Avalanche Launches Spruce Testing Network for the Evergreen Subnet with Leading Financial Institutions

On April 13th, according to the official blog, Avalanche announced the launch of the testing network Spruce for the Avalanche Evergreen subnet, with initial institutional partners including T Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland, participating institutions will use Spruce as a testing network for various applications and assets to measure the benefits of on chain transaction execution and settlement.

Avalanche launches Spruce testing network for Evergreen subnet

On April 13th, Avalanche, a new-generation blockchain platform, announced the launch of its testing network called Spruce for the Avalanche Evergreen subnet. The testing network started with leading financial institutions including T Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland, among others, who will use Spruce to test various applications and assets on-chain transaction execution and settlement benefits.

What is Avalanche Evergreen Subnet?

Avalanche Evergreen Subnet is a high-throughput blockchain platform that provides various services that work with institutions and entrepreneurs to launch decentralized finance applications. Spruce, the new testing network, offers participants an experimental space to test and experiment before the final launch of their applications.

Benefits of Spruce Testing Network

The Spruce testing network provides several benefits to its participants. Firstly, the on-chain transaction execution and settlement benefits of the Avalanche Evergreen subnet can be evaluated on the Spruce network.
Secondly, financial institutions can use the testing network to test various applications and assets. This will enable them to determine how well their applications work and identify any issues that may arise in real-world settings.
Thirdly, Avalanche’s Spruce testing network has been designed to ensure transaction privacy and data integrity. Therefore, participants can be assured that their data will remain confidential and secure during testing.

Institutional Partners Using Spruce

Leading financial institutions including T Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland have demonstrated a keen interest in the Spruce network. These partners will be using the network to test their various applications and assets to measure the benefits of on-chain transaction execution and settlement.

Conclusion

Avalanche’s launch of Spruce testing network for the Evergreen subnet with leading financial institutions demonstrates the growing interest in blockchain technology by traditional financial players. Spruce provides a safe and experimental space for financial institutions to test their various applications and assets before the final launch, enabling them to identify any issues that may arise in real-world settings. Moreover, Spruce’s designed transaction privacy and data integrity features give confidence to the participating partners in the security of their data.

FAQs

Q1. What is Avalanche Evergreen Subnet?
A: The Avalanche Evergreen Subnet is a high-throughput blockchain platform that provides various services that work with institutions and entrepreneurs to launch decentralized finance applications.
Q2. Who are the partners using Spruce testing network?
A: Leading financial institutions including T Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland are using the Spruce testing network.
Q3. What are the benefits of Spruce testing network?
A: Spruce testing network provides a safe and experimental space for financial institutions to test their various applications and assets before the final launch, enabling them to identify any issues that may arise in real-world settings. Moreover, Spruce’s designed transaction privacy and data integrity features give confidence to the participating partners in the security of their data.