AvalanchThough Avalanche is a relatively new player, it holds promise for faster yet cheaper transactions.

Speed and cost of operation are always two determining factors when it comes to doing business. However, the stiff competition between Avalanche and Ethereum falls beyond these two factors. Though Avalanche is a relatively new player in the crypto market, it holds promise for faster yet cheaper transactions than its competitors like Ethereum and Bitcoin. On the other hand, the Ethereum network is large and has wide popularity among crypto investors. It is the most used network for Ethereum developers to abandon easily, in the lure of other blockchain networks. Nevertheless, Avalanche is making rapid strides in the crypto market, to the extent, it gained the sobriquet, ‘Ethereum competitor’; and there are reasons for it.

1. Fastest transactions at the lowest price:

Avalanche can process 4,500 transactions per sec whereas Ethereum can complete just 14 transactions per second. According to coin telegraph magazine, Avalanche can close a transaction within 3 seconds whereas Ethereum takes around 1 minute.

2. Ideal for large scale transactions:

As Avalanche’s transactions take minimal time, there is tremendous potential to garner a large number of supporters. Just taking advantage of this feature, its sponsoring organization, Avalanche Foundation raised $230 million by selling AVAX tokens in June 2021.

3. Interoperability across networks:

Avalanche crypto network is interoperable, ie., members of other blockchains can utilize Avalanche infrastructure for their crypto transactions. This feasibility helps in easing out operational issues existing in other blockchains. It could achieve interoperability through 3-part architecture, viz. the exchange chain, the platform chain, and the contract chain.

4. Foray into NFTs :

NFTs do give an edge to digital tokens with increased usage as a means of digital transaction. Avalanche developers understand this pretty much well and hence are making vigorous advances to make their presence felt in NFTs and expand their Defi network. For example, Avalanche can independently verify the NFT ‘mural’ depicting Keyne West. The NFT, ‘Major League Baseball’ developed by Topps, a privately held baseball card collection company used Avalanche’s blockchain platform. For sure, using Avalanche token for Defi as well as NFT will help in its price appreciation.

Ethereum’s current popularity might not come to its rescue as the demand for its services in more than it can handle and it might take a lot of time to scale up to meet that volume of demand. Meanwhile, dynamic cryptos like Avalanche may flood the crypto market giving traditional cryptos a tough time.