Amberdata, the top provider of digital asset data and insights, will add support for the Avalanche network adding to its list of blockchains.
Amberdata has announced the addition of Avalanche Network to its list of blockchains supported. By adopting the Avalanche Network, network participants get access to granular and dynamic data. It can be used to power their research, analytics, trading, and reporting.
— Amberdata.io 📊📈 (@Amberdataio) July 28, 2022
Amberdata has developed a customized blockchain network data set with several applications. The unique data set may provide low-latency access to blockchain-based:
The data provided will allow institutional market participants to evaluate and analyze the crypto-economic smart contract systems.
Amberdata gets raw blockchain data from all relevant blockchain networks. It generates complete, detailed, and unfiltered data sets suitable for investment decisions. Amberdata allows you to effectively manage your whole DeFi portfolio. Users can identify opportunities and identify risks by getting information about:
- flows in and out of protocols
- active users
- transactions inside and between protocols
Avalanche informed the community of the upgrade via a blog post. The team shares a statement made by Amberdata CEO Shawn Douglass. Shawn Douglass praised Avalanche for attracting a large number of digital projects with its high performance, low cost, and high security solutions. He noted that the connection with Avalanche would allow them to give more complete and high-fidelity data on the Avalanche network and DeFi to institutional players. That will help their research, trading, risk management, accounting functions, and compliance efforts.
According to Luigi D’Onorio DeMeo, Amberdata will provide institutions with highlights of Avalanche and its DeFi apps. He is the head of DeFi at Ava Labs. He noted that the project would help investors better understand and use Avalanche as demand for crypto assets and DeFi services expands.
Avalanche is a blockchain that claims to combine scaling capabilities with fast confirmation times via its Avalanche Consensus Protocol. It has a processing capacity of 4,500 TPS (transactions per second). Avalanche’s native token, AVAX, is the 12th-largest with a market cap of $7.3 at the time of writing.
The network supports smart contracts. This allows it a wide range of applications, including its primary mission of creating dApps, as well as non-fungible tokens (NFTs) and blockchain games.
The creators have added several features that characterize it:
- Avalanche contains three blockchains, each performing a separate job, rather than simply one
- Users can develop new blockchains that operate on its network. These blockchains may or may not have their own coins or fee structures
- Avalanche and Ethereum are completely compatible. The same code may be used to deploy Ethereum smart contracts on Avalanche
Another unique characteristic is its consensus mechanism. It has its own consensus mechanism, Avalanche consensus, that is safe, fast, and energy-efficient.
More about Amberdata
Amberdata is the market leader in digital asset data. They provide comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance. It provides data to financial institutions for:
Amberdata is an important piece of infrastructure for financial institutions that want to enter the asset class and participate in digital asset markets.
⬆️For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.