Cornell Prof. Launches Cryptocurrency Backed by Major VCs

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Emin Gün Sirer, co-director of the Initiative for Cryptocurrencies and Smart Contracts at Cornell University and renowned blockchain researcher, is launching ‘Ava,’ his own new cryptocurrency.

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Ava Labs, Sirer’s startup, raised $6 million for the project earlier this year. According to Bloomberg, Sirer’s project has already managed to secure funding from “some of the biggest venture capitalists in the field,” including Andressen Horowitz, Polychain, and Metastable.

 

Ava Labs is also the developer of the Avalanche protocol, a distributed method of transaction verification that Sirer says is more flexible than the Bitcoin protocol.

“You can create a digital asset on top of Ava, a coin X,” Sirer told Bloomberg. “And then you can say, I want my coin to support Bitcoin transactions as well as Zcash –- you can mix and mash features from different languages. And I want these features to be supported on this set of nodes.”

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