Avalanche Blockchain Protocol Sets New High with 80,000 Daily Active Addresses
According to reports, according to Artemis, a blockchain data company, the daily active addresses of the Layer1 blockchain protocol Avalanche reached nearly 80000 on April 12th, re
According to reports, according to Artemis, a blockchain data company, the daily active addresses of the Layer1 blockchain protocol Avalanche reached nearly 80000 on April 12th, reaching a new high in six months. Its daily active user base has increased by 85% in the past 90 days. According to Artemis, only four protocols have grown faster than Avalanche: StarkNet, Arbitrum, Stacks, and Canto.
Avalanche’s daily active address reaches a new high in 6 months
Introduction
Blockchain technology is a rapidly evolving industry that continues to attract both investors and developers alike. Recently, reports from Artemis, a leading blockchain data company, revealed that the daily active addresses of the Layer1 blockchain protocol Avalanche reached nearly 80,000 on April 12th, marking a significant milestone for the platform. Additionally, Avalanche’s daily active user base has increased by 85% in the past 90 days. In this article, we’ll take a closer look at the Avalanche blockchain protocol, its key features and capabilities, and explore why it has become one of the fastest-growing blockchain protocols.
What is the Avalanche Blockchain Protocol?
The Avalanche blockchain protocol is a high-performance, scalable blockchain architecture that addresses some of the key challenges faced by existing blockchain systems. It is designed to provide higher throughput, lower latency, and greater flexibility compared to traditional blockchain protocols like Bitcoin and Ethereum. Avalanche was created by Emin Gün Sirer and his team of researchers at Cornell University in 2018, and it has attracted significant attention from the blockchain community due to its unique consensus algorithm.
Key Features of Avalanche
Avalanche’s consensus algorithm, called Avalanche-X, is designed to support high transaction throughput while maintaining the security and decentralization requirements of a blockchain. It achieves this by using a novel approach called probabilistic finality, which allows for fast transaction confirmation while reducing the likelihood of a network split. Additionally, Avalanche uses a unique network architecture that enables the creation of custom blockchains within the larger Avalanche ecosystem, providing greater flexibility for developers and businesses. It also supports smart contracts, token issuance, and other blockchain features that are essential for creating decentralized applications.
Why has Avalanche Become So Popular?
There are several reasons why Avalanche has become one of the fastest-growing blockchain protocols in recent months. Firstly, its unique consensus algorithm allows for higher throughput and lower latency compared to other blockchain protocols, making it an attractive option for developers who are looking to create high-performance decentralized applications. Secondly, Avalanche’s ecosystem provides greater flexibility and customization options for developers, which can lead to faster and more efficient development cycles. Finally, as we have seen from the recent growth in its daily active user base, Avalanche is gaining momentum across the blockchain community, attracting more investors and businesses to its platform.
Other Fast-Growing Blockchain Protocols
While Avalanche has seen significant growth over the past few months, it is worth noting that other blockchain protocols are also experiencing rapid expansion. According to Artemis, only four blockchain protocols have grown faster than Avalanche: StarkNet, Arbitrum, Stacks, and Canto. These platforms offer their own unique features and capabilities, and they have gained significant popularity across the blockchain community.
Conclusion
The Avalanche blockchain protocol has set a new high in daily active addresses, experiencing an 85% increase in its daily user base over the past 90 days. Its unique consensus algorithm, scalability, and flexibility have made it an attractive option for developers and businesses looking to create innovative decentralized applications. As blockchain technology continues to evolve, platforms like Avalanche will play a crucial role in enabling the creation of new, innovative solutions that can transform various industries.
FAQs
1. What is probabilistic finality in blockchain consensus algorithms?
Probabilistic finality is an approach used in some blockchain consensus algorithms to achieve fast transaction confirmation times while reducing the risk of network splits. It involves using random sampling to confirm transactions rather than relying on a fixed verification process.
2. Can Avalanche support smart contracts and token issuance?
Yes, Avalanche supports smart contracts and token issuance, among other blockchain features.
3. What are some other fast-growing blockchain protocols?
Other fast-growing blockchain protocols include StarkNet, Arbitrum, Stacks, and Canto.
