Three great things happened this week for the Avalanche ecosystem: Coinbase Cloud, BTC support, and UST trading, all of which will help it. A place for Web3 developers to meet and share ideas People who work on the Avalanche blockchain and smart contract platform can now use new tools from Coinbase Cloud to help them work on their projects.
It’s part of Coinbase Cloud’s new support features. Coinbase Cloud is running an Avalanche (AVAX) public node as part of this. This lets people in the Avalanche network use Coinbase Cloud to stake their AVAX tokens and give Coinbase Cloud the power to validate transactions on the blockchain.
It is possible for a network to benefit from the security of the Ethereum network because it is compatible with the Ethereum Virtual Machine (EVM). As long as the chain is EVM compatible, all of the tokens on it can be seamlessly bridged between each other as well.
There is also an AVAX integration with Coinbase Wallet, a crypto exchange’s own Web3-enabled digital asset wallet that Coinbase makes. It will also give developers the information they need to run applications on the Avalanche network. It was last week that Coinbase added support for Solana (SOL). Read also; Coinbase Facing Lawsuit Over Unlicensed Crypto Asset Sales
People who use Coinbase Cloud will see better results when they use the Query and Transact tool. This feature makes it easier for programmers to find, interact with, and study parts of the code that make up the Avalanche network more quickly. Coinbase Cloud thinks that by giving developers access to the node infrastructure, they can “configure who can access the node infrastructure, and distribute their nodes across four geographic regions and two cloud providers” with very little downtime.
If you want help with Web3 development, Coinbase Cloud is a service from the Coinbase crypto exchange that was launched last October.
Also, Avalanche has started putting its support for Bitcoin on the market through a service called the Avalanche Bridge, and Coinbase Cloud has added new features to the AVAX ecosystem. We expect to finish supporting everyone in Q2 this year.
This means that people who own Bitcoin (BTC) will be able to move their coins to the Avalanche network and participate in decentralized finance there. Read more; Crypto Ads Face Increased Scutiny
The co-founder and CEO of Avalanche. There will be a lot more orange in Avalanche because of the BTC integration, Kevin Sekniqi said on Wednesday.
Avalanche Summit is taking place in Barcelona, Spain. Terra also announced that TerraUSD (UST) can now be traded on Avalanche. All three of the things that happened this week are going to add more value to the Avalanche ecosystem in the long run through new investments and new apps.
Over the last 24 hours, AVAX has lost 3%. It is now down 42.3 percent from its November 21, 2021, all-time high of $145, CoinGecko says.