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Bank of America concluded in its report that the ability of the Avalanche smart contract platform to scale, while remaining secure and decentralized, makes it a viable alternative to Ethereum for creating DeFi projects, NFTs, developing the gaming industry and issuing other assets.
According to the bank, the Avalanche subnet function is becoming more widespread and more than 380 projects have already been created on the basis of the platform:
“Avalanche subnets provide faster transactions (settlement) and lower costs than alternative blockchains.”
According to the bank’s analysts, the total value of the blocked assets of Avalanche during the month increased by 21%, and since August – by 6255%.
“Deloitte’s decision to use Avalanche for its Close as You Go (CAYG) disaster mitigation platform demonstrates how corporations can use blockchain technology to improve efficiency and reduce costs,” bank analysts said.
AVAX is currently ranked 12th in market capitalization with over $ 24 billion. The asset rate this year has grown by 2869%.
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