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Avalanche is a smart contract crypto that’s going places.
Key points
- Avalanche gained over 3,000% last year, taking it to 10th place in terms of market cap.
- Avalanche is a smart contract crypto that boasts the fastest time to finality in the industry. Finality is the point where a transaction is irreversible.
The cryptocurrency industry had an incredible 2021. The total market cap — the amount of money invested in crypto — stood at about $770 billion on Jan. 1 and finished the year at $2.25 trillion. And various individual cryptos outperformed the market. For example, smart contract crypto Avalanche (AVAX) gained over 3,000% across the year, taking it to 10th place in the crypto charts.
Avalanche launched in 2020 and quickly became a serious player in the crypto space. It has a strong team behind it in the form of Ava Labs and has also secured investment from major players such as Polychain and Three Arrows Capital.
Here are some of the reasons Avalanche could skyrocket in 2022.
1. It’s a programmable crypto
Programmable cryptos are the building blocks of the crypto industry. These are whole ecosystems where other applications and cryptocurrencies can be built. Ethereum (ETH) was the original smart contract crypto, but it struggles with network congestion and high fees. As a result, a number of Ethereum alternatives have grown in popularity — including Avalanche.
It is early days and it isn’t clear which smart contract cryptos will come out ahead. But these networks will be at the heart of any upcoming developments in the crypto industry. Whether it’s metaverses, decentralized finance, Web 3, or non-fungible tokens (NFT), they all run on smart contract…
