3
Avalanche ($AVAX) recently welcomed Sumitomo Corporation, a Japanese conglomerate, as a validator on its blockchain network.
Sumitomo Corporation, a Fortune Global 500 company, has officially launched its Blockchain Node Operation Initiative, starting with validator nodes on Avalanche, in addition to Ethereum (ETH) and Canton Network.
Avalanche is a high-performance, layer-1 blockchain platform designed for fast and low-cost decentralized applications (dApps).
Compatible with Ethereum’s smart contracts, Avalanche supports decentralized finance (DeFi), non-fungible tokens (NFTs), and enterprise use cases across multiple interoperable subnets.
In collaboration with its IT subsidiary SCSK Corporation, Sumitomo is positioning itself as an active participant in blockchain infrastructure rather than a passive observer.
Node operators validate transactions and maintain consensus, the core mechanisms that keep blockchain networks secure, transparent and decentralized.
By joining Avalanche’s validator network, Sumitomo aims to contribute to its global decentralization while deepening ties with leading blockchain ecosystems.
The company described the move as a “strategic step toward building practical on-chain applications” aligned with its business domains, including finance, commodities, and energy trading.
Inside Avalanche's validator network
Avalanche’s validator network is the backbone of its decentralized ecosystem and is responsible for securing the blockchain, validating transactions, and maintaining consensus across its multiple chains (the X-Chain, C-Chain, and P-Chain).
Avalanche uses a unique Proof-of-Stake (PoS) model powered by the Avalanche consensus protocol, which enables thousands of validators to participate while maintaining near-instant finality (typically under two seconds).
To become a validator, a participant must stake at least 2,000 $AVAX tokens. Validators are rewarded in $AVAX for securing the network, with higher uptime and reliable performance earning greater rewards.
More news on Avalanche:
- Avalanche Policy Coalition urges SEC, CFTC to fold crypto into existing market rules
- Avalanche posts 70% surge in stablecoin and tokenized fund market cap in 2 years
- Avalanche facilitates Galaxy Digital’s $75M tokenized CLO debut
Blockchain beyond crypto
Avalanche has been taking major steps towards innovating in blockchain technology and expanding its use case.
In fact, it recently announced a six-week global online competition called "Build Games" with $1 million in prizes to developers who would build new products and experiments on its blockchain network.
Sumitomo highlighted that blockchain technology is no longer confined to cryptocurrencies, noting its growing use across traditional industries. The company sees applications in asset tokenization, trade finance, cross-border payments, and supply chain tracking, among other fields.
In a statement, Sumitomo said blockchain’s combination of transparency, security and immutability has the potential to streamline complex global transactions while unlocking new efficiencies.
One use case under active consideration is a stablecoin-based cross-border remittance system, which would integrate blockchain settlements into the company’s existing financial networks.
bsc.news
