• Avalanche (AVAX) network recorded a 3.4% growth in active daily addresses and a 514.8% year-over-year growth in daily transactions in Q4 2022.
• The network saw an 84.6% increase in average daily transactions from 1.5 million in Q3 2022 to 2.9 million in Q4 2022.
• Two subnets were launched during this period – DFK and StepNetwork – and facilitated the majority of daily transactions.
The Avalanche network ended 2022 with a bang, recording a 3.4% growth in active daily addresses and an impressive 514.8% year-over-year growth in daily transactions. The fourth quarter of 2022 saw the launch of two new subnets – DFK and StepNetwork – that led to a surge in the number of daily transactions, increasing the average daily transactions by 84.6%.
The Avalanche network is a decentralized, open-source blockchain platform. It is designed to facilitate rapid and secure transactions powered by a new consensus algorithm called Avalanche. The network features instant transaction finality, enabling users to complete their transactions without having to wait for block confirmations. It also features a powerful scripting language that allows developers to create applications on the network.
The network’s growth in the fourth quarter of 2022 was largely attributed to the launch of two new subnets: DFK and StepNetwork. The DFK subnet is designed to facilitate decentralized finance (DeFi) applications, allowing users to easily create and manage their financial transactions. The StepNetwork subnet is designed to facilitate cross-chain transactions, enabling users to easily move their funds between blockchain networks.
The launch of these two subnets led to a significant increase in the number of daily transactions on the network. The average daily transactions rose from 1.5 million in Q3 2022 to 2.9 million in Q4 2022, indicating an 84.6% increase. This is accompanied by a 3.4% growth in active daily addresses and an impressive 514.8% year-over-year growth in daily transactions.
The Avalanche network also saw an 84.6% increase in average transactions per second, from 18 in Q3 2022 to 33 in Q4 2022. This is a testament to the network’s performance and scalability, as it is able to handle an increasing amount of transactions without sacrificing its security or decentralization.
Overall, Avalanche ended 2022 on a high note, with significant subnet improvements and an increased number of daily transactions. This is a promising sign for the network’s growth and adoption in the future, and it will be interesting to see how it progresses in the years ahead.