Avalanche blockchain claims one million active users

Credit: Avalanche Fondation

A million active users every month. This is the activity level recorded by Ava Labs on the blockchain L1 Avalanche. The growth would be driven by the recent launch of AvaCloudfor the blockchain creation at no code.

Despite a stagnating trend in crypto-currency prices, the blockchain ecosystem remains relatively dynamic. Solana, for example, is actively exploring the potential uses of blockchain in generative artificial intelligence.

For Avalanchethe leading technology of the moment is AvaCloud. The no-code platform designed to simplify the launch of bespoke blockchain networks was made official on May 24 by Ava Labs. Its release directly benefits Avalanche.

AvaCloud drives growth for Avalanche

In a tweet, the publisher’s VP Marketing, Jay Kurahashi-Sofue, claimed a new record.

Avalanche has reached its all-time high with over a million monthly active portfolios, and now?” he enthuses.

Source

Emin Gun Sirerthe company’s founder and CEO, was also delighted with this result. For him, the driving force behind this growth was the launch ofAvaCloud. By providing subnetsthe publisher hopes to revitalize its ecosystem.

Avalanche is not the only L1 network to enable the creation of custom blockchains or subnets. The purpose of these subnets is to provide developers with the tools they need to create their own blockchains. create custom blockchains and specialized decentralized applications.

Blockchains rapidly available via subnets

Back in April, the startup behind Avalanche launched Evergreen Subnets, a subnet offering dedicated to institutions. Subnets feature the qualities of public blockchains with the control offered by private blockchains.

Making subnets available is not enough. It is also essential to reduce the cost of access to these technologies. And this is what AvaCloudassures Emin Gun Sirer.

Before AvaCloud, creating your own blockchain could cost millions of dollars and years of research with an experienced team. Today, you can launch your own blockchain as a test network in minutes, and deploy a fully mature network in weeks, all without hiring a large engineering team,” promotes the CEO.

Avalanche 7th in the hierarchy with $700M TVL

Several players have committed to developing their subnets on the new Avalanche platform, including Korean conglomerate SK Group. Publishers specializing in gaming are also candidates.

These subnets should drive the development of blockchain and thus the number of its users. Avalanche is still relatively young, having been founded in September 2020.

With a TVL estimated at $700 million by DeFiLlama, blockchain ranks 7th, far behind Ethereum and its nearly $27 billion in TVL.

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