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Ava Labs\u2019 John Nahas says Avalanche is betting on sovereign, purpose-built blockchains, targeting ~200 institutional and enterprise chains across finance and AI.<\/p>\n
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Ava Labs is pursuing a long-term strategy focused on purpose-built blockchains as the cryptocurrency market continues to cycle through short-term trends, according to the company\u2019s chief business officer.<\/p>\n
John Nahas, chief business officer at Ava Labs, discussed Avalanche\u2019s (AVAX) expansion across traditional finance, global brands, and enterprise operators in an interview with TheStreet Roundtable\u2019s Jackson Hinkle.<\/p>\n
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Nahas attributed the network\u2019s growth to Avalanche\u2019s underlying architecture and its focus on building blockchains designed for specific use cases rather than following short-term market trends.<\/p>\n
\u201cIf you hyper-focus on the crypto narratives that are on crypto Twitter, or these things that come and go for three or four months, you\u2019re always playing catch-up,\u201d Nahas stated. \u201cWhere we\u2019ve been successful is in the medium to long term. Things that are worth doing take time.\u201d<\/p>\n
Avalanche, which regularly ranks among the top 15 cryptocurrencies by market capitalization, is positioning itself around the thesis that cryptocurrency\u2019s next phase will be built around sovereign, purpose-built layer-1 blockchains rather than a single chain serving all functions.<\/p>\n
According to Nahas, much of the industry operates on what he described as a \u201cfirst-generation business plan\u201d based on the assumption that all activity will eventually settle on one network.<\/p>\n
\u201cWe don\u2019t need more block space. We don\u2019t need more blockchains,\u201d Nahas said. \u201cBut we do need more blockchains that are purpose-built, because that\u2019s how the real world works.\u201d<\/p>\n
The company\u2019s enterprise roster reflects this approach. \u201cBanks want their own environment. Asset managers want their own environment. Enterprises want their own environment,\u201d Nahas explained.<\/p>\n
Toyota is building four distinct Avalanche chains, each designed for a different workflow, according to Nahas. FIFA and SMBC in Japan are also building independent environments on the platform.<\/p>\n
Avalanche supports private permissioned, public permissionless, and hybrid chains that can all interoperate, according to the company.<\/p>\n
\u201cEffectively, you are giving people solutions rather than giving them a solution in search of a problem,\u201d Nahas said.<\/p>\n