The smart contracts platform Avalanche executed 1.1 million transactions on Jan. 27, according to data published by Ava Labs CEO Emin Gun Sirer.
It has now taken up 96 percent of Ethereum’s load, putting it on the verge of dethroning the market leader.
Avalanche is the fifth-largest smart contract platform, according to DefiLlama, with $8.17 billion in total value locked up (TVL).
Then, According to Messari, the blockchain averaged 475,000 daily transactions in the fourth quarter of 2021. On the other hand, Ethereum saw an average of 1.25 million transactions each day. The blockchain appeals to “fee-sensitive” users, according to the firm:
“Given this rapid adoption, Avalanche is becoming an enticing platform for upcoming projects that want to maintain EVM compatibility while attracting fee-sensitive users.”
Sirer stated in a recent tweet that the average charge for a swap operation on Avalanche is $0.23, compared to $62 on Ethereum.
So, He further downplayed worries about the blockchain’s supposed decentralization in a series of follow-up tweets, arguing that the Ethereum blockchain is produced by a small number of pools.
Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul
A Digital European Project In Works With Italian Payments Provider Nexi
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.