The Avalanche Ecosystem (AVAX) will benefit from three significant developments announced this week: Coinbase Cloud integration, BTC management, and UST trading. Coinbase Cloud has announced that these tools would be included into Avalanche in order to support blockchain development.
Coinbase Cloud now has some new features.
Coinbase Cloud performs a public Avalanche nud as part of its new support features (AVAX). This allows Avalanche network members to store their AVAX tokens on Coinbase Cloud and delegate the ability to validate transactions on the blockchain. Developers will find it easier to use the blockchain and carry out transactions as a result of this.
Coinbase Cloud also plans to improve its Query and Transact feature for its users. This feature allows developers to more easily locate, interact with, and examine the code components that make up the Avalanche network (AVAX). The company believes that by providing such access to its clients, these individuals (developers) will be able to "configure who has access to the network infrastructure, and distribute their networks across four geographical regions and two cloud providers."
Recall that Coinbase Cloud is a Web3 platform that was launched in October of last year with the goal of providing support to Coinbase's cryptocurrency exchange developers.
Other projects are planned for the end of the second quarter.
In addition to Coinbase Cloud's recent contributions to the AVAX ecosystem, Avalanche has begun to demonstrate its support for the Bitcoin network via Avalanche Bridge. The company's team has stated that full assistance should be available by the end of the second quarter of this year. The benefit of this project is that holders of bitcoins (BTC) will be able to transfer their assets to the Avalanche network and participate directly in decentralised financial activities.
Kevin Sekniqi, Avalanche's cofounder and director of operations, summarised the BTC integration in a tweet posted on Wednesday, declaring: « DeFi on Avalanche is on the verge of becoming much more orange ».
In order to support the growth of the Avalanche blockchain, Coinbase Cloud has announced that it is now working on a number of projects that will allow it to provide new developer-friendly offerings. Avalanche, on the other hand, is working on releasing new features (currently for developers) before the end of the second quarter of this year.
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