What makes Avalanche different from other projects?

How important has Avalanche become in the last few months? What makes it different from other alternatives? To find out more about these topics, we spoke to Ricardo Vázquez, Business Development for Latin America, from Mexico.

Speaking of the DeFi, Vázquez said, “We are certainly seeing a maturity in the decentralized financial ecosystem which has exposed some bottlenecks in the ecosystem, particularly in Ethereum with very high fees that have made your costs prohibitive.” ??. ON

In this regard, he stated: “Avalanche has become a very important ally for Ethereum developers who want to keep building without cost constraints and test finality in ~ 1 second transactions and use cases that can be scaled at 4.5,000 tps.” ?? ON

What makes Avalanche different from other projects?
What makes Avalanche different from other projects?

It should be noted that the Avalanche ecosystem has taken the next leap forward with the launch of the Avalanche-Ethereum Bridge, Pangolin and various other DEXs for Avalanche and Ethereum assets.

Unlike many other high-level currencies that hardly support asset transfers, Avalanche is currently the only decentralized chain with full EVM support and millions of dollars in digital assets, ”explained Vázquez.

On PangolÃn, he said: “This community-driven project brings the same AMM (Automated Market Making) model that the crypto unicorn Uniswap uses to Avalanche. When the fees are cut from USD 50 to a fraction of the cost with an almost instantaneous purpose?

When asked about Avalanche’s potential, Vázquez replied, “We believe that the usefulness of Avalanche in DeFi is proven by the crypto ecosystem. NFTs are another element of the Avalanche ecosystem that is friendly, quick, and economical to use through NFT Studio, a native avalanche wallet tool.

In these first weeks of 2021, projects and synergies were integrated and several integrations were announced. Vázquez highlighted the following:

  • Congress of the Mexican state of Quintana Roo: First government to publicly use Avalanche.

  • TrueUSD – one of the largest and most reliable Fiat-powered stablecoins

  • Injective Protocol: decentralized derivatives

  • Cooper â ???? institutional custody and negotiation

  • Axelar â ???? Communication between chains

  • Router protocol: Cross-chain liquidity routing

  • Coin98: one of the most popular wallets in Southeast Asia

  • Frontier: stakeout wallet, NFT, and all domestic assets.

  • SIMBA Chain â ???? intelligent contracts as a service

  • OIN Finance: Issuing platform for the use of derivatives and stablecoins

  • Cartesi: DeFi Layer 2 infrastructure

But There are two things in particular that – according to Vázquez – distinguish Avalanche from other projects: “The ecosystem and the community”.

“In the first case, we are a blockchain with a very good reception from developers and dapps who were looking for efficient alternatives that enable scalability, security and decentralization at an optimal level.” manifested.

In that regard, users have transferred more than $ 100 million in assets from Ethereum to Avalanche, including $ 8.2 million in the first 24 hours. Pangolin alone has executed close to 400 million in volume and hit a liquidity high of over 200 million on the platform, with the numbers even higher given the numerous DEXs on Avalancheâ € ™, he added.

He said that too Smart contract activity was booming and transactions rose from 848% to more than half a million.

And he counted that “unique wallet addresses that interact with smart contracts had similarly rapid growth, rising 1530% to over 35,000”.

“Almost $ 25,000 in AVAX was burned through transaction fees just through smart contracts,” he said.

Speaking of the community, Vázquez said that they put it at the heart of the project and that it’s a key factor in making Avalanche a world-class platform to build on.

He also stated that it has been growing at an unprecedented rate since the beginning of the year: “The market market data websites CoinMarketCap and Blockfolio have combined AVAX on user watch lists more than three times to more than 55,000 combined”

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