In a bid to accelerate the adoption of Web3 and offer the current players in its ecosystem all the required tools, Kaleido has announced welcoming Avalanche to its space by getting all its Web3 solutions onboard. The announcement was made by Kaleido in Avalanche Summit II.
Furthermore, Kaleido will now provide different gaming institutions and companies with turnkey support to work with different advanced technologies.
Per the announcement, specifics mention that the Web3 solutions of Avalanche are now a part of Blockchain Business Cloud by Kaleido. The latter now looks forward to supporting the network and subnets of Avalanche. Parties that are expected to largely benefit are gaming companies, followed by enterprises, governments, and institutions.
The technologies deployed, or deployed, under the partnership will help all the players to accelerate growth by leveraging their true potential.
Ava Labs and Kaleido have come together based on a common ground where they aim to provide tools to enterprises, helping them to tokenize assets that exist in the real world. Avalanche brings to the table a lot of capabilities including, but not limited to:
- Possibility to create custom blockchain
- Providing benefits of public network
- Robust security
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Blockchains customized by the partners can be utilized for use cases that could vary for every enterprise depending on how they deploy and under what conditions they deploy the same. The benefits of public networks and robust security are generally found in private blockchain deployment. That image is all set to change, especially in terms of robust security.
What makes them add a public network to the list of advantages is the fact that Avalanche Subnets continue to be interoperable in a seamless fashion throughout their run time.
Emin Sirer from Avalanche Foundation has even noted that Subnets have the potential to become the next engine to drive growth in the crypto industry by enabling functionalities that could only work on a larger scale. The Director of the Foundation has also stated that no other technology is better positioned to carry forward the innovation in blockchains, something that smart contracts have attempted to do since their debut.
Developments in Avalanche could often appear to be selective in approach. However, Kaleido has clarified that it will be open for all, including startups in the Web3 segment that are looking to match the level of some of the largest enterprises. Customers benefit from the announcement by way of easily connecting to the mainnet or deploying the Subnet.
Boosting this development is a collection of more than 500 APIs and Web3 services that can be plugged in for asset tokenization, key management, and wallets, to mention a few.
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Businesses are betting on this development under Kaleido, for they do have a chance to generate better outcomes and return on investment by building not just faster but also in a cost-efficient manner.
Steve Cerveny, the Chief Executive & Founder of Kaleido, has expressed confidence in getting Avalanche on board, saying that it will expand the ecosystem of Avalanche to a larger number of companies. This will further help in accelerating Web3 adoption, acknowledged Steve in their statement.
