Popular blockchain and smart contract platform Avalanche celebrate achievement after it reportedly hits 1 million active monthly users. This development comes shortly after the launch of ‘AvaCloud,’ a cloud computing project. The recent success was attributed to the launch of this new platform.
For context, AvaCloud is a no-code launchpad that enables companies to launch web3 projects faster and with little risk. Also, the platform allows for the building of customized blockchains or subnets on the Avalanche network.
The new technology enables users to create and launch their own blockchain networks with little or no coding knowledge. Emin Gun Sirer CEO of Ava Labs, the creator of Avalanche announced the new project on Twitter last week.
According to him, the new product addresses several problems businesses encounter with blockchain technology. The new launchpad is a huge step toward global blockchain adoption.
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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. https://t.co/Y8RrESzQVz
— Emin Gün Sirer🔺 (@el33th4xor) May 24, 2023
Furthermore, he pointed out how difficult and expensive it was to create your own blockchain before AvaCloud. However, the new tool will address the problem, enabling developers to launch their own tenets “in minutes.”
“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,” he added.
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The effect of the newly launched AvaCloud on the Avalanche network is extensive. The popularity of the network continues to grow as users see a promising future for the technology.
USDC issuer, Circle, announced last week that EUROC, a stablecoin pegged to the value of the euro is now fully available on the Avalanche network. Similarly, Alibaba’s cloud division created a launchpad for businesses to exploit metaverse spaces on the Avalanche blockchain.
Avalanche blockchain has placed itself as one of the major blockchain platforms to look out for having shown capabilities of handling high network volume transactions by crossing the 1 million monthly active users (MAU) mark.
As more developers and users continue to discover the advantages of the Avalanche blockchain, its adoption is expected to grow in the coming years. The long-term effect of this development on the native token AVAX is yet to be known, however, the price of the token is up in the last 24 hours.
Avalanche (AVAX) price today
According to live data from CoinMarketCap, the price of AVAX today is $14.43. AVAX is up 2.50% in the last 24 hours. What’s more, AVAX is ranked #16 on the CoinMarketCap chart with a live market cap of $4,941,875,279.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.