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Avalanche (AVAX) up 8% as Its Latest Innovations Got Unpacked: Details

Wed, 06/21/2023 - 13:10
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Godfrey Benjamin
Avalanche is on rise after teasing two important innovations
Avalanche (AVAX) up 8% as Its Latest Innovations Got Unpacked: Details
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Avalanche (AVAX), designed to assume the record of being the fastest blockchain from time to finality, has the right of way to claim its current price performance. At the time of writing, the digital currency is changing hands at a price of $12.19 after printing 8.06% growth over the past 24 hours and by more than 2.7% in the week-to-date (WTD) period.

AVAX Chart
AVAX/USD 1D Chart. Source: CoinMarketCap

New innovations on frontlines

As one of the foremost blockchain protocols with a robust developer ecosystem, Avalanche has introduced two new innovations that have contributed greatly to the growth push. These innovations include HyperSDK and Avalanche Warp Messaging (AWM).

HyperSDK is unique in that it allows subnet developers to create Virtual Machines with the help of the Software Development Kit (SDK). The virtual machines that can be created in this regard are high performance and easily customizable, making it possible for creators to input prompts that can help meet the Know-Your-Customer (KYC) prompt from different regulators around the world.

The AWM engine is a much needed messaging platform that will encourage seamless communication between different subnets. Per its design, reliance on third-party bridges will no longer be necessary, solidifying the independence of Avalanche in the broader Web3.0 ecosystem.

Chainlink Functions Debuts on Avalanche (AVAX): Details

At the moment, both HyperSDK and the AWM innovations are functional, however, the former is still in alpha mode while the latter has a very limited range of protocols it can currently communicate with. Developmental efforts on both tools are growing and will soon be fully functional.

No mismatch with avalanche

With some of the brightest innovations in the crypto ecosystem coming from the Avalanche network, it is evident that the protocol is doing all it can to prevent any mismatch in its innovations.

From the proposed HyperSDK and AWM to the debut of Chainlink oracles on Avalanche, the protocol seems more than ready to sustain its current innovations.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.