Avalanche (CRYPTO:AVAX)

A NEW PARTNERSHIP

One of the world's largest audit firms, Deloitte, has partnered with the Ava Labs team, founders of the Avalanche blockchain. The firm will thus offer a platform with the aim of helping the U.S. government with funding following a natural disaster.

With its "Close As You Go" app, Deloitte hopes to "improve the security, speed as well as accuracy of reimbursements, and reduce fraud." Specifically, the network will authenticate the documentation provided by individuals applying for grants.

With the speed of execution of blockchain, and the intrinsic nature of smart contracts, this kind of project may demonstrate how blockchain is an optimal solution.

The Avalanche blockchain has been attracting a lot of attention lately, and has broken through its $100 resistance, currently trading at $110.

AVALANCHE

Launched in September 2020, the Avalanche blockchain, which aims to be one of those famous "Ethereum Killer", is becoming more and more established within the blockchain ecosystem.

At the beginning of August, AVAX, the native cryptocurrency of Avalanche was trading at less than $15, today it is hovering around the $100 area. Proof of Stake and EVM compatible, Avalanche allows developers and enterprises to migrate their Dapps from Ethereum. The goal is to take advantage of the network's superior transaction speed (> 4500 tps), and the network's minimal transaction fees (< 0>
Recently, the Avalanche Foundation announced the Blizzard Fund. This is a $200 million investment fund that will financially support projects created on the blockchain, with a special focus on DeFi and NFT projects.

14th in the market cap rankings, with a MC of $21B, Avalanche nevertheless stands out for its DeFi projects, ranking 5th here with $10B invested in its decentralized finance applications. The symbolic $100 mark that is currently playing out as a resistance zone for Avalanche could well turn into support in the future, as Ethereum developers migrate to it as well as newcomers adopt it.