Hassan Maishera
On Monday, the Avalanche Foundation announced via X that Broadridge, a fintech company that processes trillions from thousands of public companies, is bringing proxy voting onchain, powering shareholder governance globally.
It is built on an Avalanche L1, powered by AvaCloud.This allows Broadridge to modernize how voting works as equities migrate to blockchain rails without having to become blockchain experts or overhaul their existing systems.
Shareholder governance is regulated, high-stakes, and operationally complex. Avalanche allows Broadridge to create a secure, dedicated environment where the right participants have access, data is handled appropriately, and the network runs reliably.
The L1 becomes a single, trusted system of record for governance. Instead of information being spread across emails, intermediaries, and different platforms:
• Votes are captured in one place
• Records are transparent and verifiable
• Data stays in sync across systems
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 down 9.3% today and currently trades at $8.53 per coin.
