Avalanche has successfully ended its two financing rounds and raised around 54 million dollars before the launch of its mainnet. Athereum is the “friendly fork” on the Ethereum mainnet running on the Avalanche network as such Athereum has the same keys, same tools, and same EVM as that of Ethereum.
The only difference between the two is the consensus engine running at the backend. Instead of the longest chain Proof-of-Work consensus (Nakamoto) used by Ethereum, the Athereum network uses the Avalanche Consensus Protocol that is based on the staking enabled linear chain version of the protocol. The new Avalanche consensus protocol can support thousands of fully participating nodes without the help of subcommittees.
After the mainnet launch, Avalanche is now heading towards launching the Athereum Subnetwork Testnet on its platform. However, this is not an effort towards replacing Ethereum on the Ava Network, but only to provide a compatible and better alternative ecosystem to run decentralized applications with faster throughput.
Moreover, the Athereum Subnetwork Testnet launch on the Avalanche network will encourage more development of various decentralized applications. The Ethereum community will thus be encouraged to port existing decentralized applications and also test the potential of the Athereum.
The Avalanche network is a highly scalable, customizable, and high-performance modular platform that allows developers to create their own subnetworks on the Avalanche network to trade almost all kinds of digital assets. Athereum is such a subnetwork that is launched for the very first time on the Avalanche network joining the list of already existing digital assets. Instead of the ETH tokens, Athereum will now support its native token ATH.
With this integration, all the existing Ethereum holders will now be able to access to the same amount of the ATH tokens as equivalent to the ETH tokens held by them on their respective ETH wallets.