Avalanche saw its biggest year in terms of transactions, a new report by Nansen_ai found. This growth came despite total value locked (TVL) falling steeply from 2021 highs. By shauryamalwa.
“Avalanche users may find themselves asking ‘what crypto winter?’ as the network made impressive gains in Q4 2022,” said Mega Septiandara, research analyst at Nansen.
Part of that growth may have come from Avalanche subnets, a custom blockchain built on Avalanche with products such as DeFi Kingdom’s DFK Subnet reaching a cumulative 200 million transactions on Nov 13, 2022. The Avalanche C-Chain, short for contract chain, is the default smart contract blockchain on Avalanche, which enables the creation of any Ethereum-compatible smart contracts. This operates complementary to the X-Chain, which is used to send and receive funds in the form of AVAX tokens.
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