Avalanche (AVAX) is the open-source platform for launching highly decentralized applications, new financial primitives, and new interoperable blockchains. The Avalanche mainnet is already live and it will be useful and something will be there for enterprise, decentralized organization, developer, token user, or enthusiast.
Developers who are building the Avalanche will be able to easily create powerful reliable, secure applications, custom blockchain networks consisting of complex rule sets to help build on private and public subnets.
Avalanche are focused on enabling higher performance, security and efficiency over previous decentralized protocols. The Avalanche Consensus Protocol provides lot of advantages particularly it is resilient to 51% attacks.
In just 100 days since mainnet launch the AVAX ecosystem has been growing at an incredible pace with projects like ChainLink, Polyient Games, and Binance Year 2021 is expected to bring in new and exciting innovations to Avalanche.
Of note, a suite of 5 European stablecoins are getting launched natively on Avalanche, thus bringing digital Euros, Swiss Francs, and lot more.
For clarity, e-money are a leading issuer of transparent, interest-bearing, currency-backed stablecoins. They are launching their suite of European-currency stablecoins on Avalanche, which included digital Euros (EUR), Swiss Francs (CHF), Norwegian Krone (NOK), Swedish Krona (SEK), and Danish Krone (DKK).
The stablecoins are set to be launched on Avalanche’s Contract Chain (C-Chain) and will be bought and sold via e-Money Wallet with either a credit card or bank transfer. These stable coins are set to join the top 5 fiat backed stablecoins like TrueUSD (TUSD) and BiLira (TRYB). The numbers of stablecoins is rapidly increasing in the DeFi ecosystem on Avalanche.
Apart from being used as a stablecoin, the launch facilitate a bridge for tokens to flow seamlessly between e-Money and Avalanche to trade on e-money DEX.
Avalanche Forum are facilitating community-driven discussions about the platform, thus facilitating thoughts from staking through decentralized apps.
Avalanche have passed 1 million total transactions. AvalancheGo v1.1.2 is already released. Avalanche-Ethereum Bridge, an in-depth workshop now on Avalanche’s YouTube. Also, Chainlink have awarded a grant to protofire to build integration with Avalanche.
Avalanche are continuing to focus on unlocking DeFi’s true potential without getting wavered. The DeFi has grown exponentially for months and they have a total value locked in almost at $10 billion. They are trying to solve a lot of drawbacks within DeFi, which includes high fees and network congestion. They are getting ready to prove what they are capable of.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
Get the latest Crypto & Blockchain News in your inbox.
