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Blockchain developer platform Gelato is launching a new blockchain-as-a-service solution on Avalanche to meet the growing demand for sovereign blockchain infrastructure during a crucial “tipping point” for institutional adoption.
Gelato, which previously developed blockchain solutions for companies such as Kraken and Animoca Brands, unveiled the new upgrade that aims to let developers deploy fully sovereign chains faster and cheaper with full interoperability via Avalanche InterChain Messaging (ICM).
Gelato emphasized that its service is ideal for advanced applications such as financial technology (fintech) requiring identity verification (KYC) and specialized gaming economies, according to a March 28 announcement shared exclusively with Cointelegraph.
The service lets companies quickly deploy independent (“sovereign”) blockchains with fewer costs and faster launch times.
Luis Schliesske, founder of Gelato, said previously launching a blockchain required extensive technical knowledge and significant engineering resources. Gelato’s new product reduces the complexity involved. He told Cointelegraph:
“The future of enterprise blockchain is sovereign, interoperable, and invisible to the end-user,” he added.
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The new solution will enable one-click layer-1 (L1) network deployment on Avalanche and leverage key network advancements such as dynamic fees and the removal of the Avalanche (AVAX) token staking requirements.
“Avalanche L1s mark a paradigm shift in blockchain infrastructure, enabling a future where every application can run on its own sovereign chain, optimized for its unique needs,” according to Martin Eckardt, senior director of developer relations at Ava Labs.
Avalanche is the industry’s 10th largest blockchain network, with over $1.1 billion in total value locked (TVL) across its DeFi applications, DefiLlama data shows.
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Reliable infrastructure is a “prerequisite” for institutional crypto adoption
The crypto industry is at the “tipping point” for institutional blockchain adoption, with increasingly more financial institutions looking to adopt the technology.
However, financial institutions need more robust infrastructure to have the confidence to adopt blockchain and more crypto offerings, Schliesske said, adding:
Fox News and eBay are some of the most prominent brands that have launched blockchain-based solutions on Gelato’s development platform.
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