The Avalanche network and a few other blockchain networks in the industry, has ushered in a handful of new network users to the platform.
Avalanche, a blockchain platform that seeks to address and tackle the issues of scalability, security and decentralization seems to be having a great run this period. The network has notably raked in a significant number of new users. This has resulted in the network hitting new milestones, as monthly active users have totaled at a whopping 1 million.
Avalanche, the blockchain platform with the native token AVAX, is a major Ethereum competitor focused on prioritizing some of the key features that many believe the Ethereum network is yet to catch up on ; scalability and transaction processing speed.
The new development also highlights the swift pace at which the blockchain network is growing, as it comes not long after the launch of Ava Cloud.
The Ava Cloud network was launched on the 25th of May. The platform, a Web3 launchpad was designed so that deploying and scaling no-code, fully managed custom blockchains can be carried out easily. AvaCloud marks a landmark shift in the blockchain development process as it introduces a major product suite for businesses.
The major components that come with the product suite includes Automated Blockchain Builder, Managed Validators, Comprehensive Data Tools and Chain Interoperability. Because businesses typically spend a lot of resources on building networks, Ava Labs will come in handy for these platforms.
Emin Gun Sirer, the founder and CEO of Ava Labs believes that AvaCloud will save businesses looking to build blockchains, from spending millions of dollars in their building and research process.Emin Gun Sirer asserted:
Before AvaCloud, building your own blockchain could cost millions of dollars and years of research with an experienced team. Today, you can launch your own chain as a testnet in minutes, and deploy a fully mature network in weeks, all without hiring an extensive engineering team.
The launch of AvaCloud addresses many challenges businesses face with blockchain technology. AvaCloud is a Web3 Launchpad and a landmark step for massive blockchain adoption.
— Emin Gün Sirer🔺 (@el33th4xor) May 24, 2023
In a recent interview, John Nahas, the VP of business development at Ava Labs reckoned that the network’s growth was attained because of the partnerships it struck with leading fintech companies.
“The consistent growth in Avalanche users reflects momentum the network is generating from a string of partnerships announced in 2023, from AWS through Avalanche Evergreen. We’ve had a steady stream of innovative new dApps launches, the number of Subnets is continually increasing, with more on the way.” John Nahas remarked.
