Connect with us
Active Currencies 11380
Market Cap $1,648,267,755,089.80
Bitcoin Share 50.25%
24h Market Cap Change $-3.54

AVAX’s 7% surge amid this latest integration is all traders need to know

2min Read

Game-changing Chainlink automation solutions for developers were launched on the contracts chain (C-Chain) of Avalanche.

Share this article

  •  Automation 2.0 could lead to a reduction in gas costs by up to 90%.
  • AVAX reacted positively to the development, jumping by more than 7%.

In a big boost to Avalanche [AVAX] developers, flagship tools of the Chainlink [LINK]  ecosystem, Chainlink Automation 2.0 and Chainlink Functions 1.0, were launched on the contracts chain, also popularly called the C-Chain. The move was expected to revolutionize Web3 application development in the Avalanche ecosystem.

Read Avalanche’s [AVAX] Price Prediction 2023-24

Big boost for Avalanche

The two game-changing solutions for developers were introduced earlier in the month by the Chainlink ecosystem.

As far as Automation 2.0 is concerned, it allows developers to offload and automate Solidity computations off-chain. This results in saving up to 90% in gas costs.

Note that each operation in Solidity has a gas cost associated with it. The total gas cost for a given transaction or function execution is the sum of the gas costs of all the operations it includes.

Hence, developers can save a lot of time and money by automating smart contracts through Automation 2.0. Moreover, they can bypass the risks associated with centralized automation providers.

Similarly, Chainlink Functions 1.0 is a Web3 serverless platform that enables developers to connect their smart contracts to external data sources. This process speeds up the process of custom computations.

Apart from Avalanche, other Ethereum Virtual Machine-compatible chains like the BNB Chain [BNB] and Optimism [OP] have integrated the automation solution.

Development activity on an uptrend

Avalanche already boasted of a strong developer ecosystem. The added benefit of Chainlink automation tools could attract more builders to its fold.

According to Santiment, Avalanche’s Development Activity witnessed a steady climb over the past month. Development activity is an important barometer of a blockchain’s health. Investors carefully watch this signal when deciding whether to invest more money in a project.

Source: Santiment

How much are 1,10,100 AVAXs worth today?

AVAX in bullish mode

Native token AVAX cheered the launch, jumping 7.29% over the last 24 hours to $11.18. The coin gained more than 25% in the last week as a result of ecosystem-specific accomplishments and the broader market upswing.

Notably, demand for AVAX was high as evidenced by the sharp leap in trading volumes.

Source: Santiment


Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance. He prefers DC over Marvel, cats over dogs and Hyderabadi Biryani over Kolkata Biryani.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.