The renowned blockchain platform Avalanche has now breached the 1 million mark for monthly active users. The milestone was achieved a week after the launch of Avalanche’s cloud computing service, AvaCloud Platform. The newly launched platform was critical in promoting the growth of Avalanche (AVAX) among users.
It is the first time since its inception that the Avalanche ecosystem has reached this mark. It shows the meteoric rise of the platform and its growing user base around the world. Users are acknowledging the innovative use of blockchain technology from the platform. The Avalanche ecosystem is providing solutions to the scalability and speed issues within the crypto industry. It has managed to attract users and developers by prioritizing scalability and decentralization.
AvaCloud Platform – A New Beginning for Avalanche
With the introduction of the AvaCloud Platform, developers will be able to create and launch custom blockchains or subnets on the network. Therefore, now they do not need to learn complex coding to build and deploy their own blockchain networks on top of the Avalanche network.
Soon after the launch of the platform, renowned projects like the Korean conglomerate SK Group, gaming app Blitz, and AAA game studio Shrapnel vowed to use AvaCloud. Thus, increased adoption will ensure more traffic toward Avalanche’s network in the longer run. The network reached 1,080,950 monthly active users in May. So far in June, there are 93,410 active users.
While talking about AvaCloud, the CEO of Ava Labs Emin Gun Sirer stated,
“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.”
What’s Next for the Network?
Analysts have appreciated the performance of the network, stating that by handling one million active users in a month the protocol has shown its ability to handle high traffic of transactions. Thus, it will help the protocol in growing to be counted among the leading blockchain networks in the crypto space.
The news also had a positive impact on the trading price of the Avalanche’s native coin, AVAX. With an increase of 2.50% during the last day, AVAX is trading at $14.39. It currently sits at #16 in the list of top cryptocurrencies with a market cap of $4.94 billion.
Furthermore, the positive news surrounding Avalanche will help the protocol in expanding its operations and bagging more fruitful partnerships. However, the platform is yet to address the issue of high costs to further propel its adoption among users and developers.