The crypto globe holds pride in boasting a number of protocols, which have been bustling in the business. The space now has a number of use cases that include peer-to-peer transactions, store of value, investment options, utility, and more. Which is fueled by a number of protocols, while some have been in the business for a long. Others have been raging ahead of veteran protocols.
Avalanche is one such protocol, which has been striving towards supremacy. With its blazingly fast transactions, level of decentralization, security, scalability, and sound community. Successively, the Avalanche foundation’s recent strategic investment intends to fuel Web 3.0 and metaverse startups. In addition, the energy consumption rating of Avalanche triumphs over legacy protocols.
Are Stars Falling In Place For Avalanche’s Moon Run?
The Avalanche Foundation has announced a strategic investment in EON XI Labs. The initiative is expected to bring diversity, equity, and financial inclusion to Web 3.0 and metaverse startups. The initiative has seen a positive response from Web 3.0 projects, metaverse, and NFTs as well.
Successively, Ox Project a decentralized exchange infrastructure. Will soon be deploying a trusted open-source standard for interoperable NFT apps and marketplaces. That will be enabling users to swap NFTs across chains with low gas fees. In addition, Each Particle NFT offered by Collect Particle has been bustling in the community.
Research coming from the Crypto Carbon Ratings Institute (CCRI). Has examined that Avalanche consumes the same amount of energy as only 46 U.S households per year. In comparison, Bitcoin consumes as much energy as 8.5 M U.S households, while Ethereum consumes an equivalent of 1.6 M U.S households annually.
Consecutively, that translates to Avalanche using just 0.0005% of the energy consumed by Bitcoin, and 0.0028% of Ethereum. The total energy consumption of Avalanche is 489,311 kWh, the network secures $18,454 in TVL on the network per kWh. The report adds a feather to Avalanche’s cap, as it would garner the interests of environment-conscious firms. Moreover, more NFT creators would welcome the network.
Summing up, alongside the robust fundamentals, growing utility, and initiatives the community has been growing at an astounding rate. The Avalanche Twitter community is now over 570k strong, 20k followers have onboarded in just over 10 days. Moreover, the initiatives revolving around NFTs, Web 3.0, and metaverse would eventually lay the foundation for Avalanche’s climb to its much-anticipated $100 target.
Source: https://coinpedia.org/altcoin/avalanche-avax-price-will-hit-100-level-this-quarter/