Gelato, a blockchain development platform, has introduced a new blockchain-as-a-service (BaaS) product on Avalanche to simplify and reduce the cost of deploying sovereign blockchains for businesses.
Gelato had previously collaborated with big names such as Kraken and Animoca Brands. Now, it is placing a focus on enabling businesses to deploy independent blockchains more quickly, complete with interoperability through the use of Avalanche InterChain Messaging (ICM).
This is particularly valuable for fintech firms that require KYC (identification) and gaming sites that have bespoke economies.
Luis Schliesske, Gelato’s CEO, added that establishing a blockchain was once complicated and costly. Now, their rollup-as-a-service (RaaS) simplifies deployment, upgrades, and scaling—on par with AWS for blockchain.
This new product enables businesses to launch their own layer-1 (L1) blockchain on Avalanche with the single click of a button. It also eliminates the need to stake AVAX tokens, making it even easier.
Martin Eckardt of Ava Labs referred to this as a shift in paradigms for blockchain infrastructure, allowing every application to operate on a tailored chain.
Avalanche today stands as the 10th largest blockchain network with a total value locked (TVL) of more than $1.1 billion in its DeFi ecosystem, per DefiLlama.
By making it simpler for companies to use blockchain technology, Gelato’s action is a significant step toward enterprise blockchain adoption.
As more financial institutions investigate the technology, the cryptocurrency sector is approaching a significant tipping point for institutional blockchain adoption. However, for widespread adoption, these institutions require a stronger and more reliable infrastructure to confidently integrate blockchain into their operations.
Institutions will not adopt blockchain if the infrastructure is experimental or unstable, according to Schliesske. Trust and reliability are necessary to bring in financial firms, governments, and large corporations.
Interestingly, well-known brands such as eBay and Fox News have already deployed blockchain solutions on Gelato’s platform of development.
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