have clarity on the schedule soon. Please stay tuned.
Q: What’s the strategy to onboard DeFi farmers and DeFi devs on AVAX? And what do you have in mind for the liquidity?
A: To start, we have announced the AVAX<>ETH bridge that will enable the transfer of ERC20s and ERC721s. We will also be announcing DeFi applications that are launching very shortly, combined with well-known stablecoins that are widely used. These applications will come with compelling incentives to drive liquidity and end-users. And we’re always looking for devs to build new projects through our Avalanche-X grants program.
Q: What can you say about the slashing that happens in the recently launched ETH 2.0 and why Avalanche is the solution to be able to not experience slashing?
A: Rado had one of the best responses I’ve seen to this.
Avalanche uses a carrot instead of a stick to incentivize validators. Slashing adds unnecessary risk to the system and can lead to mistakenly punishing virtuous validators. In Avalanche, validators will never lose their stake, if they misbehave, then they won’t receive a reward.
Q: Can you update the community on the status of your work with Chainlink. Any exciting use cases being worked on?
A: Chainlink is on the final stretch for mainnet integration. Many applications are on deck to leverage oracle solutions like Chainlink.
Q: Apricot release brings Freezable Assets — asset creators and issuers to freeze and unfreeze assets on the platform — enabled. Is this for new assets or can it be applied to Avax also? Thanks.
A: Freezable Assets are planned to be added as a new asset type. When assets are created, they can choose to be managed or not. AVAX, and all the other currently existing assets on the X-chain, will remain unmanaged.
Q: Can you give any destination how Polyient Games is making progress building a decentralized NFT exchange?
Are you frequently discussing implementation or isn’t AVAlabs involved here?
A: We’re actively working with them on the launch of Polyient DEX on Avalanche. We are pretty much in contact every day 🙂
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
About Ava Labs:
Ava Labs makes it simple to launch finance applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. We are empowering people to build an open, simple, and democratic internet of finance.
State of Avalanche Telegram AMA with the Ava Labs Team on December 3, 2020 was originally published in Ava Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.