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