- In 2023, Avalanche doubled down on its focus, highlighting collaborations with Amazon and JP Morgan to drive tokenization and storage.
- By 2024, Avalanche aims to surpass Ethereum by improving transaction speeds and enriching its environment for developers and users.
In 2023, Avalanche doubled its addresses, according to John Wu of Ava Labs. In Thinking Crypto, Wu spoke about the network’s expansion, mentioning 20 active subnets and plans to add 80 more this year. The value of AVAX rose 483% by December, reaching $50, then fell to $30 in 2024 and rose again to $40. This rise raises the question of whether it will maintain its positive direction.
The growth of Avalanche
Wu attributes this progress to the scalability and speed of the network, highlighting the integration of Vryx and HyperSDK, which enable up to 100,000 transactions per second. Healso mentionedthe collaboration with Amazon to offer computing and storage power via Amazon Web Services, as well as a partnership with JP Morgan to develop alternative asset tokenization solutions and accelerate settlement processes.
Expectations for Avalanche in 2024
Kevin Sekniqi, co-founder, propos es to develop Avalanche as a competitor to Ethereum, improve the protocol to reduce transaction time to less than 250 milliseconds, and introduce fast finality that would allow transactions to be validated almost instantly.
In addition,he plans to expand the Avalanche environment to attract more developers and users, improve the Avalanche wallet messaging and teleporter features to facilitate asset and data transfers, and expand the HyperSDK development kit.
HyperVM, an Ava Labs innovation, promises to transform the capabilities of the network and the crypto sector in general, according to Sekniqi.
