Quantstamp is working towards optimizing Avalanche’s security. This will allow Avalanche to address the needs of traditional global finance covering the geographical and regulatory complexities of digital assets traded worldwide.
Avalanche for Encouraging DeFi Potential
Although DeFi composability facilitates building powerful applications, the independent development of DeFi protocols might raise security concerns. Therefore, Avalanche is working on the security optimization of its network.
Founded by Emin Sirer, Avalanche strives to offer a robust and scalable foundation for DeFi apps. Its contract chain is compatible with all sorts of Ethereum tooling kits which have successfully fueled DeFi’s growth till now including Remix, MetaMask, and Truffle Suite. Avalanche has always strived to deliver a seamless experience to developers while building, launching, and scaling decentralized apps while partnering with ecosystem projects such as Avalanche-X (an accelerator program to provide funding and guidance to Avalanche-powered DeFi projects) and Chainlink (to integrate its oracles natively).
Currently, Ava lab (founder of Avalanche) is empowering the users to control every custom subnetwork, to enhance the liquidity of traditional assets with blockchain technology. Subnetwork or subnet is a dynamic set of validators working collectively to bring consensus on the state of blockchains’ sets within Avalanche. It is easy for subnets to keep control of who is validating and participating in their network.
Layered 1 Security for Avalanche Network
With this collaboration, Avalanche has received Layered 1 security for its services. Under this optimization, the security of the Avalanche network has been enhanced by auditing the existing protocol. To achieve this, Quantstamp is solidifying the subnets placed on top of the Avalanche and the foundation of the network itself.
Talking about Quantstamp, it is a market leader in blockchain security. It is a pioneer in securing the decentralized internet while protecting over $5 billion in digital asset risk from hackers. Apart from Avalanche, there are 100+ foundations, startups, and enterprises working with Quantstamp to keep their product safe including Siemens, GMO, Binance, etc.