The Tie Webinars
[Recap] Avalanche Q1 2024 State of the Ecosystem
By Kingsley Bowen
February 20, 2024
- Recap 2023
- Institutional Adoption
- Gaming
- Modernizing FX
- DeFi
- NFT Expansion
- Platform Development
- Looking to the Future
- Avaissance Program - Avaissance aims to attract more creators and collectors through artist-in-residence programs and mentorship opportunities, raising NFTs' overall standard and appeal within its ecosystem.
- Hyperspace and Incentive Programs - The launch of Hyperspace and an attractive incentive program have led to a noticeable increase in NFT trading volumes on Avalanche. These initiatives have significantly boosted Hyperspace as a hub for NFT trading and the visibility and attractiveness to creators and traders.
- Dokyo's Success - Dokyo became the most traded NFT collection across all blockchain platforms in terms of 24-hour volume several times. This level of trading activity signifies the high demand and popularity of NFTs on Avalanche, reflecting the platform's growing prominence in the NFT market.
- Teleporter: As a smart contract interface built atop Avalanche Warp Messaging, Teleporter facilitates the transfer of tokens, NFTs, and messages across different subnets, such as moving assets from the C-Chain (the liquidity hub of the ecosystem) to various subnets. The impending launch of production-ready Teleporter code will likely impact the value proposition of the Avalanche blockchain, enabling faster deployment and integration without relying on third-party bridge providers.
- HyperSDK: Avalanche continues to evolve with tools like the Hyper SDK, catering to those seeking customizable, high-throughput blockchains.
- Ava Cloud: This service, managed by Ava-Labs, offers custom blockchain solutions (subnet-as-a-service). The Ava Cloud offering meets the unique needs of diverse clients such as government bodies, financial institutions, and gaming companies. The service includes end-to-end blockchain infrastructure management, encompassing aspects like RPC endpoints, block explorers, and validator sets. Ava Cloud aims to facilitate clients' journey to production with bespoke blockchain solutions efficiently and effectively.
- ACP 13 Proposal: While not yet implemented, this proposal aims to make subnet deployment more accessible and cost-effective by removing the validator requirement of validating the primary network. This requirement limits interest from institutions facing regulatory challenges in validating permissionless blockchains like the C-Chain. The proposal also reduces hardware requirements for validation and introduces a pay-as-you-go fee structure for validators, allowing for smaller, ongoing fees instead of significant upfront costs.
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