[NEWS] Avalanche adopted as Ponta's Web 3.0 service infrastructure

Loyalty Marketing, which operates the Ponta point service, announced on the 6th that it will adopt the Avalanche subnet for a new blockchain to be launched in collaboration with PlaySync, a blockchain technology service provider.

Loyalty Marketing and PlaySync announced a business partnership in July of this year.

The project that the two parties are currently working on aims to enable approximately 100 million Ponta members to use Web 3.0 services by the end of 2023.

The plan is to build a Web 3.0 platform of unprecedented scale, and in addition to marketing, it plans to mass-issue and distribute NFTs on large-scale content.

However, the two parties pointed out that if such efforts are implemented on a public chain, there is a problem of high gas fees and slow transaction speeds. To solve this problem, they decided to build a new consortium chain and utilize Avalanche's architecture, which enables high-speed processing.

The chain will be operated by Loyalty Marketing and PlaySync as validators.

According to the press release, there are two main reasons for adopting the Avalanche subnet. One of these is that it has a finality algorithm that can finalize transactions at one of the fastest speeds in the world.

The other is that Avalanche is an EVM (Ethereum Virtual Machine) compatible smart contract platform with a proven track record of successful applications already in operation on the mainnet.

Adopting the Avalanche subnet for the newly constructed consortium chain will enable the provision of high-speed, multi-functional services.

According to Loyalty Marketing, this project's blockchain has the following four features:

• Users do not need to prepare crypto assets, and can use Ponta points or fiat currency for payment.
• Third parties can provide applications, including those already provided on other EVM-compatible chains.
• A consortium chain format is adopted in which Loyalty Marketing and PlaySync operate validator nodes.
• A robust infrastructure is provided using AvaCloud, a cloud service from Ava Labs, the developer of Avalanche.

Through this project, Loyalty Marketing, PlaySync, and Ava Labs aim to further unlock the potential of blockchain and create new value.

Reference: Announcement
Image: Quoted from the announcement