AVA Labs’ Avalanche introduces the blockchain-based Everest Testnet for the development of decentralized finance or DeFi apps

The Avalanche team, which develops blockchain-based apps, including those that incorporate Decentralized Finance or DeFi, says they worked to ensure Avalanche had “a successful, decentralized start” while delivering a great user experience.

The developers of Avalanche, which is led by Cornell professor of computer science Emin Gun SirerNote that platform users should expect significant improvements with the introduction of a “feature-rich” mainnet release candidate named Everest. This is the final test phase before the mainnet goes live.

The AVA Labs team notes that the AVAX token address format has been slightly but significantly improved (details can be found here).

AVA Labs states:

“[The launch of Everest] marks an important step for our project and our community as [it] has all the key features of Avalanche. [However,] … Everest does not reflect the status of the mainnet version that will soon follow. This means that Everest will not display any token balances for the AVAX sales participants (Avalanche Token), grant recipients, or Testnet rewards. “

New features added to Everest include an improved Smart Contract utility. AVA Labs notes that the Avalanche Virtual Machine has been updated to support AVAX asset transfers between all chains in the standard subnet, including transfers between the Avalanche and the standard asset chain (X-Chain) the Ethereum Virtual Machine Implementation (C-Chain).

There is also support for non-fungible token (NFT) support that allows users to create, process, and use wallet management services (specifically for NFTs).

(Note: You can find more information about other updates here.)

The AVA Labs team claims that Ethereum developers do not need to learn any new coding or programming skills in order to use or want to use the new features of Avalanche.

Avalanche’s C-chain is reportedly compatible with “all of the major Ethereum tools that have fueled Decentralized Finance (DeFi) growth to date,” including MetaMask, Web3.js, Remix, Truffle Suite and Embark Platform. Ethereum-based apps can easily try Avalanche-Solidity’s intelligent contract programming.

Kevin Sekniqi from Ava Labs stated:

“Everest showcases the best of Avalanche and marks the next step towards a new era of decentralized finance defined by speed, capital efficiency and innovation in new products and services for people around the world.”

As confirmed in a version shared with CI:

“Since exiting stealth mode last year, Avalanche has completed and publicly released three test networks, received contributions from a large pool of developers, awarded significant grants for engineers to build infrastructure and applications through its accelerator, and in companies like Chainlink, Polyient, integrated. and Tor.us. ”

In another update, Ava Labs confirmed that they are working with Quantstamp, a blockchain security company, to improve Avalanche’s security. The two companies announced that they had improved the security of the Avalanche network by “reviewing the protocol and recommending improvements.”

Avalanche has also integrated with Torus to support DeFi (decentralized finance) apps following a $ 42 million public sale of Reg D 506c.