Soon after Ethereum laid the foundation for a decentralized ecosystem and smart contracts, many blockchains were rolled out to address the loopholes with the ETH chain. The issues were mainly around scalability, transaction speed and fees. Avalanche is such a decentralized, open-source & smart-contract compatible that aims to deliver faster transactions at a low cost.
Launched just a couple of years ago in 2020, Avalanche is now among the top performing assets with a Total Value Locked of more than $3 billion. The most unique feature of the Avalanche chain is it achieves finality in just a second with a transaction throughput of more than 4500 TPS. This is equal to near-instant, much required for real-world usage.
The avalanche network recently recorded a time high in daily transactions metric by crossing 1.51 million transactions. Further, the platform released an upgrade called AvalancheGo Verbier. Secondly, the platform also released an extension to support custom Avalanche subnets along with Ethereum & EVM compatible chains.
Top Avalanche Blockchain Tokens by Market Capitalization
|Crypto||24H Volume||Current Price|
|Orion Protocol(ORN)||$51.70 million||$1.50|
Latest News on Avalanche Ecosystem Tokens
- Robinhood recently listed AVAX tokens along with Stellar Lumens (XLM) which ignited a steep upswing of more than 10%. The 24-hour trading volume of AVAX Price surged more than 23% but fell an inch short to hit a billion mark.
— Robinhood (@RobinhoodApp) August 8, 2022
- In a recent announcement, Binance Card adds AVAX and other 2 to make purchases, and pay bills in over 60 million online & brick-&-mortar stores. The other 2 include Ripple (XRP) & Shiba INU (SHIB).
Additional Read: AVAX Whitepaper Summary
- Orion Protocol released a series of updates recently along with integrations with Uniswap & Pancakeswap and wallet integration with Fantom to optimize wallet integration.
- Orion Protocol recently announced Orion Bridge the bridge between Ethereum & BNBChain. The bridge supports TrueUSD where-in it offers swapping & trading functions.
— 🏆 𝐍𝐄𝐖𝐒𝐋𝐄𝐀𝐃 (@News1Lead) August 1, 2022
- Chainlink in a recent blog post clearly stated that it will not support the fork versions of Ethereum after the Merge which includes Proof-of-Work forks.
- The platform recently rolled out its adoption update and according to which it carried out 16 integrations of 4 Chainlink services across 7 different chains
⬡ Chainlink Adoption Update ⬡
— Chainlink (@chainlink) July 17, 2022
Additional Read: Why is Chainlinnk Price Rising Today
- Sushiswap is now launched on Arbitrum and deployed SUSHI AMM on Arbitrum NOVA wherein users can now begin their trade on NOVE using Sushiswap.
🍣🍣 SushiSwap has deployed Sushi AMM on Arbitrum Nova. Users can start trading on Nova using SushiSwap now. Previously, Offchain Labs’ new chain Arbitrum Nova went live and was open to the public. 🙌🙌
— SushiSwap (@SushiSwap) August 10, 2022
- The platform recently launched a cross-chain Decentralized Exchange called ‘SushiXSwap’ which is the first ever cross-chain AMM built on Stargate
🍣 Launching SushiXSwap 🔀
— SushiSwap (@SushiSwap) July 21, 2022
- The platform released a multichain bridge which is powered by Lifiprotocol wherein one can easily move any assets within 15+ chains, 9+ bridges, and 17+ DEX.
🤯 Frontier Wallet’s new Multichain Bridge is on 🔥
Powered by @lifiprotocol ⚡️
Just 👆 tap to move any assets across 15+ chains, 9+ Bridges, 17+ DEXs — faster, cheaper, securely 💨
Update your Frontier app on iOS & Android 📲 pic.twitter.com/JT4U30tAfs
— Frontier 🧡 (@FrontierDotXYZ) July 20, 2022
- Frontier announces integration to Coinbase pay where-in the existing Coinbase users can transfer crypto holdings or pay using existing payment methods in their Coinbase account
Avalanche is among the platforms which are working hard to progress within the DeFi space and mainly within the smart contracts. By offering relatively high speed at a low cost, the platform may give tough competition to the industry leaders.
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Additional Read: Top Cryptos to Watch this Week