Avalanche wins big in late 2021, but…
There is detailed information and statistics on avalanche status (AVAX) in 2021, as reported by Messari
On January 28, Ava Labs CEO Emin Gun Sirer stated via Twitter that Avalance’s transaction volume now is about to catch up with Ethereum.
“Avalanche ($AVAX) processed 1.1 million transactions today, approximately 96% of Ethereum’s load,“ he wrote.
Avalanche ($AVAX) processed 1.1 million transactions today, approximately 96% of Ethereum's load. Average fees for a swap operation were $0.23 on Avalanche and $62.00 on Ethereum.
— Emin Gün Sirer🔺 (@el33th4xor) January 28, 2022
Let's build together.
Some Twitter users argued that they will continue to use Ethereum despite its high gas fee since it is more decentralized than Sirer’s platform. In contrast, he totally disagreed with those opinions.
“Doesn’t look that decentralized to me, and I’ve measured things,” he answered them.
Could you quantify that "lack of decentralization"? ETH is currently being run with PoW parameters that advantage big mining pools. And the chain is produced by a very small number of pools. So I don't think decentralization is ETH's strongest suit compared to AVAX.
— Emin Gün Sirer🔺 (@el33th4xor) January 28, 2022
And what are you basing that on? I know it's something that maxis repeat to themselves, but where's the data?
— Emin Gün Sirer🔺 (@el33th4xor) January 28, 2022
Has anyone cared to quantify it? Doesn't look that decentralized to me, and I've measured things. :-)
— Emin Gün Sirer🔺 (@el33th4xor) January 28, 2022
According to Defi Llama data, Avalanche is the fifth-biggest smart contract platform with $8.19 billion in total value locked (TVL). On the other hand, Ethereum is still in first place with $113.67 in TVL.
The average fees for a swap operation were $0.23 on Avalanche in comparison to $62.00 on Ethereum. Messari, a crypto research/data firm, told that Avalanche is an attractive platform for “fee-sensitive users”.
“Given this rapid adoption, Avalanche is becoming an enticing platform for upcoming projects that want to maintain EVM compatibility while attracting fee-sensitive users,” Messari tweeted on January 28.
1/ @avalancheavax finished Q4 averaging ~475k transactions/day, almost 40% of @ethereum's ~1.25M average.
— Messari (@MessariCrypto) January 27, 2022
Given this rapid adoption, Avalanche is becoming an enticing platform for upcoming projects that want to maintain EVM compatibility while attracting fee-sensitive users. pic.twitter.com/khNPrZVuyc
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News