Hassan Maishera
On Wednesday, the Avalanche Foundation announced via X that Pharaoh is planning to bring 24/7 trading of tokenized U.S. stocks to its decentralized exchange built natively on Avalanche.
For the first time, permissionless tokenized stocks are coming to Avalanche. The move would give traders new ways to access U.S. equities onchain in a permissionless environment, and connect those assets to liquidity across Avalanche’s DeFi ecosystem.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem. Avalanche is a layer-one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
This is made possible by Avalanche’s unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain, and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely, having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases.
AVAX is up 3.5% today and currently trades at $7.54 per coin.
