Blockchain analytics platform Nansen published a comprehensive research report on the emerging EVM compatible layer1 platform Avalanche yesterday.
The Avalanche ecosystem, aimed at solving the scalability issues of Ethereum, uses sub-second finality of transactions, unique consensus protocol upgrade and transactional throughput to deliver cost-effective products. Major Ethereum projects such as Aave and Curve have already migrated to Avalanche with more DeFi and crypto dApps expected to follow.
Here are 10 key highlights of Nansen’s report:
While the higher performance, faster transaction and cheaper fees position Avalanche as a prime candidate for being the next Ethereum-killer, it is the long-term impact of its liquidity mining incentives that will determine whether Avalanche’s increasing traction over the last 12 months is here to stay.
However, its vibrant ecosystem of native apps and popular Ethereum based protocols and shared security model make it an exciting platform to look out for in the crypto world.
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