**
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/16343/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Large Bitcoin Transfer to EasyCrypto Sparks Speculation
According to reports, 1680 BTC (valued at approximately $45900636) was transferred from an unknown wallet to EasyCrypto. 1680 BTC transferred from unknown wallet to EasyCrypto Analysis based on this information:The cryptocurrency community is buzzing with the news of a whopping 1680 BTC transfer, worth over $45 million at current prices, that was made to EasyCrypto, an online platform that offers cryptocurrency exchange services. The transfer was made from an unknown wallet, prompting speculation and curiosity about the identity and motives of the sender. Bitcoin is the most well-known form of cryptocurrency, and its value has risen dramatically in recent years. Despite its volatile nature, it is becoming increasingly popular with investors and businesses as a form of digital currency. The current transfer underscores the growing acceptance of Bitcoin and other cryptocurrencies as legitimate investment options. EasyCrypto is a New Zealand-based company that offers a straightforward platform for buying, selling, and storing cryptocurrencies. It is widely regarded as a user-friendly and…
-
Tiktok App has supported bitcoin market data query
On April 10, it was reported that Tiktok App has supported bitcoin market data query, based on the data source.
Tiktok App has supported bitcoin market data query
1. Introduction2. -
What is Cindicator?
What is Cindicator? According to official news, Cindicator is a community-driven
-
Title: Understanding CME’s Federal Reserve Observation and Interest Rates
According to reports, according to CME\’s \”Federal Reserve Observation\”, the probability of the Federal Reserve maintaining interest rates unchanged in May is 18.4%, and the probabi
-
HOFA Gallery’s Exclusive AI NFT Art Exhibition: A Showcase of Top Artists
It is reported that HOFA Gallery will hold an exclusive AI NFT art exhibition featuring digital art works. This event will showcase works from top AI and NFT artists, including XCO
-
The Impact of the Silicon Valley Bank Collapse on NFT Trading Volume
On March 17th, according to a report by DappRadar on March 16th, before the collapse of the Silicon Valley bank on March 10th, NFT trading volume hovered between $68 million and $74 million, and then fell to $36 million on March 12th. From March 9 to March 11, the daily sales volume of NFT decreased by 27.9%. DappRadar: The collapse of banks in Silicon Valley has led to a significant impact on NFT trading volume Analysis based on this information:The NFT market has been rapidly growing in recent months, attracting investors and art-lovers alike. However, a recent report by DappRadar suggests that the Silicon Valley bank collapse has had a significant impact on NFT trading volume. Before the collapse on March 10th, NFT trading volume was hovering between $68 million and $74 million. However, after the collapse, the volume fell to $36 million on March 12th. This indicates that the collapse had a sudden and dramatic effect on the market….
-
BTC fell below $28000
According to reports, the market shows that BTC has fallen below US $28000 and is currently trading at US $27991.2, with a intraday decline of 0.3%. The market is highly volatile,
-
STX Coin Price Surges by 71.54% in 24 Hours
On February 20, the market showed that STX rose to 0.8USDT, and is now at 0.7USDT, with a rise of 71.54% in 24H.
STX rose to 0.8USDT, while 24H rose 71…
-
Visa Recruiting Software Engineers for Cryptocurrency Department
According to reports, Visa is recruiting software engineers for its cryptocurrency department to develop new products in the field and plan a roadmap for its cryptocurrency product
-
2400 Dormant Bitcoins Transferred on the Chain after 5-7 Years
According to reports, CryptoQuant analyst Maartun reported that 2400 Bitcoins that have been dormant for five to seven years were transferred on the chain this morning.
Data: 2400 -
Blur Reigns Supreme in the NFT Market
According to the data of TheBlock, 84% of all NFT transactions based on Ethereum in the first week of March occurred on the Blur platform, exceeding the high o…
-
Ethereum Validators Face Delayed Withdrawals – Understanding the Cause Behind Long Waiting Times
On April 19th, according to Nansen data, after the upgrade in Shanghai, Ethereum validators who request withdrawals will have to wait for more than 17 days to retrieve their pledge
-
Why is TRON falling (Is TRON worth investing)?
Why is TRON falling? What exactly is TRON? We all know that Bitcoin is highly vo
-
Hedera’s Main Network Attacked by Cybercriminal
On March 10, Hedera disclosed the details of the attack. The attacker attacked the smart contract service code of Hedera\’s main network and transferred the Hed…
-
What is TGC Coin
TGC Coin, according to official sources, is a type of digital currency based on
-
Starbucks Joins the NFT Craze: Introducing the First Store Collection
On April 18th, Starbucks announced that it will launch the \”First Store Collection\” NFT series on the Polygon chain at 9am Pacific Daylight Time on April 19th, with a quantity of 5