Blockchain Start-up Led by Cornell University Professor, Launches Cryptocurrency... Facebook Investors Participated as Well

        [Photo sources: Professor Sirer, who is on a panel at the Bloomberg-New York Token Summit ]

[July 9, 2009] Emin Gün Sirer, a computer engineer professor at Cornell University--a world-renowned expert in decentralized blockchain technology, will launch cryptocurrency and blockchain. Large-scale venture capital firms are joining the project, expressing their high expectation.

Sirer said, "by increasing the volume of transactions per second and drastically reducing the delay in confirming transactions, we have established an AVA network that matches the VISA network." With Cornell University Ph.D. researchers at the University of Cornell, blockchain startup Ava Labs, led by Professor Sirer, successfully attracted $6 million in investment from Andreessen Horowitz, Polychain and Metastables in February. Andreessen Horowitz is also famous for his early investors in Facebook and Airbnb.

Ava Blockchain, which is considered as an innovative next-generation blockchain by complementing the limitations of existing block chains such as trading volume and scalability per second, was announced under the name "Avalanche." Like Etherium, Avalanche blockchain is expected to be a platform that can issue multiple tokens. Professor Sirer said, "we can create digital assets on top of the Ava blockchain. If we want, we will be able to use a mix of different computer languages. The Ava Private Test Net is currently on a successful trial run and will soon be issued with a crytocurrency AVA."

Sirer and Abba Labs' team will visit South Korea to participate in the upcoming Blockchain Conference Beadle Asia 2019 to be held July 22nd-23rd. In line with this, Ava Labs Seoul Meetup will also be held on 24th of July.

Reporter Jenny Lee (news@dailycoinews.com)의 기사 더 보기

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